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Industry
A new survey shows that millionaires, who currently have a negative attitude about the state of the U.S. and global economies, are optimistic that improvements to the investment climate will improve a year from now. The annual survey, commissioned by Fidelity Investments and released April 29, shows an improvement in the attitudes and behaviour of […]
By Romana King |May 15, 2008
2 min read
Calling for a single regulator is old hat in the financial industry these days, but Ian Russell, president and CEO of the Investment Industry Association of Canada, is trying to take the discussion one step further. On Thursday he gave a speech to the Toronto Board of Trade, where he outlined what it would take […]
By Bryan Borzykowski |May 15, 2008
4 min read
Total industry sales, which came in at $560.8 million, were down from the $2.6 billion seen in March. Sales were also down from April 2007 ($2.5 billion) but were in line with industry sales over the previous two years, when sales for April were $468 million (2006) and $540 million (2005) respectively. The all-important long-term […]
By Mark Noble |May 15, 2008
3 min read
After months of speculation regarding its exposure to illiquid debt issues, RBC has announced it will take pre-tax writedowns totalling $855 million. On an after-tax basis, however, that amount falls to $420 million. The market is clearly relieved by the news, as the stock was trading higher by 2.8% at 11 a.m. The bank asserted […]
By Steven Lamb |May 14, 2008
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By Staff |May 14, 2008
(May 14, 2008) Fraud and corruption are substantial risks to companies with global operations, but according to a report from Ernst & Young, Canadian companies are experiencing less of these problems than their foreign counterparts. In a global survey, the accountancy found that 80% of North American companies in the study reported no incidents of […]
Investors have been given their first glimpse of the bank-owned market platform, Alpha Alternative Trading System (ATS), which is set for launch in September. There are a number of ATSs in Canada, but Alpha has been hotly anticipated because of the names involved in its creation. The project was announced in May 2007 by nine […]
By Mark Noble |May 14, 2008
With another tax-filing deadline having passed, now might be a good time to discuss tax planning strategies for this year with your clients, while the topic is still fresh in their mind. Many of them would likely rather donate less to Ottawa, and more to a cause close to their heart. Investors wanting to donate […]
(May 13, 2008) Saxon Financial has announced the resignation of its president and CEO, Allan W. Smith, who cited “personal reasons.” Smith’s resignation is effective immediately. He has been succeeded by a more familiar name, Robert Tattersall, co-founder of Howson Tattersall Investment Counsel, Saxon’s investment management subsidiary. Tattersall is also the executive vice-president and a […]
By Staff |May 13, 2008
The IDA is conducting a compliance sweep of its members, looking into the practices surrounding the sale of asset-backed commercial paper to retail investors. But the self-regulatory body insists it is not an enforcement sweep, as reported in the National Post on Tuesday. The IDA has been monitoring its members’ exposure to non-bank ABCP since […]
By Steven Lamb |May 13, 2008
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