Industry

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Surprise bill makes RESP marketable

For years advisors have said they like the RESP but feel it lacks tax incentives. But combined with recent changes in the 2008 Federal Budget, the passing of an opposition bill in the House of Commons earlier this week makes the RESP a much more compelling savings vehicle. The private members’ bill, initiated by Liberal […]

By Mark Noble |March 7, 2008

2 min read

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By The Book: IDA suspends Gerald Danny Stefaniuk

(March 6, 2008) Investment Dealers Association member Gerald Danny Stefaniuk has been suspended indefinitely by the self-regulatory organization. The IDA penalized Stefaniuk, who was a registered representative at Golden Capital Securities in Vancouver, after an expedited hearing was held. The IDA didn’t say why Stefaniuk was suspended or what he did, but it did say […]

By Staff |March 6, 2008

1 min read

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On The Shelf: SunWise introduces lifetime withdrawal option

(March 6, 2008) CI Investments and Sun Life Financial have introduced a lifetime withdrawal option on CI SunWise Elite Plus segregated funds. The new option rider should be available March 24, 2008. This new option builds on the existing SunWise Elite Plus guaranteed minimum withdrawal benefit by providing guaranteed income for life. “Canadians are living […]

By Staff |March 6, 2008

1 min read

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Briefly:

(March 6, 2008) Another poll has come out saying most Canadians aren’t investing in their RRSPs. This time Investors Group is reporting that only 37% of eligible Canucks made contributions during the 2007 tax year. To make matters worse, RRSP contributions have decreased 5% from last year. Among those who did pay into their savings […]

By Staff |March 6, 2008

2 min read

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Introducing a new risk: community

As energy and gold prices continue to reach record heights, the appeal to allocate more money to resource funds is strong. A new executive brief from the Ethical Funds Company highlights resource extraction companies’ increasingly finding their bottom line subject to community risk. Globally, communities have begun to deny corporations access to resources, fearing adverse […]

By Mark Noble |March 6, 2008

4 min read

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Crocus case edges toward payment

For the first time since the Crocus Investment Fund ceased trading more than three years ago, unitholders have reason to hope they might receive a portion of their investment back. The out-of-court settlements reached last week with four defendants for nearly $9 million in the fund’s class action lawsuit — bringing the settlement total to […]

By Renée Alexander |March 6, 2008

3 min read

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By The Book: BCSC, MSC investigate Gold-Quest

(March 5, 2008) Securities regulators in Manitoba and British Columbia are investigating an offshore company that has been promising investors annual returns of 87.5%, as well as commissions for bringing in new investors. Gold-Quest International offered to trade in the foreign exchange markets on investors’ behalf, with a cost of entry as low as $500 […]

By Staff |March 5, 2008

1 min read

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(March 5, 2008) Calgary-based Alliance Trust Company has received the Government charter and letters patent to operate as a non-deposit-taking, specialty trust company in Alberta. “We are excited to enter this very limited market of service providers in the field of stock transfer agency and corporate trust services,” says Zinat H. Damji, founder, president and […]

By Staff |March 5, 2008

2 min read

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Energy’s run isn’t over: Rubin

Despite Canada’s proximity to the economically troubled USA, there’s no need for Canucks to take a “defensive posture” when it comes to investing, says Jeff Rubin a chief economist at CIBC World Markets. “There is more than sufficient momentum in both energy and materials stocks to warrant stock market exposure in the here and now,” […]

By Bryan Borzykowski |March 5, 2008

3 min read

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TFSA sparks little innovation…for now

With the federal budget passing first reading in the House of Commons on Tuesday, product providers now have to start the process of building the ideal tax-free savings account (TFSA) solution for 2009. The problem is, with contribution room building at only $5,000 per year, it will be a while before the TFSA will really […]

By Mark Noble |March 5, 2008

3 min read

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