Industry

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Fate of ABCP remains unknown

Holders of asset-backed commercial paper are still in the dark about the fate of their much-maligned paper. A committee set up after the signing of August’s Montreal Accord failed to meet its December 14 deadline to come up with a restructuring proposal for ABCP. The Pan-Canadian Investors Committee for Third-Party Structured Asset Backed Commercial Paper […]

By Mark Noble |December 17, 2007

3 min read

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Money markets outsell long-term funds: IFIC

Money market funds were the top sellers in November, raking in $1.87 billion, while long-term fund sales took a hit, according to the latest data from the Investment Funds Institute of Canada. Canadian and U.S. money market funds brought in $1.27 billion and $537 million respectively, while long-term funds saw net redemptions of $15.8 billion, […]

By Bryan Borzykowski |December 17, 2007

3 min read

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Berkshire reaches settlement over Thow

The Mutual Fund Dealers Association of Canada (MFDA) has imposed a $500,000 fine and a further $50,000 in costs against Berkshire Investment Group, now owned by Manulife Financial Corp. The settlement stems from accusations that the firm should have been aware of the actions of former vice-president Ian Thow, who stands accused of stealing millions […]

By Ashley Ford |December 14, 2007

4 min read

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(December 14, 2007) On Thursday the Ontario government announced that it is extending the phase-out of the Labour Sponsored Investment Fund tax credit and increasing the maximum eligible investment. This was revealed during the government’s 2007 Ontario Economic Outlook and Fiscal Review, which also saw the cutting of capital tax rates for business and an […]

By Staff |December 14, 2007

2 min read

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Market turmoil not scaring away RRSP investors

With the markets moving up and down like a roller coaster, it would be understandable if investors were getting a little panicky. So it might be surprising to learn that 60% of RRSP-owning Canadians say they are not concerned at all about the recent market turmoil. “I was a little bit surprised, to be honest, […]

By Bryan Borzykowski |December 14, 2007

3 min read

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Montreal ABCP meeting: What it means for client investments

The standstill period for the Montreal Accord on non-bank asset-backed commercial paper expires on Friday. The industry is expecting an announcement on how more than $30 billion in outstanding ABCP will be restructured. The decision will have little direct impact on retail investors, but there could be some spillover that will affect money market funds. […]

By Mark Noble |December 14, 2007

4 min read

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(December 13, 2007) The Investment Dealers Association’s been busy. On Thursday the organization fined two people a total of $50,000. Hal Julian Biren was slapped with a $25,000 fine after admitting that between February 2001 and March 2004 he “failed to use due diligence to learn and remain informed of the essential facts relative to […]

By Staff |December 13, 2007

3 min read

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December tax-planning reminders

Prudent tax planning in December is key to creating a worry-free tax filing for April, according to a pair of tax experts. The importance of tax planning in December is twofold. First, as the end of the year approaches, so do the deadlines that will determine the eligibility of expenditures and deductions to be included […]

By Mark Noble |December 13, 2007

3 min read

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(December 12, 2007) An Ontario court has cleared the way for investors who hold Portus notes in a registered account to sell the notes to a third party without triggering a taxable event. The motion to allow investors to sell their claim on Portus’s assets was submitted by lawyers for KPMG, the receiver in the […]

By Staff |December 12, 2007

3 min read

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Donor-advised funds growing rapidly

The Canada Revenue Agency isn’t exactly Santa Claus, but federal tax changes that eliminated the capital gains tax on donated securities have kicked the season’s spirit of giving into high gear. In particular, donor-advised charitable giving funds are growing at a torrid pace this holiday season. TD Waterhouse’s Private Giving Foundation — the first donor-advised […]

By Mark Noble |December 12, 2007

1 min read

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