Industry

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(June 22, 2007) The Superior Court of Québec has rejected a motion by Vincent Lacroix, the former head of Norbourg Asset Management, in which he alleged that about $20 million was missing from the funds managed by Evolution Funds Inc. when it was sold by the Caisse de dépôt et placement du Québec. Lacroix is […]

By Staff |June 22, 2007

3 min read

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Economic outlook steady: RBC

Ontario: 2.7% Quebec: 2.6% New Brunswick: 2.6% Nova Scotia: 2.3% Prince Edward Island: 1.7% Newfoundland and Labrador: 0.5% Newfoundland and Labrador: 0.5% Prince Edward Island: 1.7% Nova Scotia: 2.3% New Brunswick: 2.6% Quebec: 2.6% Ontario: 2.7% Manitoba: 3.2% Saskatchewan: 3.6% Alberta: 4.0% British Columbia: 3.3% Filed by Steven Lamb, Advisor.ca, steven.lamb@advisor.rogers.com (06/22/07) The Canadian economy […]

By Steven Lamb |June 22, 2007

3 min read

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(June 21, 2007) Dundee Wealth Management had a corporate makeover today, getting a new name — DundeeWealth Inc. — and more importantly a new face at its helm. The company’s founder, Ned Goodman, announced at the company’s annual meeting in Toronto on Thursday that he is stepping down as CEO and president and handing over […]

By Staff |June 21, 2007

4 min read

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Canada’s financial systems at low risk

Financial life in Canada is looking pretty good, says the Bank of Canada in its biannual Financial Systems Review, but a slowdown in the U.S. economy could change this sunny outlook. According to the report, “the financial positions of the Canadian household and corporate sectors remain strong, reflecting years of solid economic expansion,” but three […]

By Bryan Borzykowski |June 21, 2007

3 min read

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Accounting standards eased for foreign firms: SEC

Commissioners of the United States Securities and Exchange Commission unanimously voted 5-0 for a proposal on Wednesday that would allow foreign firms that trade on U.S. exchanges to file financial reports using International Financial Reporting Standards (IFRS) instead of U.S. accounting standards. For many multinationals that do business in the U.S., this is a reprieve […]

By Mark Noble |June 21, 2007

3 min read

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(June 20, 2007) Canada will not be immune to rising interest rates that are going to put the brakes on global economic growth, says TD Bank’s chief economist, Don Drummond. In the June issue of TD’s Quarterly Economic Forecast, Drummond predicts that over the longer term, the global economy will ride out higher interest rates. […]

By Staff |June 20, 2007

5 min read

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Flaherty keen to overhaul regulatory regime

Federal Finance Minister Jim Flaherty has announced he will move the ball forward on the development of a single securities regulator, launching an expert panel to research the idea, despite opposition from his provincial counterparts. “All provinces and territories are invited to participate in this collaborative process, including suggesting names for the expert group and […]

By Steven Lamb |June 20, 2007

2 min read

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(June 19, 2007) Energy enthusiasts take note: a new energy sector ETF is on the market. Jovian Capital Corporation and BetaPro Management announced Tuesday that they have launched the first ETFs in Canada to offer “inverse and magnified exposure” to the S&P/TSX Capped Energy Index. “The Horizons BetaPro S&P/TSX Capped Energy Bull Plus ETF is […]

By Staff |June 19, 2007

4 min read

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OSFI loosens the leash on bank disclosure

The Office of the Superintendent of Financial Institutions Canada issued a proposal on Tuesday to relax its disclosure guidelines for banks writing off bad debt. Under the proposal, banks will have to adhere only to Canadian generally accepted accounting principles (GAAP) to disclose foreseen losses resulting from bad loans. Released in 2001, OSFI’s C-5 guideline […]

By Mark Noble |June 19, 2007

3 min read

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DB plans require overhaul: C.D. Howe

Canada’s remaining defined benefit pension plans are fundamentally flawed and require a drastic overhaul if they are to survive, according to a report out of the C.D. Howe Institute. The report, penned by David Laidler, C.D. Howe fellow-in-residence and professor emeritus at the University of Western Ontario, and William B. P. Robson, president and CEO […]

By Steven Lamb |June 19, 2007

4 min read

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