Industry

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(May 14, 2007) Federal Finance Minister Jim Flaherty addressed the Toronto Board of Trade on Monday, to clarify the government’s proposed anti-tax-haven initiative. Corporate Canada has been pressuring Flaherty to rescind a controversial tax measure that eliminates interest deductibility on investment loans used by foreign subsidiaries of Canadian companies. In his speech to the Board […]

By Staff |May 14, 2007

4 min read

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Insurance industry finally adopts XML standard

You’ve heard it time and time again — the life insurance industry prefers their paper processes over electronic ones. But a new survey released by the Canadian Life Insurance Electronic Standards Association shows that more companies are going digital than ever before. The report, which was introduced to CLEIDIS members at their annual general meeting […]

By Bryan Borzykowski |May 14, 2007

3 min read

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Hot markets require closer attention: OSFI

High-flying markets and few investor complaints may sound like an idyllic financial setting, but it is exactly the kind of scene that requires extra vigilance on the part of regulators, according to Julie Dickson, acting superintendent, Office of the Superintendent of Financial Institutions Canada. “We have to remember that if shocks could be anticipated, they […]

By Mark Noble |May 14, 2007

3 min read

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(May 11, 2007) The strong employment gains that Canada has experienced since September 2006, started to subside in April, Statistics Canada reports. Yet, at 6.1%, the unemployment rate remains at a historic 33- year low. Most of the growth this year has been in the service sector. So the slowdown in overall growth could be […]

By Staff |May 11, 2007

3 min read

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Pension fears subside

Fears about a looming pension crisis have receded somewhat since last year, according to the Conference Board of Canada’s fourth annual survey of pension plan sponsors. Much of that that can be attributed to a year of good investment returns. Nevertheless, long-term affordability issues weigh on plan sponsors, particularly since there’s a $20 billion gap […]

By Scot Blythe |May 11, 2007

3 min read

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(May 10, 2007) The TSX is hoping an expansion into new markets will help the company thrive in an era of growing global competition, according to Rik Parkhill, president of TSX Markets. “We at TSX operate in a very competitive global environment and we see competition in our listings, trading and data business everyday,” Parkhill […]

By Staff |May 10, 2007

3 min read

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HNW market tough nut to crack

The high-net-worth marketplace in Canada is booming and does not appear to be letting up. With a projected growth rate of nearly 88% over the next seven years, it’s a hotbed of opportunity for advisors across all wealth-management channels, according to Earl Bederman, president of Investor Economics. Speaking to advisor audience members Wednesday at a […]

By Heidi Staseson |May 10, 2007

4 min read

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OBSI relies on bad publicity

In the hierarchy of regulators and industry overseers, the Ombudsman for Banking Services and Investments may, at first glance, not appear to be very powerful. While provincial regulators or the SROs can end a career, OBSI can only make non-binding recommendations for investor compensation. But the ombudsman does have a powerful weapon in his arsenal: […]

By Steven Lamb |May 10, 2007

3 min read

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(May 9, 2007) BMO Capital Markets is still in damage control after it reported trading losses that could be as high as $450 million. The bank says it is conducting an external review of its trading activities and will be suspending all business relationships with the brokerage firm Optionable Inc., including all derivatives trading through […]

By Staff |May 9, 2007

3 min read

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New FPSC head sets sights on recruitment

He views the CFP as uniquely qualified accreditation that can enhance the legitimacy of financial planning because it can be a rallying point to develop a strong professional association and a benchmark to be used by regulators. He says the FPSC will try to foster the development of both. “We could help foster an environment […]

By Mark Noble |May 9, 2007

2 min read

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