Industry

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IFIC offers bold suggestions for retirement savings plans

IFIC has released its annual wish list for the next federal budget. While many of the proposals will seem familiar, they have been repositioned around the Conservative Party’s platform in the hope of getting them through. IFIC’s key message this year: do something to help boomers before they go bust. “A large portion of the […]

By Mark Brown |October 23, 2006

4 min read

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Has regulation gone too far?

Lessons from Portus Let’s take the Portus situation for example. This product was offered by some allegedly less-than-scrupulous people in an environment that is under-regulated and advisors were left with the task of delivering it to the public. Representatives and dealers are sales driven — that’s how they earn a living. And, of course, they […]

By Stephanie McManus |October 20, 2006

6 min read

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Briefly:

(October 20, 2006) RBC Dexia Investor Services released its quarterly survey of pension plan managers for the period ending September 30. The survey shows a rebound in pension plan investment results, helped by encouraging economic news and a stable Canadian dollar. Global markets bounced back during the September quarter, boosting Canadian pension fund investments by […]

By Staff |October 20, 2006

2 min read

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Teaching kids about money

To support the launch of its new program aimed at educating children, Edward Jones has released new survey findings that show six out of 10 Canadian parents and grandparents are concerned their children won’t be able to properly handle money when they grow up. Given current consumer debt levels and savings rates, credit counsellors say […]

By Kate McCaffery |October 20, 2006

6 min read

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Norshield principals face million dollar hearing

Hedge fund manager John Xanthoudakis and two other Norshield officers are facing an Ontario Securities Commission hearing that could see them fined $1 million each on charges of breaching securities law and conduct contrary to the public interest. RSM Richter, Norshield’s receiver, has already reported that retail investors, who put $132 million into Norshield are […]

By Scot Blythe |October 20, 2006

2 min read

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(October 19, 2006) More accustomed to disciplining stockbrokers, the BCSC has found itself issuing an order banning a pawnbroker from the province’s capital markets for 20 years. According to the regulator, Daryl Joseph Klein, of Nanaimo, B.C., sought to prop up his failing pawnshop by finding new investors. He enlisted the aid of Douglas Arnold […]

By Staff |October 19, 2006

3 min read

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Wellington West to go public

Wellington West Capital is planning to make a public offering for about 20% of the company to help fuel its growth on both sides of the border. Charlie Spiring, CEO of the Winnipeg-based brokerage, has confirmed its board has asked management to get the company ready for an IPO in approximately two years. Wellington West […]

By Renée Alexander |October 19, 2006

2 min read

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Briefly:

(October 18, 2006) Less than half of defined benefit pension sponsors are “committed” to maintaining their DB plans and many companies are making significant changes to the way these plans are managed, according to a survey by SEI. In a poll of 302 executives in charge of pensions, the survey found 42% were committed to […]

By Staff |October 18, 2006

3 min read

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Sun Life possibly selling — and buying

A financial services clearance sale may be underway, possibly culminating in a radically-altered landscape for the American operations of Toronto-based Sun Life of Canada. Massachusetts Financial Services Company, generally known as MFS Investment Management, is rumoured to be for sale. Sun Life will only say that it has hired investment bankers to “advise on strategic […]

By Al Emid |October 18, 2006

3 min read

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Briefly:

(October 17, 2006) The Bank of Canada kept its key overnight lending rate at 4.25%, citing weaker-than-expected economic growth in the latter half of the year. “Although global economic growth is expected to be a little higher than previously anticipated, a weaker short-term outlook for the U.S. economy has curbed the near-term prospects for Canadian […]

By Staff |October 17, 2006

3 min read

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