Industry

Decorative pattern

Briefly:

(August 2, 2006) TD Bank Financial Group economists are calling for an imminent economic slowdown south of the border that may have an impact on the Canadian economy. However, Canada’s strong economic diversification may prevent the nation from feeling the full effects. Economist Sebastién Lavoie says industries that are highly exposed to the U.S. market […]

By Staff |August 2, 2006

2 min read

Decorative pattern

Big changes at Seamark

Seamark Asset Management has undergone a major shake-up of its executive team, with a series of new appointments, several job cuts and the sudden resignation of one of its vice-presidents. The changes come less than six months after ClaringtonFunds shifted the bulk of their fund management away from Seamark to Industrial Alliance. In 2005, ClairingtonFunds […]

By Mark Brown |August 2, 2006

3 min read

Decorative pattern

Emerging market funds lead July bounce

Investors beaten up by market volatility in May and June were given a chance to catch their breath in July, as most mutual fund categories posted gains, according to preliminary data compiled by Morningstar Canada. Of the 31 fund indices Morningstar tracks, 28 ended the month higher. Emerging markets funds were the top performers, with […]

By Steven Lamb |August 2, 2006

3 min read

Decorative pattern

Ethically speaking: Trailer talk

(August 2006) We asked FCSI designees from coast-to-coast to respond to your ethical conundrums — everything from culling clients, to specific fund recommendation and a host of suitability issues. In this month’s column hear what FCSI Michele Vincenti suggests for an advisor who is aggressively promoting a poor-performing fund to her clients. You Wanted To […]

By Staff |August 1, 2006

3 min read

Decorative pattern

Briefly:

(August 1, 2006) Unity Life of Canada announced today that the company has acquired the Canadian intermediate, weekly premium life and Canadian individual health insurance books of business from New Jersey based, Prudential Insurance Company of America. The company says the completed acquisition, announced back in June, adds scale to Unity Life’s business and demonstrates […]

By Staff |August 1, 2006

2 min read

Decorative pattern

Former Advocis chair, Gary McLeod, passes away

Advocis has announced the passing of Gary McLeod, the immediate past chair of the association. He was 58 years old. “He will be remembered at Advocis and the Conference for Advanced Life Underwriting for the skill with which he led these organizations and for his years as a volunteer,” current Advocis chair Roger McMillan said […]

By Steven Lamb |August 1, 2006

2 min read

Decorative pattern

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(July 31, 2006) The Ontario Securities Commission alleged Monday morning that Biovail Corporation chairman, Eugene Melnyk, along with Biovail director and chief operating officer of Watt Carmichael, Roger Rowan, actively violated a number of insider trading securities laws. Watt Carmichael was also alleged to have mislead regulators and failed to have adequately supervised trading in […]

By Staff |July 31, 2006

3 min read

Decorative pattern

Economic flat spot points to rate cut, economists say

Canada’s economic growth seems to have hit a plateau earlier this year, with trouble in sight. StatsCan reported Monday morning that GDP growth for May was flat. Coming on the heels of two straight months of just 0.1% growth, the flat spot is raising some eyebrows. “In its July monetary policy review update, the Bank […]

By Steven Lamb |July 31, 2006

3 min read

Decorative pattern

Briefly:

(July 28, 2006) CIBC World Markets reports that Canada’s provincial governments are taking advantage of their improved budgetary positions to bolster the financial health of their public sector pension plans. Most notably, CIBC found that Quebec’s Retirement Plans Sinking Fund, created in 1993 to pay pension benefits, returned an average 9.3% during the past decade, […]

By Staff |July 28, 2006

3 min read

Decorative pattern

Insurance agents get their passport

Canadian insurance agents and brokers can now work anywhere in the country. In June, the Canadian Council of Insurance Regulators and the Canadian Insurance Services Regulatory Organization approved a reciprocal licensing system, similar to the passport model talked about in the securities industry. The reliance model, which quietly came into effect on July 4, will […]

By Mark Brown |July 28, 2006

3 min read

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