Industry

Decorative pattern

New Brunswick regulator issues trading bans

The New Brunswick Securities Commission has banned Al Grossman and First Trading Global Venture from trading securities following allegations that shares in the Panamanian-based firm were being solicited in violation of the province’s securities laws. As well as the trading ban in New Brunswick, the two parties are prohibited from using any exemptions that would […]

By Staff |July 6, 2006

2 min read

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Mackenzie launches charitable giving fund

If a recent survey conducted by Decima Research and Mackenzie Financial is any indication, the majority of your clients don’t know about recent federal government changes that allow taxpayers to donate securities to charity and pay no capital gains tax. Mackenzie though expects charitable giving awareness to grow, and hopes to facilitate the movement, and […]

By Kate McCaffery |July 6, 2006

3 min read

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Briefly:

(July 5, 2006) The manager of a now defunct Vancouver mutual fund company has agreed to pay a total of $50,000 in penalties and fines to the British Columbia Securities Commission. In a settlement agreement, Raoul Noel Tsakok of Sagit Investment Management admitted to compliance deficiencies and the violation of securities regulations. Sagit ran 16 […]

By Staff |July 5, 2006

4 min read

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Funds returns soft through Q2 despite June rally

Mutual fund performance was pretty dismal in the second quarter despite a June rally in many categories, according to Morningstar Canada. Just three out of 31 fund indices had a positive return for the three months ended June 30 — Canadian and U.S. money markets, and the real estate index. The real estate index managed […]

By Steven Lamb |July 5, 2006

2 min read

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(July 4, 2006) The IDA has permanently banned Robertson Rodger Dow, formerly of Octagon Capital in Toronto, for a number of trading infractions, including accepting orders from an individual apparently associated with organized crime. Following a disciplinary hearing held last week, an IDA panel ruled that Dow accepted orders to trade from an individual he […]

By Staff |July 4, 2006

4 min read

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Investors grade Fed chair’s performance

A significant number of U.S. investors think that U.S. Federal Reserve Chair Ben Bernanke performance has been “only fair” since he was appointed last fall. According to a UBS Investment/Gallup poll conducted last month, 39% of investors questioned rated Bernanke’s performance as fair, while 32% felt he was doing a good job. However, around 23% […]

By Doug Watt |July 4, 2006

2 min read

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Understanding insurance: Survey results reveal troubling trend

Like beauty, statistics — and their significance — may lie in the eye of the beholder — or those of the insurance practitioner when reviewing a recent survey conducted for Guelph-based insurer the Cooperators Group. According to the survey, 66% of Canadians find insurance “difficult to understand” while 63% feel “unsure how premiums are calculated.” […]

By Al Emid |July 4, 2006

3 min read

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(June 30, 2006) Federal Finance Minister Jim Flaherty has confirmed the appointment of Bryan Davies as chair of the Canada Deposit Insurance Corporation. Davies, the former head of FSCO, Ontario’s insurance regulator, will serve a five-year term as CDIC chair. “With his tremendous experience in the financial sector as a supervisor and policy-maker, and as […]

By Staff |June 30, 2006

3 min read

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What to expect from your new SRO

With its new ability to focus strictly on regulation, many IDA members might well be wondering what direction the industry’s self-regulatory organization will take and what systems will be overhauled, particularly in the wake of the proposed merger with Market Regulation Services (RS). In one of his last speeches at president and CEO of the […]

By Kate McCaffery |June 30, 2006

3 min read

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GST not the only Canada Day tax change

Although most of the attention has been focused on Ottawa’s decision to reduce the GST by a single percentage point, there are several other tax alternations taking effect July 1 that could have an impact on your clients. And not all of them are positive. Investors Group tax specialist Myron Knodel points out that the […]

By Doug Watt |June 30, 2006

2 min read

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