Industry

Decorative pattern

Briefly:

(May 26, 2006) The Toronto Financial Services Alliance plans to conduct the first-ever in-depth examination of human resource needs for the city’s financial services sector. The alliance has engaged Deloitte to complete the study, which will present a supply and demand forecast of the skilled workers needed by the sector over the next five years, […]

By Staff |May 26, 2006

4 min read

Decorative pattern

Are ATMs the new marketing vehicle for banks?

As phone and online banking, as well as ATMs, increasingly allows customers to bypass the traditional retail bank branch, how will the retail banks grow their business when their most important customers refuse to walk through the door? According to the 2006 World Retail Banking Report by Capgemini, banks need to design a more sustainable […]

By Mark Brown |May 26, 2006

2 min read

Decorative pattern

Morningstar unveils competing fund categories

Morningstar Canada has released the first draft of proposed new categories for mutual funds, just days before the Canadian Investment Funds Standard Committee prepares to overhaul its system. Morningstar left the CIFSC in March, saying the committee was moving too slowly on fundamental questions such as breaking down major fund categories into subsets. CIFSC’s revised […]

By Mark Brown |May 26, 2006

4 min read

Decorative pattern

MGI Securities, president fined $400,000

MGI Securities and its president, Crawford Gordon, have been fined a total of $400,000 by the IDA for a variety of compliance-related deficiencies. In a settlement agreement announced on Thursday, both MGI and Gordon agreed that they violated IDA regulations by failing to establish and maintain procedures and controls to effectively supervise trading by clients […]

By Doug Watt |May 25, 2006

2 min read

Decorative pattern

Briefly:

(May 25, 2006) The head of the TSX Group says the exchange will likely make a decision on the derivatives market by the end of this year. And Richard Nesbitt has not ruled out taking over the Montreal Exchange as the TSX attempts to keep up with global consolidation. As part of the consolidation of […]

By Staff |May 25, 2006

4 min read

Decorative pattern

FPSC yet to replace Johnston

So far it would seem Don Johnston hasn’t been able to fully enjoy retirement on his southwestern Ontario farm. After announcing last May that the FPSC founding member and two-term president would step down in 2006, the organization still not found a replacement for its 67-year-old leader. “If they had found a replacement by March […]

By Heidi Staseson |May 25, 2006

3 min read

Decorative pattern

Bank of Canada raises rates to 4.25%

It was a bit of a guessing game this time around, but in the end, Canada’s central bank did as most analysts expected, raising its key overnight lending rate 25 basis points to 4.25%. It’s the Bank of Canada’s seventh consecutive rate hike since last fall. The big banks quickly followed suit, raising their prime […]

By Staff |May 24, 2006

1 min read

Decorative pattern

Briefly:

(May 24, 2006) July 1 will mark the first time the GST rate has been changed since the its introduction in 1991. To help with the transition, the CFIB has produced a checklist, developed in collaboration with the federal Department of Finance and the Canada Revenue Agency, to help small businesses prepare for the reduction […]

By Staff |May 24, 2006

5 min read

Decorative pattern

Banks segmenting client base, report suggests

If you think retail banks are impersonal now, just wait. According to the 2006 World Retail Banking Report by Capgemini, banks plan to leverage their various channels to better reach clients, largely at the expense of the one-on-one experience, at least for those at the lower end of the income ladder. And clients apparently prefer […]

By Mark Brown |May 24, 2006

3 min read

Decorative pattern

Briefly:

(May 23, 2006) Sarbit Asset Management has introduced its second product offering — the Sarbit Total Performance Trust, described by the Winnipeg-based company as an “open mandate investment product.” “The fund can invest in any country, in any market capitalization, and in any type of debt instrument,” Sarbit said in a statement. “The fund will […]

By Staff |May 23, 2006

4 min read

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