Industry

Decorative pattern

IDA announces new restitution plan

The funds must be available; The funds must be available; The loss can be clearly traced to the misconduct; Individuals who were wronged and are entitled to restitution can be easily identified; The amount of money owed can be easily ascertained; and, The fund can be simply and efficiently distributed. Still, Oliver concedes, “these circumstances […]

By Mark Brown |May 16, 2006

3 min read

Decorative pattern

Briefly:

(May 16, 2006) Standard Life is holding a special general meeting on May 31 in Edinburgh, Scotland to approve a plan to demutualize Europe’s biggest insurance company and list on the London Stock Exchange. Voting packages have been sent to Standard Life’s 2.4 million eligible members and 2.1 million policyholders around the world. This includes […]

By Staff |May 16, 2006

3 min read

Decorative pattern

Can you prove your clients are informed?

Advisors need to make sure their clients understand the products and services they are receiving, or they could face trouble down the road, according to a pair of experts who are well versed in courtroom proceedings. Jim Bullock, an insurance industry veteran with more than 30 years experience, teamed up with lawyer Harold Geller this […]

By Steven Lamb |May 16, 2006

4 min read

Decorative pattern

Briefly:

(May 15, 2006) It’s a scenario that few have predicted, and may never happen, but what would it mean for investors if the Canadian dollar was level with the greenback? That all depends on the underlying economic forces pushing up the loonie, according to UBS Investment Research. Rising commodity prices, drive by solid global growth […]

By Staff |May 15, 2006

4 min read

Decorative pattern

April fund sales top $500 million

Although not as strong as last year, April was another solid month for the fund industry, with net sales coming in at $537 million, according to IFIC. Overall, Canadian investors and their advisors cashed in their money market funds, opting instead to invest in the top-selling Canadian income balanced and Canadian dividend fund categories. The […]

By Kate McCaffery |May 15, 2006

2 min read

Decorative pattern

Norshield receiver finds $35 million more

Norshield group’s retail creditors — who could be looking at recoveries of as low as three cents on the dollar from their $132 million investment in the failed Montreal hedge fund complex that sponsored the Olympus United funds — may be able to draw on an additional $35 million identified by receiver RSM Richter. Prosecution […]

By Scot Blythe |May 15, 2006

4 min read

Decorative pattern

Briefly:

(May 12, 2006) Dan McTeague, the Liberal MP for Pickering-Scarborough, Ont., has introduced a private members bill to make registered education savings plans tax deductible. The bill, which was introduced on May 4, would align the regulations around RESPs with RRSPs, making them dollar-for-dollar tax-deductible. The plan would allow contributions up to a maximum annual […]

By Staff |May 12, 2006

3 min read

Decorative pattern

NBSC issues investor alert

The New Brunswick Securities Commission is warning investors across Canada, but particularly New Brunswickers, about an investment scheme that appears to be the work of a serial scam artist. The NBSC issued an investor alert and a temporary cease-trade order against First Global Ventures S.A. and Al Grossman on Thursday after the respondents were found […]

By Mark Brown |May 12, 2006

2 min read

Decorative pattern

Seniors prefer the personal touch, study suggests

A new generational study of financial consumers reveals that seniors are more likely to rely on advisors, despite anecdotal evidence that many retirees prefer the do-it-yourself approach. The Forrester survey found that 35% of seniors are “delegators” — leaving all their financial decisions to a professional. That compares to 31% of boomers who described themselves […]

By Doug Watt |May 12, 2006

2 min read

Decorative pattern

Briefly:

(May 11, 2006) Morningstar Canada has announced that for the first time, it has issued ratings on mutual funds in the income trust fund category. The newly issued ratings are based on April’s performance. The inclusion of income trust mandates has added to the number of five star funds offered by a number of manufacturers, […]

By Staff |May 11, 2006

2 min read

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