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The Ontario Securities Commission issued a cease trade order last week against the Juniper Equity Growth and the Juniper Income funds. A hearing has been scheduled before the Commission on Thursday, March 23, 2006 to determine whether the temporary order should be extended. The OSC says its staff has been conducting a compliance review into […]
By Kate McCaffery |March 13, 2006
2 min read
Six months of net redemptions at AIM Trimark has highlighted advisor and client concerns about current holdings and their wariness of new deposits. As with preceding months, February’s net redemptions of $289 million resulted from both of those factors. Inflows fell by almost 50% compared to February 2005, while total redemptions rose by 14%. Most […]
By Al Emid |March 13, 2006
3 min read
The IDA has quietly launched an appeal of a Saskatchewan hearing panel decision that threatens to unravel the regulator’s power to discipline its former members. Although the case has attracted little public attention, it could force Canada’s securities commissions to act if the IDA loses. Last month, a Saskatchewan Financial Services Commission hearing panel determined […]
By Mark Brown |March 10, 2006
4 min read
Real estate values have been on a tear for the past five years in many parts of Canada, as low interest rates have encouraged investors to enter the housing market. With easy access to cheap money and innovations such as “zero-down” mortgages, many Canadians have dipped their toes into real estate as an investment. As […]
By Steven Lamb |March 10, 2006
Standard Life Financial has announced the sale of mutual fund dealer Performa Financial Group to Optifund Investments, a subsidiary of Desjardins Financial Security. “Desjardins Financial Security wants to double its market share outside Quebec,” said François Joly, president and COO of Desjardins Financial Security. “The transaction we are announcing today will help us reach that […]
By Steven Lamb |March 9, 2006
1 min read
There appears to be light at the end of the tunnel for investors in the beleaguered Crocus Investment Fund. About 650 shareholders were presented with a proposal Wednesday night from David Levi, CEO of GrowthWorks Capital, at a special meeting in Winnipeg that would see them receive a cash payment of $1.55 per share and […]
By Geoff Kirbyson |March 9, 2006
The president of the National Bank of Canada says banks should be able to offer information on insurance products in branches, calling the current system “anachronistic and unjustified.” In a speech today to bank shareholders in Montreal, Réal Raymond said that the current regulatory framework “imposes serious limits on our insurance strategy and our ability […]
By Doug Watt |March 8, 2006
Conventional wisdom suggests that RRSP season is the busiest time of year for the financial services industry. This year though, more and more advisors say the weeks leading up to the March 1 deadline was hardly a time of stress or concern. In fact, RRSP season sounds like a relatively relaxed affair for planners with […]
By Kate McCaffery |March 8, 2006
It’s not even up and running yet, but the IDA’s recently spun-off trade association has already identified several key tax issues as it prepares for an April 1 launch. The new trade association will retain the Investment Dealers Association name, albeit with a new logo, and will be headed by IDA senior vice president Ian […]
By Doug Watt |March 7, 2006
GrowthWorks says it has entered into discussions related to a possible merger with troubled Winnipeg-based labour fund Crocus. In a release late Tuesday, Vancouver-based GrowthWorks said it had been invited to make a presentation to Crocus Investment Fund shareholders on March 8, 2006. More details will be released following the meeting, GrowthWorks said. “GrowthWorks has […]
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