Industry

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Fund sales on a roll in January

Canada’s mutual fund industry enjoyed brisk sales in January, as investors pumped $1.6 billion in net new cash into funds, according to the latest data from IFIC. Including $533.1 million in re-invested dividends, net sales totaled $2.1 billion for the month. “It was an excellent month for sales of long term funds — the highest […]

By Steven Lamb |February 15, 2006

3 min read

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Keep insurance out of banks, says Advocis

Advocis is fighting back against a proposal to offer insurance information in bank branches, saying that Canadians are concerned about the use of their personal information, as well as sales pressure at the banks. A survey released on Thursday, conducted by Pollara for Advocis, indicates that 78% of Canadians believe that the current prohibition on […]

By Doug Watt |February 15, 2006

3 min read

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Consumers want insurance info, bankers’ poll suggests

That consumers be afforded access to insurance product information from bank branches That banks be permitted to tailor insurance information to the individual That the banks be permitted to share information, on the client’s approval, with insurance professionals That bank staff be allowed to refer clients to external insurance professionals The CBA says its poll […]

By Steven Lamb |February 14, 2006

3 min read

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IFIC weighs in on bankruptcy protection proposals

In the final days of the Liberal government, members of parliament and the senate pushed through an interesting bit of legislation that could have a significant effect on retirement planning strategies for business owners. The Wage Earner Protection Program Act was given royal assent on November 25, 2005, without public consultation or amendments, just two […]

By Kate McCaffery |February 14, 2006

3 min read

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Briefly:

(February 17, 2006) Fears of poor governance among income funds is greatly overblown, according to an study by SECOR Consulting, commissioned by the Real Property Association of Canada (REALpac) and the Canadian Association of Income Funds (CAIF). In fact, the study finds governance to be comparable to corporations. “At a time when corporate governance across […]

By Staff |February 13, 2006

10 min read

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B.C. delays implementation of new Securities Act

British Columbia has decided to play ball with other provinces, putting off the introduction of a new Securities Act until at least the end of 2007, opting instead to support the passport system. The British Columbia Securities Commission’s original changes to the act proposed a principles, rather than rules-based, regulatory regime, replacing existing regulations for […]

By Doug Watt |February 13, 2006

2 min read

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Positive year ahead for financial planners?

The economic stars could be aligning to make 2006 a profitable year for financial planners. The overall picture painted by analysts in the Winter 2006 edition of the Conference Board of Canada’s quarterly newsletter, Inside Edge, suggests the housing market will pull back to more sustainable levels and the U.S. economy could provide some interesting […]

By Kate McCaffery |February 13, 2006

3 min read

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Saskatchewan regulator rules against IDA

Regulators in Saskatchewan have ruled that the IDA does not have the right to bring disciplinary action against brokers after they have left the industry. This is a major setback for the IDA, which has been looking to the provincial securities commissions to back its enforcement efforts. The case dates back 10 years, and involves […]

By Mark Brown |February 10, 2006

3 min read

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Tallying up the Tories’ tax promises

Offering employers up to $10,000 for each new child care space created for employees. Introducing a monthly transit pass tax credit. This would be similar to the $500 employment expense deduction that was eliminated a few years ago, which was an acknowledgement by the tax system of the cost of going to work. Exempting the […]

By Mark Brown |February 9, 2006

2 min read

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Tax cut seen boosting charity gifts

Experts in the charitable giving field are hopeful that the Conservative government of Stephen Harper will follow through on a promise to eliminate capital gains taxes on equity donations. Such a move would have a huge impact, according to a report penned by Don Drummond, chief economist at TD Bank Financial Group. Dubbed a “sleeper […]

By Steven Lamb |February 9, 2006

2 min read

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