Industry

Decorative pattern

Omnibus ban seen having minimal impact on MFDA firms

(November 30, 2004) A decision by Ontario’s securities regulator to ban omnibus or joint service accounts will have little effect on most mutual fund dealer firms, the MFDA says. Citing investor protection concerns, the Ontario Securities Commission last week ordered MFDA firms to unwind certain business arrangements between MFDA and IDA firms by October 31, […]

By Doug Watt |November 30, 2004

3 min read

Decorative pattern

B.C. advisor sticks to fundamentals

(November 29, 2004) Bowen Island is a long way from Bay Street. And even though B.C. advisor Hans Merkelbach may be considered something of a rebel in the financial services industry, there’s no debating his success. Merkelbach, who is 71, actually retired eight years ago but returned to the advice business in 1999 at his […]

By Doug Watt |November 29, 2004

2 min read

Decorative pattern

Insurers expect fatter margins

(November 29, 2004) Canadian insurance firms are more confident they can grow their margins over the next three years than their U.S. counterparts are, according to a study released by KPMG. The survey covered both life and property and casualty industries. “While U.S. insurers are reasonably optimistic, Canadian insurers are even more so,” said Neil […]

By Steven Lamb |November 29, 2004

2 min read

Decorative pattern

Briefly:

(December 3, 2004) Credit Suisse First Boston Canada (CSFB) has been hit with a heavy fine by Canada’s stock market regulator for improper trading. CSFB was fined $1.35 million and ordered to pay investigation costs of $150,000 to Market Regulation Services (RS) for off-market trading involving more than nine million shares of BCE last year […]

By Staff |November 29, 2004

10 min read

Decorative pattern

Advisors urged to get up to speed on government benefits

(November 26, 2004) Advisors can provide better service to clients and benefit themselves at the same time by learning more about the CPP and other retirement benefits, says tax expert Evelyn Jacks. A CPP audit released by the Retirement Planning Institute earlier this week found errors in one of every six household accounts, resulting in […]

By Doug Watt |November 26, 2004

3 min read

Decorative pattern

BCSC reveals reasons for overturning IDA

(November 26, 2004) The B.C. Securities Commission has released its reasons for overturning the IDA decision in the case of Victoria stockbroker Carolann Steinhoff, erasing fines and penalties levied against her. In an unusual decision, the BCSC reversed the IDA decision on Oct. 28, 2004, criticizing the IDA for having erred in law, overlooked material […]

By Steven Lamb |November 26, 2004

3 min read

Decorative pattern

IDA calls for tax cuts, higher RRSP limits

(November 25, 2004) The IDA is asking the federal government to reduce the capital gains tax rate for small businesses and to introduce modest personal income tax cuts for Canadians. In its pre-budget submission, the brokerage industry association also calls for increased RRSP limits and the removal of proposed income trust restrictions for pension funds. […]

By Doug Watt |November 25, 2004

3 min read

Decorative pattern

CRA offers advice on charity plans

(November 25, 2004) The Canada Customs and Revenue Agency (CRA) has issued a warning to investors considering participation in certain charitable tax shelters, pointing out they could face possible audits, penalties and interest payments. The plans in question are often referred to as “buy low, donate high” schemes, in which tax-filers receive a tax credit […]

By Steven Lamb |November 25, 2004

2 min read

Decorative pattern

CRA offers advice on charity plans

(November 25, 2004) The Canada Customs and Revenue Agency (CRA) has issued a warning to investors considering participation in certain charitable tax shelters, pointing out they could face possible audits, penalties and interest payments. The plans in question are often referred to as “buy low, donate high” schemes, in which tax-filers receive a tax credit […]

By Steven Lamb |November 25, 2004

3 min read

Decorative pattern

Fidelity to ease investor’s fees, advisor’s burden

(November 24, 2004) It may be hard to imagine an arrangement in which three parties benefit, but one of Canada’s biggest fund firms is betting that cutting MERs while increasing advisor payout will lead to better sales and retention. Fidelity Investments has announced a plan to lower its management fees and MERs on its entire […]

By Steven Lamb |November 24, 2004

3 min read

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