Industry

Decorative pattern

FSCO

(October 27, 2004) Regulatory scrutiny of the commission structure in the insurance industry has moved north of the border, as the Ontario government has directed the Financial Services Commission of Ontario (FSCO) to review the use of contingent commissions. FSCO is remaining tightlipped about its role. “We will be providing information to the ministry,” says […]

By Steven Lamb |October 27, 2004

1 min read

Decorative pattern

Market volatility around U.S. election seen as short-term

(October 27, 2004) The stock markets could be jumpy in the days around next week’s tight race for U.S. president, but long term it likely won’t make much difference, says the author of a new study on elections and market trends. “Markets rally as soon as it becomes apparent who is going to be elected,” […]

By Doug Watt |October 27, 2004

3 min read

Decorative pattern

Deposit broker calls for CDIC overhaul

(October 26, 2004) The protection provided by the Canada Deposit Insurance Corporation (CDIC) has been seriously eroded by inflation and should be bumped up to $100,000 from the current level of $60,000, says David Newman, a deposit broker with Fiscal Agents in Oakville, Ontario. The CDIC insures eligible deposits at member institutions and reimburses depositors […]

By Doug Watt |October 26, 2004

2 min read

Decorative pattern

Radio-Canada

(October 26, 2004) If Canada’s financial advisors were growing accustomed to abuse in the national print media, they are today facing public scrutiny in perhaps the most influential media source of all: national television. While New York State Attorney General Eliot Spitzer investigates contingency commissions in the U.S. insurance industry, a report on the French […]

By Steven Lamb |October 26, 2004

2 min read

Decorative pattern

Briefly:

(October 29, 2004) In an unusual move, the British Columbia Securities Commission (BCSC) has denied a request by the IDA to increase penalties against a rogue broker. Last year, Robert Gawthrop admitted to violating IDA rules by selling “off-book” investment products. In 2001, Gawthrop, while working for Dundee Securities, referred some clients directly to a […]

By Staff |October 25, 2004

5 min read

Decorative pattern

Labour fund assets recover, but sales still weak

(October 25, 2004) Labour fund assets have almost returned to their 2000 levels — the peak of the Silicon Valley IPO boom — but sales are still down from the rates attained in the late 1990s, according to data from Toronto consultancy Investor Economics. “The number of Labour-Sponsored Investment Funds is at a record high,” […]

By Scot Blythe |October 25, 2004

3 min read

Decorative pattern

Insurance investigation creeps north of the border

(October 25, 2004) A U.S. investigation into allegations of hidden commissions in the insurance industry is starting to make waves in Canada. But the probe has so far focused on the property and casualty side of the business and life agents here aren’t anticipating much negative fallout. “I don’t think it’s an issue in the […]

By Doug Watt |October 25, 2004

4 min read

Decorative pattern

Advisor Forum update: Income trusts no flash in the pan, advisors told

(October 22, 2004) The booming income trust market will always have its naysayers, but there are compelling reasons to believe that trusts are here to stay and will remain profitable, according to Dean Orrico, portfolio manager at Middlefield Income Funds, who spoke at the Halifax Advisor Forum earlier this week. Admittedly, Orrico has a vested […]

By Doug Watt |October 22, 2004

3 min read

Decorative pattern

OSC bows to pressure on disclosure of investigations

(October 21, 2004) Ontario’s securities regulator, which has in the past refused to confirm if a company or individual is under investigation, is backing away from that strict policy, today publishing guidelines for staff to use to decide whether it is appropriate to disclose an ongoing investigation. “Investors and our markets are best served when […]

By Doug Watt |October 21, 2004

2 min read

Decorative pattern

Canadians not saving enough, survey confirms

(October 21, 2004) Only 42% of Canadians have stashed away “rainy day” money and three-quarters say they would have enough cash to last only three months if they were without a regular source of income, according to a study released today by Scotiabank. “The good news is that Canadians are saving more than Americans,” says […]

By Doug Watt |October 21, 2004

2 min read

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