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(April 15, 2003) After more than a year of talks, the Mutual Fund Dealers Association has reached a co-operative agreement with regulators in Quebec. Under the terms of the deal, the MFDA, Bureau des service financiers (BSF) and the Chambre de la securité financière will work together to supervise fund dealers with operations in Quebec. […]
By Doug Watt |April 15, 2003
2 min read
(April 14, 2003) Despite a market rally in March, mutual fund performance for the first three months of the year was overwhelmingly negative. Ninety-one per cent of Canadian mutual funds lost money in the first quarter of 2003, according to data released today by Morningstar Canada. “While the war in Iraq boosted U.S. equity markets […]
By Doug Watt |April 14, 2003
(April 11, 2003) The Canadian Institute of Financial Planners, the new kid on the advisor association block, has announced details of its first conference, to be held in Ontario’s Muskoka region on June 2 and 3. Industry speakers at the two-day event include Financial Planning Standards Board chair John Carpenter and Investment Funds Institute of […]
By Doug Watt |April 11, 2003
RBC Global Investment Management OPSEU Pension Trust Ontario Teachers’ Pension Trust MFC Global Investment Management Mackenzie Financial Corp. LaSalle Firefighters Pension Plan KBSH Capital Management Inc. Jarislowsky Fraser Limited International Finance Participation Trust Franklin Templeton Investments Corp. Connor, Clark & Lunn Investment Management Burgundy Asset Management AMI Partners Inc. Aurion Capital Management Inc. Alberta Teachers’ […]
(April 10, 2003) The new chair of the Canadian Securities Administrators has made it clear he wants to focus on harmonizing the country’s securities laws, not creating a single national regulator. Stephen Sibold, appointed as CSA chair this week, says his uniform securities legislation project is in the “right place at the right time” as […]
By Doug Watt |April 10, 2003
Donald J. Inch of Victoria, B.C. Paul Hirtle of Thunder Bay, Ontario Diane Geverink of Toronto, Ontario John Flasch of Hamilton, Ontario Reta Flanagan of Victoria, B.C. Nora Dowsett of Duncan, B.C. Lynn Cain of Ottawa, Ontario Stacey Browning of Belleville, Ontario Stacey Browning of Belleville, Ontario Lynn Cain of Ottawa, Ontario Nora Dowsett of […]
By John Craig |April 9, 2003
1 min read
(April 9, 2003) Air Canada’s $1.3 billion pension plan deficit did not force the airline into bankruptcy protection, according to the Office of the Superintendent of Financial Institutions, the regulator responsible for federal pension plans. Testing earlier this year revealed the possibility of a deficit, OSFI says. The regulator then asked Air Canada to put […]
By Doug Watt |April 9, 2003
(April 8, 2003) Alberta Securities Commission head Stephen Sibold has been given the offical nod to become the new chair of the Canadian Securities Administrators, the umbrella organization for Canada’s 13 securities regulators. Sibold takes over from British Columbia Securities Commission chair Douglas Hyndman, who served as CSA chair for the past eight years. “As […]
By John Craig |April 8, 2003
(April 8, 2003) "Taxes exceed management fees and brokerage commissions in their ability to erode long-term investment returns," write Amin Mawani and Moshe Milevsky, both professors at the Schulich School of Business at York University in Toronto, and Kamphol Panyagometh, a post-doctoral researcher working with Mawani and Milevsky. Their work, “The Impact of Personal Income […]
By Scot Blythe |April 8, 2003
(April 8, 2003) Advisors have long recognized the danger of chasing performance: investors may be buying a fund just as it is peaking. But there’s another hazard to performance: data may disguise substantial tax liabilities. A study by Canadian researchers suggests that taxes eat up as much as 15% of the average fund return, which […]
3 min read
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