Industry

Decorative pattern

IFIC calls for NRD fee reduction

(March 6, 2003) The Investment Funds Institute of Canada wants regulators to reduce the first annual fee for the National Registration Database, scheduled to launch at the end of the month. IFIC says the Canadian Securities Administrators plans to collect a full year of fees for 2003 on May 30, even though the database will […]

By Doug Watt |March 6, 2003

2 min read

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RRSP season brings lower contributions, advisors report

(March 5, 2003) “Slow and low.” That’s the succinct phrase Denzil Feinberg of Feinberg Financial in Winnipeg uses to describe this year’s just-completed RRSP season. While not all advisors report the same experience, there’s no question that weak markets have put a dent in contribution levels for 2002. Yesterday, the Investment Funds Institute of Canada […]

By Doug Watt |March 5, 2003

3 min read

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Industry groups welcome

(March 5, 2003) Industry groups are applauding federal Finance Minister John Manley’s appointments to a wise persons committee, mandated to examine ways to reform the country’s fragmented system of securities regulation. The committee will be chaired by Vancouver-based Michael Phelps, chair of Dornoch Capital and the former head of Westcoast Energy. Saskatchewan securities lawyer Harold […]

By Doug Watt |March 5, 2003

2 min read

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BoC notches up key rate by 25 basis points

(March 4, 2003) In a bid to stem rising inflation, the Bank of Canada boosted the target for its overnight rate by 25 basis points, or one-quarter of one percentage point, to 3% this morning. Today’s decision comes in the wake of a report last week that Canada’s annual rate of inflation hit 4.5% in […]

By John Craig |March 4, 2003

2 min read

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Fund industry mired in recession, researcher says

(March 4, 2003) Canada’s investment fund industry is in a recession, characterized by weak sales amid under-performing markets, says Investor Economics president Earl Bederman. But despite the gloomy scenario painted by the mainstream media, the fund industry researcher says there are some positive trends, particularly for advisors. Total mutual and segregated fund industry assets stood […]

By Doug Watt |March 4, 2003

2 min read

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Corporate accountability focus of social investment conference

(March 3, 2003) Canada’s social investment community is gearing up for its biannual conference, with organizers promising to pay special attention to corporate accountability and governance issues. The conference, sponsored by the Social Investment Organization, is scheduled for June 1-3 in Vancouver. “With corporate scrutiny at an all-time high, investors are demanding that companies be […]

By Doug Watt |March 3, 2003

1 min read

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IDA chair welcomes regulatory reform initiatives

(February 28, 2003) Recent efforts to update Canada’s system of securities regulation at both the federal and provincial levels “promise success,” says the chair of the Investment Dealers Association. But Terry Salman says the reform process must be collaborative and driven by political will or risk being derailed by inertia and vested interests. “The federal […]

By Doug Watt |February 28, 2003

2 min read

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Retirement dreams don’t match reality, poll suggests

(February 27, 2003) Dreams of winter getaways and increased leisure time devoted to hobbies don’t match reality for today’s retired Canadians, a survey suggests. Although 62% of Canadians under the age of 50 selected winter holidays as their preferred retirement lifestyle, only 30% of those who are actually retired say they escape the worst months […]

By Doug Watt |February 27, 2003

3 min read

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Crow calls for higher rates, move could bring client admiration to advisors

(February 26, 2003) Proving again why he attracts admiration or contempt but rarely indifference from observers, John Crow weighed in for raising interest rates in Canada and highlighted the good news in currency swings during a Tuesday address in Toronto. Speaking at the Economic Club of Toronto, the former Bank of Canada governor said that […]

By Art Melo |February 26, 2003

3 min read

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Securities commissions should team up on deregulation efforts, Advocis says

(February 25, 2003) Two of Canada’s largest provincial securities regulators should collaborate on a pair of like-minded deregulation initiatives, says Advocis, the country’s largest professional association for financial advisors. Although the British Columbia Securities Commission’s proposals for new mutual fund regulations and the Ontario Securities Commission’s suggested fair dealing model are separate projects, the similarities […]

By Doug Watt |February 25, 2003

2 min read

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