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(December 13, 2002) Registered education savings plans are missing the mark, doing little to improve access to post-secondary education for most Canadians, says a paper commissioned by the C.D. Howe Institute. The study concludes that RESPs should be phased out and rolled into the existing RRSP program. The study, authored by Kevin Milligan, associate professor […]
By Doug Watt |December 13, 2002
2 min read
New Brunswick: 23.5% (0.64% — $883) B.C.: 24.0% (0.73% — $1,194) Nova Scotia: 24.3% (0.57% — $809) Alberta: 25.1% (0.72% — $1,188) Prince Edward Island: 27.0% (0.68% — $782) Saskatchewan 27.5% (0.77% — $960) Ontario: 28.2% (0.78% — $1,186) Manitoba: 29.0% (0.83% — $1,029) Manitoba: 29.0% (0.83% — $1,029) Ontario: 28.2% (0.78% — $1,186) Saskatchewan […]
By Jim MacDonald |December 12, 2002
3 min read
(December 11, 2002) A recommendation by the House of Commons finance committee to raise annual RRSP contribution limits by nearly 50% is long overdue and a step in the right direction, according to the heads of Canada’s mutual fund and brokerage industry associations. Two weeks ago, the influential committee suggested raising limits to $19,000 from […]
By Doug Watt |December 11, 2002
(December 10, 2002) The Ontario government has passed consumer protection legislation that gives the province’s securities regulator new powers to impose fines. Bill 198, first introduced in October, was given final approval yesterday at Queen’s Park. The Ontario Securities Commission now has the authority to hand out fines of up to $1 million for securities […]
By Doug Watt |December 10, 2002
(December 10, 2002) In its last interest rate announcement of 2002, the U.S. Federal Reserve today left its key overnight lending rate unchanged at 1.25%, a 41-year low. In a statement accompanying today’s decision, the Fed says that “robust underlying growth in productivity is providing ongoing support to economic activity,” suggesting that although further cuts […]
(December 10, 2002) Hundreds of financial advisors in Ontario have joined a lobbying campaign to persuade provincial governments to pay the tab for launching the Mutual Fund Dealers Association. The Federation of Independent Mutual Fund Dealers (FIMFD) launched the petition drive in October, although it has pressed the issue of MFDA start-up costs for more […]
By Jim MacDonald |December 10, 2002
(December 9, 2002) Another huge merger is brewing within Canada’s life insurance industry. Manulife Financial Corporation said today it will make an offer to acquire Canada Life Financial Corporation for more than $6.4 billion. Manulife says the transaction will create Canada’s largest insurance company by market capitalization. Sun Life currently holds this position after it […]
By Jim MacDonald |December 9, 2002
1 min read
(December 9, 2002) The ranks of Canadian life insurance firms could grow thinner through another blockbuster merger proposal. Manulife Financial Corporation is bidding more than $6.4 billion to acquire Canada Life Financial Corporation, less than a year after Sun Life bought Clarica. Manulife said today it wants to acquire all the outstanding common shares of […]
By Staff |December 9, 2002
4 min read
(December 6, 2002) Financial advisors used Advisor.ca’s Talvest Town Hall chat forum to add their voices to the healthcare debate launched by the final report of a royal commission chaired by Roy Romanow. The Romanow commission said the federal government should spend an additional $15 billion on public healthcare over the next four years. The […]
By Jim MacDonald |December 6, 2002
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