Industry News

Decorative pattern

CSA releases review of MFDA

Despite advisor attitudes to the contrary, the Mutual Funds Dealers’ Association processes are efficient, effective, consistent, and fair, according to the Canadian Securities Administrators Oversight Review Report. “The MFDA’s Compliance and Policy departments continue to guide its maturing membership towards a culture of compliance and are reasonably responsive to emerging industry trends,” the report says. […]

By Steven Lamb |July 9, 2010

3 min read

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Fund companies address HST dilemma

Investors outside Ontario and B.C. will feel the pinch of the harmonized sales tax (HST) as mutual fund companies decide to pass it onto them. The additional cost will particularly hurt those saving for retirement. The Investment Counsel Association of Canada (ICAC) is concerned about the impact of HST on Canadians’ ability to save for […]

By Vikram Barhat |July 9, 2010

3 min read

Decorative pattern

Advisors turn bearish on stocks

Canadian advisors have taken a more gloomy view of the stock market’s performance for the third quarter, according a survey by BetaPro Management. The latest Advisor Sentiment Survey found that bullishness toward the S&P/TSX 60 Index dropped nearly fell by 20 percentage points since the Q2 survey, to just 39%, while bearishness rose 15 points […]

By Steven Lamb |July 8, 2010

2 min read

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Stay exposed to a range of assets: Experts

When markets turn volatile, curb your cowboy instincts. Stay invested, stay diversified and don’t time markets. That’s the message financial experts from around the world are trying to send out to investors. Speaking via a webcast hosted for the clients of Fidelity Investments, three of firm’s top portfolio managers shared insights on what’s happening in […]

By Vikram Barhat |July 8, 2010

3 min read

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Briefly:

The MFDA has announced the appointment of Rod McLeod, Q.C. as chair of its board of directors. He recently retired from Miller Thomson LLP, where he had been a partner since 1987. “I am honoured to take on this important role as chair of the board and to continue to assist the MFDA with the […]

By Staff |July 7, 2010

2 min read

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No bond bubble forming: McOuatt

To state the obvious, risk appetite is the first casualty of a yo-yo market. Investors take a flight to safety and bonds come back in vogue. Not surprisingly, the market volatility of the past six months has caused a continued influx of capital into fixed income. In fact, fixed income trading platform CanDeal announced it […]

By Vikram Barhat |July 7, 2010

3 min read

Decorative pattern

Strong long-term fund sales offset by money markets

Mutual fund sales fell into the red in June, but it is too soon to get a handle on how large industry-wide net redemptions were. Preliminary estimates by the Investment Funds Institute of Canada place the number anywhere between $20.9 million and $520.9 million. The good news for the industry is that long-term funds saw […]

By Steven Lamb |July 6, 2010

2 min read

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Briefly:

Businesses are putting fundraising efforts on the back burner and focusing more on economic growth, according to a RBC survey on corporate debt issuance. Just 38% of corporate respondents expect to raise fresh capital in the next two years, despite an expected gradual return to M&A activity, private equity deals, project finance activity and initial […]

By Staff |July 6, 2010

3 min read

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Equities to grind higher despite volatility: BlackRock

Volatility and risk aversion will put pressure on the loonie while U.S. Treasuries will remain the best bet for a flight to safety. The prediction forms the Canadian perspective of an economic commentary by Bob Doll, vice-chairman and chief equity strategist for fundamental equities, BlackRock Inc. In his mid-year update to 10 predictions for the […]

By Vikram Barhat |July 6, 2010

4 min read

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Limit liability with detailed processes

Its hard to get a handle on the number of disputes involving alleged negligence by advisors leading to non-payment of insurance claims — regulators typically do not ask advisors or insurers for this information. But whatever that cryptic total might be, the industry can expect it to rise, according to Jim Bullock, a 45-year veteran […]

By Al Emid |July 5, 2010

4 min read

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