Industry News

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Gold prices warrant caution

Not all that glitters is gold. There are a number of reasons why you should invest in gold, but advisors need to be wary of the meteoric price of the metal, which could be the result of over-hype. According to a report recently issued by Windsor-based Dan Hallett & Associates, gold investors need to be […]

By Mark Noble |September 28, 2009

4 min read

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Briefly:

Global Maxfin Investments Inc. is growing. The company has agreed to acquire mutual fund dealer Professional Investment Services (Canada) Inc. Once the deal is finalized, Global will have over 250 licensed advisors and over $1.5 billion in assets under its care. “This is an excellent fit for Global. Professional Investment Services (Canada) Inc. provides specialized […]

By Staff |September 28, 2009

3 min read

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Macro-regulation a foregone conclusion

Systemic regulation is coming to financial institutions, with the goal of limiting the risks posed to the overall economy by systemically important institutions — those deemed “too big to fail” in the recent financial crisis. “Our sense is that the first thing we’re going to see on this regulatory reform agenda is going to come […]

By Steven Lamb |September 25, 2009

3 min read

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Briefly:

Manulife is bulking up their retail fund business by officially closing the deal on its purchase of AIC’s Canadian retail investment fund business. Manulife will become the manager of AIC funds in Canada and Portland Investment Counsel will continue as a fund sub-advisor. “This is an excellent fit for Manulife and AIC Limited,” said Paul […]

By Staff |September 25, 2009

2 min read

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IIROC reopens Taub proceedings

IIROC has wasted little time in reopening its case against, Stephen Taub, after a recent Ontario Court of Appeal decision said it’s OK for the regulator to penalize members who have left the industry. Stephen Taub is the most well-known case. Taub, a former stockbroker, stalled enforcement action for more than four years, claiming that […]

By Mark Noble |September 25, 2009

3 min read

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Hyndman confident about national regulator

A single national regulator is essential to Canada, as it will give the country better regulation at home and a greater voice abroad, according to the man charged with developing the Canadian Securities Regulator. Doug Hyndman, chair and CEO of the Canadian Securities Regulation Regime Transition Office (CSTO), admits the goal is ambitious as there […]

By Steven Lamb |September 24, 2009

3 min read

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Fidelity steps up Canadian presence

Fund giant Fidelity Investments Canada has announced a number of changes to its Canadian business that will impact advisor business. Among these is its entrance into the back-office business of Canadian broker/dealer firms. Fidelity Clearing Canada ULC, a new business dedicated to providing clearing, custody and back-office support services to Canadian-based brokerage firms and the […]

By Mark Noble |September 24, 2009

5 min read

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Briefly: ‘HST impact concerns small business owners’ and more news

Small business owners in Ontario are worried about the effect of the harmonized sales tax (HST) on their bottom lines, according to a survey conducted by the Canadian Federation of Independent Business (CFIB). “Governments have clearly dropped the ball in their handling of this critical tax reform initiative,” said CFIB’s Ontario director Satinder Chera. “The […]

By Staff |September 24, 2009

3 min read

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Putting the S back into SRO

Canada’s self regulatory organizations could take on a lot more responsibility in the future, bringing regulation closer to actual financial industry participants. The question is, does anyone in the industry want that? “Self-regulators have become far more robust,” said Paul Bourque, associate partner with the financial advisory practice of Deloitte & Touche, speaking at the […]

By Steven Lamb |September 23, 2009

3 min read

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Briefly:

It is not easy being a parent especially when there are not enough assets to go around. According to a new poll by Edward Jones Canada, 15% of parents with children under 18 at home are favouring their children’s education over their own savings and nearly 26% of parents are primarily saving for retirement. Another […]

By Staff |September 23, 2009

4 min read

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