Industry News

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Opinion: Canada should ban commissions too

Last week’s regulatory changes by Britain’s Financial Services Authority (FSA) received little coverage here in Canada. However, these are changes that should grab the attention of Canadian advisors, suppliers and regulators alike. The biggest change made was regarding how advisors get paid. The FSA has effectively banned upfront sales commissions from being attached to any […]

By Jason M. Pereira |July 2, 2009

4 min read

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National Bank Financial Group has inked a deal to buy a 20% stake in AlphaPro Management Inc., a subsidiary of BetaPro Management Inc. AlphaPro is the manager of Horizons AlphaPro ETFs, a unique family of actively managed ETFs, with about $64 million in client assets investors. “As interest in ETFs continues to grow, we believe […]

By Staff |July 2, 2009

3 min read

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Poll finds Canadians more optimistic

Canadians are feeling more optimistic about their personal finances and may be willing to move money off of the sidelines again, according to the latest quarterly survey by Manulife Financial. When asked what they expected their finances to look like six months down the road, 52% expected no change from the present while 32% expect […]

By Steven Lamb |July 2, 2009

3 min read

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Rogers Publishing acquires Employee Benefit News Canada

Rogers Publishing Limited announced today that it has acquired the assets of Employee Benefit News Canada from SourceMedia in a transaction that closed June 30, 2009. Rogers Publishing&#8212one of Canada’s largest professional content providers&#8212already publishes Benefits Canada, Avantages and Working Well; titles written for executive and specialist management responsible for the provision of pension and […]

By Jody White |July 2, 2009

2 min read

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Insurance strategies for the recovery

Over the past three months, clients have likely benefited from a reversal of some of the earlier losses in their portfolio. The current equities rally has some analysts believing that the market has begun its recovery, while others judge the rally as unsustainable, with a genuine recovery still further off in the future. Regardless of […]

By Al Emid |June 30, 2009

4 min read

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Face time helps clients brave the storm

Want to make your clients happy? Invest some time, says PriceWaterhouseCoopers’ (PwC) latest Global Private Banking and Wealth Management Survey. Explaining recent spates of poor asset performance — in terms clients can truly understand — takes a great deal of face or phone time, the study notes. That’s a significant problem, since some firms have […]

By Philip Porado |June 30, 2009

3 min read

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Ten more may be added to the short list of people charged in the Madoff Ponzi scheme. So far, only Madoff and his accountant have been criminally charged for the biggest financial charge in history, which has caused losses in the amount of $13 billion to $70 billion to investors. A person who spoke on […]

By Staff |June 30, 2009

3 min read

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Madoff sentenced to 150 years

A federal judge has sentenced Bernard Madoff to 150 years in prison for masterminding the largest Ponzi scheme ever. The sentence is the maximum that he could have received. U.S. District Judge Denny Chin was apparently unmoved by Madoff’s statement of contrition: “I live in a tormented state for all the pain and suffering I […]

By Staff |June 29, 2009

3 min read

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British regulator bans commissions

Last week, the U.K.’s Financial Services Authority (FSA) issued rules that essentially codify a fee model for British investment advisors (IAs) and ban collection of commissions by IAs. The rules will take effect in 2012. The FSA’s principles-based regulatory regime was savaged by investors, government officials and the media following its failure to catch or […]

By Philip Porado |June 29, 2009

2 min read

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Scotiabank’s Commodity Price Index rallied by 2.2% month over month in May. The index, which measures price trends in 32 of Canada’s major exports, hit bottom in April, plunging 45% below its peak in July 2008. However, China’s renewed infrastructure spending and its steady pickup in industrial activity is pushing the index out of its […]

By Staff |June 29, 2009

3 min read

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