Industry News

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Women make little progress in industry

Women in financial services may have come a long way but not far enough. Despite small gains in the banking industry, women in capital markets have made virtually no progress in the last eight years, according to a new study released Monday. The study, called Catalyst’s Report to Women in Capital Markets, found 39% of […]

By Deanne Gage |June 23, 2009

3 min read

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OECD targets

It’s a long-standing principle in high net worth tax-planning: You can’t tax what you can’t find. Stashing money away in jurisdictions that offer bank secrecy is an established tradition amongst the world’s wealthiest, but advisors may want to think twice about this strategy. The Organization for Economic Co-operation and Development is meeting this week in […]

By Steven Lamb |June 23, 2009

3 min read

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Briefly:

The Investment Industry Association of Canada (IIAC) is pleased with finance minister Jim Flaherty’s decision to launch a Canadian Securities Transition Office, which will work closely with the provinces and territories to develop a federal Securities Act and design a transition plan for a single securities regulator. IIAC also endorsed the appointment of Doug Hyndman […]

By Staff |June 23, 2009

3 min read

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Manulife faces OSC, changes CFO

Manulife Financial announced late on Friday that it had received a notice of enforcement from the Ontario Securities Commission regarding the firm’s level of disclosure on the risks posed by its variable annuity guarantee and segregated funds business. The stock market’s precipitous decline last fall left the company with underfunded liabilities in these guaranteed products, […]

By Steven Lamb |June 22, 2009

3 min read

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Northwest & Ethical Investments today announced a change to the portfolio management of its Ethical Canadian Dividend Fund. Current co-manager QV Investors Inc. — which has managed the fund in conjunction with Highstreet Asset Management Inc. for the past two years — has been awarded full portfolio mandate, effective immediately. Northwest & Ethical also terminated […]

By Staff |June 22, 2009

4 min read

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Feds initiate transition to national regulator

The transition to a national securities regulator is underway. Jim Flaherty, Minister of Finance, announced the launch of a transition office, which will lead Canada’s effort to establish the Canadian securities regulator. The Transition Office will lead all aspects of the transition to a national regulator, including the development of a federal Securities Act, collaborating […]

By Mark Noble |June 22, 2009

2 min read

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In a speech to the Regina and District Chamber of Commerce, Bank of Canada Governor Mark Carney explained that much hard work remains to be done before a recovery will take hold. Amid all the talk of “green shoots” in the global economy, he likens the process of recovery to the methodical and innovative process […]

By Staff |June 19, 2009

3 min read

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CSA calls for point-of-sale comment

The Canadian Securities Administrators’ point-of-sale (POS) disclosure scheme has taken another step forward, with the publication for comment of proposed amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure. “The current market conditions highlight the need for investors to fully understand what they are buying,” says Jean St-Gelais, CSA chair, and president and CEO of […]

By Steven Lamb |June 19, 2009

3 min read

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Industry braces for

With the break in Parliament for the summer, you have at least three months of using email as a means to contact new clients. It is expected that in the fall, legislation will be introduced before the House of Commons that will effectively ban email communication to clients and prospects without obtaining some form of […]

By Mark Noble |June 19, 2009

3 min read

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Mackenzie Financial Services Inc. has announced the addition of two new fixed income offerings to its mutual funds lineup. The Mackenzie Sentinel Short-term Government Bond Fund aims to provide a higher return than money market funds. Chris Kresic, senior vice-president, investments, with Mackenzie, has been tapped as lead manager, and the fund will be available […]

By Staff |June 18, 2009

3 min read

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