Industry News

Decorative pattern

Briefly:

Middlefield has added a new fund to its lineup of class funds: Global Agriculture Class. As part of the family of class funds, investors can make switches between other class funds without triggering capital gains for tax purposes. The company also announced that Series F shares will now be offered for the following funds: Canadian […]

By Staff |May 28, 2009

3 min read

Decorative pattern

DRP discounts offered to save cash

A trend is surfacing among large financial corporations to actively encourage shareholders to participate in dividend reinvestment plans (DRP), offering shares at a discount. On Thursday, CIBC announced a 3% discount on DRP reinvestment, and extended the plan to preferred shareholders. The discount applies to the “dividend reinvestment option” of the plan, but not the […]

By Steven Lamb |May 28, 2009

2 min read

Decorative pattern

GMWB features get rolled back

SunWise Elite Mackenzie SunWise Elite Dynamic Power American Growth Fund SunWise Elite CI Value Trust Corporate Fund SunWise Elite CI Global Bond Fund SunWise Elite CI Global Bond Fund SunWise Elite CI Value Trust Corporate Fund SunWise Elite Dynamic Power American Growth Fund SunWise Elite Mackenzie SunWise Elite Mackenzie Cundill Canadian Balanced Fund SunWise Elite […]

By Mark Noble |May 28, 2009

5 min read

Decorative pattern

Stay the course, Forchuk says

The current recession is just another economic blip and not the end of the financial system as we know it, according to one insurance veteran. In a presentation to the Independent Financial Brokers’ Spring Summit, Rick Forchuk, associate vice-president, individual distribution, Empire Life, said comparing the current recession to the Great Depression is akin to […]

By Steven Lamb |May 27, 2009

3 min read

Decorative pattern

Policyholders have strong insolvency protection

Clients are probably unaware of the policy benefit protections in place in the case of insurer failure, if a morning session at the Independent Financial Brokers Spring Summit in Toronto is any indication. There have only been three insurance insolvencies over the last generation in Canada, two of those were the Confederation Life and Sovereign […]

By Mark Noble |May 27, 2009

4 min read

Decorative pattern

Briefly:

Sun Life and CI announced today changes to their segregated fund lineup. Beginning July 31, 2009, or later, under the terms and conditions of each segregated fund contract, there will be an increase in the insurance fees and certain funds will be closed to new investments. According Sun Life executives, these changes are being made […]

By Staff |May 27, 2009

3 min read

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Briefly:

Investigators working out of the York Regional Police Central Fraud Bureau charged Kevin Banks with defrauding victims of more than $900,000 in the town of Newmarket and the city of Barrie. Banks, 50, used his financial planning and wealth management group, Kevin Banks Financial Planning Group Limited and Generations Wealth Management, to operate the alleged […]

By Staff |May 26, 2009

4 min read

Decorative pattern

Muted outlook for oil prices

As prices start moving sharply upwards at the pumps, it’s inevitable clients will be asking about oil as an investment. But the outlook for oil prices is not as strong as the recent run-up would suggest, according to number of analysts. The price of a barrel of oil has accompanied the stock market rally going […]

By Mark Noble |May 26, 2009

4 min read

Decorative pattern

Briefly:

The Investment Industry Regulatory Organization of Canada (IIROC) has announced the launch of a whistleblower hotline to allow those with first-hand knowledge of wrongdoing in the securities industry to report it. “This service will ensure that individuals who believe that they have significant information to convey deal directly with IIROC senior staff who will ensure […]

By Staff |May 25, 2009

3 min read

Decorative pattern

Commodities, China could lead recovery

Even though the country is still officially in recession, Finance Minister Jim Flaherty agreed today the economy is “showing some good signs.” Those good signs are reflected mostly in the bullish sentiment returning to the commodities market with base metals and crude oil lifting off lows reached in December. Patricia Mohr, vice-president, economics, and commodity […]

By Kanupriya Vashisht |May 25, 2009

3 min read

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