Industry News

Investment managers defer to management: report

The near-collapse of the American financial system, and the global economic downturn it has caused, have proven the risks associated with lax corporate governance, yet many Canadian investment firms are doing little to hold management’s feet to the fire, according to a study on proxy voting. The eighth annual Key Proxy Vote Survey, conducted by […]

By Steven Lamb |January 29, 2009

2 min read

Industry

Briefly: “Bankruptcies on the rise” and more of Thursday’s news

The slowing economy has led to increased bankruptcies in Canada, according to consumer credit rating agency Equifax Canada. The number of bankruptcies has increased by 9% year-over-year, to 109,068 at the end of November 2008. “Unfortunately, our latest data illustrates that the weaker economy coupled with high personal debt levels has led to an increasing […]

By Staff |January 29, 2009

3 min read

Industry

Budget 2009: Reaction mixed among industry groups

The Canadian life and health insurance industry welcomed the broad-ranging fiscal stimulus measures set out in the Economic Action Plan announced by Finance Minister Jim Flaherty. “The industry is supportive of initiatives to promote financial stability and maintain efficient and well-functioning markets, as well as the tax relief provided to Canadian consumers,” said Frank Swedlove, […]

By Kanupriya Vashisht |January 28, 2009

5 min read

Industry

Briefly: “Canadians expect to work past 65” and more of Wednesday’s news

It is increasingly likely that your clients will continue to work past the traditional age of retirement, according to a study by Sun Life Financial. Nearly half of Canadians said they believed they would work past 65, partly due to financial losses suffered in 2008’s market downturn. Fortunately, this is only part of the reason […]

By Staff |January 28, 2009

4 min read