Industry News

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Mackenzie Financial has hired George Morgan as senior vice-president and portfolio manager at its Mackenzie Cundill Investment Management subsidiary. Morgan is perhaps best known for having managed the Templeton Growth Fund until his retirement in 2006. He will now manage the Mackenzie Cundill American Class and provide research coverage for North American equities and the […]

By Staff |January 12, 2009

4 min read

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Judge approves ABCP plan

Investors left holding the bag on frozen asset-backed commercial paper may soon get access to their money after Superior Court of Ontario Justice Colin Campbell issued an order that restructuring plan be implemented. The restructuring plan — which affects about $32 billion in frozen consumer debt instruments — is expected to close on or about […]

By Steven Lamb |January 12, 2009

2 min read

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Expert panel recommends single securities regulator

The federally commissioned Expert Panel on Securities Regulation, headed by former Cabinet minister Tom Hockin, proposed today the creation of a national securities regulator, which would allow Canadian companies to file a single set of documents directly with the federal body, without getting entangled with provincial regulators. “Our central recommendation is that Canadians need a […]

By Kanupriya Vashisht |January 12, 2009

3 min read

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The worst period for Canadian equity returns in generations may already be over, but recovery will depend on whether North America launches a credible fiscal stimulus package in the coming weeks, notes a new CIBC World Markets report. “The bad news is that we are in a recession, and a fairly deep one at that. […]

By Staff |January 9, 2009

6 min read

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Week in review: January 5-9, 2009 (plus bonus holiday coverage)

Welcome to the weekly roundup of news affecting you, as covered by Advisor.ca and our sister publication, Conseiller.ca. Read this section every week to catch up on the news you missed, or click here and subscribe to get regular updates sent to your inbox or BlackBerry. Skip to: Quick links, stories this week. Or click […]

By Kate McCaffery |January 9, 2009

10 min read

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Problems abound with personal lending

There is no easy way to lend to family and friends, as was most recently demonstrated by the Supreme Court decision regarding the Lipson case on Thursday. Advisors who have clients engaged in personal lending have to walk a fine line between offering complex financial advice and steering clear of emotional issues associated with them. […]

By Mark Noble |January 9, 2009

4 min read

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Supreme Court rules against Lipson

The Supreme Court of Canada has dismissed the appeal of Earl and Jordan B. Lipson, upholding the earlier decision by the Tax Court that the pair had breached the general anti-avoidance rule (GAAR). The decision was split, with three of the seven justices dissenting. In the written decision, the majority said: “The GAAR’s application was […]

By Steven Lamb |January 8, 2009

4 min read

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Fidelity Investments has launched a new lineup of investment pools focused on high-net-worth clients. The new Fidelity Private Investment Program delivers institutional class management, focusing on risk management and capital preservation. “As their level of income and assets rises, high-net-worth investors are looking for investment managers that can provide unique investment opportunities, tax-advantaged solutions, low […]

By Staff |January 8, 2009

2 min read

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Golombek: What Lipson means for investors

In a split 4-3 decision, the Supreme Court of Canada found that a Toronto couple, the Lipsons, engaged in abusive tax planning that offended the General Anti-Avoidance Rule (GAAR). Background The Lipson case, heard at the Supreme Court last April, actually began in 1994, when Earl and Jordanna Lipson wanted to buy a home. Jordanna […]

January 8, 2009

4 min read

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Canadians have reached a 25-year low in optimism toward the Canadian economy, but they remain surprisingly upbeat about their personal financial situations, a new poll from POLLARA suggests. More than 9 out of 10 (91%) Canadians believe Canada is currently in a recession, up from 22% in January 2008. More than half (57%) believe the […]

By Staff |January 7, 2009

3 min read

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