Industry News

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Advocis fund nearing $3 million

A forgotten cabinet minister, the attractiveness of a tax deduction and the prospect of feel-good treatment have combined to boost the Advocis Century Initiative to nearly $3 million in pledges in its quest to raise $5 million in voluntary contributions from members. The Century Initiative (CI) begins 2009 with over $2,919,679.05 in pledges, and $1,640,130.48 […]

By Al Emid |December 31, 2008

3 min read

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Mavrix Fund Management has announced it will file an application with the Canadian Securities Administrators, seeking a 90-day extension for a required reduction in private investments held in the Mavrix Small Companies Fund. The original deadline was December 29, 2008. Regulations require that the fund hold no more than 15% of its assets in private […]

By Staff |December 30, 2008

2 min read

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Some see value in regulating annuities as securities

It remains to be seen whether Canada will follow the Securities and Exchange Commission’s lead by adopting rules to govern indexed annuities as securities products, but the idea of stricter rules for the instruments has piqued some interest. “Regulation of variable annuities by securities regulators and the requirement of a securities licence is something that […]

By Philip Porado |December 30, 2008

2 min read

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Despite the travails of working in the financial services sector in 2008, two advisory firms have been named to the top 10 of Best Employers in Canada, as ranked by human resources consulting firm Hewitt Associates and Report on Business magazine. Edward Jones was listed as the fourth-best place to work, rising one spot over […]

By Staff |December 29, 2008

3 min read

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SEC rule labels indexed annuities as securities

In a shot that will no doubt be heard beyond the U.S. borders, the Securities and Exchange Commission voted earlier this month to begin regulating indexed annuities as securities products. Indexed annuities promise purchasers a fixed payout, but that sum can increase based on the performance of the underlying securities portfolio. The December 17 Commission […]

By Philip Porado |December 29, 2008

2 min read

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Mutual funds take a pause

Like other investments, mutual funds have been battered by the financial crisis. And, given the depth of the current chill and the level of consumer debt, it may be a while before consumers allocate existing savings to mutual funds, says a new report. In its annual review of the fund industry, Investor Economics Insight points […]

By Scot Blythe |December 29, 2008

2 min read

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(December 23, 2008) Well-known industry veteran Don Coxe will retire at the end of the year. Coxe spent four decades in institutional investing and money management, most recently as global portfolio strategist for BMO Capital Markets. But Coxe plans to work during his retirement. Next year, he is starting his own independent advisory firm, Coxe […]

By Staff |December 23, 2008

3 min read

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Stakes high for SEC’s next chair

The arrest of Bernard Madoff serves as a reminder that fraud can lurk in the most respectable of packages. Many of the securities industry illuminati commenting on the case, in fact, refer to Madoff as “Bernie.” There was genuine surprise that the former Nasdaq chair could have been up to anything. Not Bernie. No way. […]

By Philip Porado |December 23, 2008

3 min read

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ETF providers take issue with market open pricing

The exchange-traded fund industry is concerned about the Toronto Stock Exchange’s Market On Open system, which can have ETF prices open at prices substantially higher than their underlying net asset value (NAV). Normally, the net asset value of ETFs closely tracks the underlying value of their constituent securities. The difference in price is referred to […]

By Mark Noble |December 23, 2008

4 min read

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Tom Bradley: An old hand

Tom Bradley left as CEO of Phillips, Hager & North three years ago, but rather than jumping into an early retirement, he opted to start Steadyhand Investment Funds – a small, low-fee shop in Vancouver. Building a company from scratch, however, is no easy task even for this fi- nancial industry veteran. Advisor’s Edge Report […]

By Bryan Borzykowski |December 22, 2008

11 min read

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