Industry News

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(December 22, 2008) Consumers are continuing to watch their wallets. The Index of Consumer Confidence fell for the third consecutive month to 67.7, according to the Conference Board of Canada. This is down 3.3 points from last month. “Only during the recession of 1981–82 have we seen lower levels of confidence,” said Glen Hodgson, senior […]

By Staff |December 22, 2008

2 min read

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Royal Bank of Canada has expanded its international footprint, announcing the purchase of Mourant Private Wealth, based on the island of Jersey in the English Channel. Mourant has 47 employees, with operations in Dubai and the Cayman Islands. The deal is expected to close in early 2009, pending regulatory approval. RBC already has a substantial […]

By Staff |December 19, 2008

2 min read

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Week in review: December 15-19, 2008

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 |December 19, 2008

8 min read

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Seg fund selection gets much needed coverage

Morningstar Canada’s PALTrak has been an indispensable tool for advisors looking for current information and analysis on the mutual fund industry. With its inclusion of a seg fund module for PALTrak, the implications for how advisors industry-wide choose these products could be significant. One of the great disconnects in the investment industry is comparing a […]

By Mark Noble |December 19, 2008

4 min read

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The Canadian Securities Administrators (CSA) has published for comment a set of proposals reforming the rules governing insider transaction reporting. The proposed National Instrument 55-104 Insider Reporting Requirements and Exemptions would reduce the number of insiders who would be required to report transactions. Only a core group with the greatest access to material undisclosed information […]

By Staff |December 18, 2008

3 min read

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Hedge funds urged to accept oversight

The global hedge fund industry had already been working to increase transparency and oversight, but now Bernard Madoff’s alleged $50 billion fraud has some organizations, like the CFA Institute, urging the industry to adopt a uniform set of ethical standards. In the absence of one single global hedge fund standards body, the CFA Institute has […]

By Mark Noble |December 18, 2008

4 min read

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The Bank of Montreal has announced itself as the first bank to provide access to the new Registered Disability Savings Plan (RDSP), effective December 22, 2008. The RDSP was introduced in the last federal budget. “In our view, the RDSP is a terrific savings vehicle that enhances the financial security of people with disabilities,” said […]

By Staff |December 17, 2008

2 min read

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TFSA no threat to RRSP habits: Survey

The January launch of the Tax-Free Savings Account will not materially impact the amount of cash flowing into Registered Retirement Savings Plans, according to a survey conducted for RBC. Just 8% of respondents to the 19th annual RBC RRSP poll said they would reduce their RRSP contributions in order to fund the new TFSA. Among […]

By Steven Lamb |December 17, 2008

2 min read

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Low rates make mortgage shopping appealing

For the vast majority of clients, their mortgage is likely the single most important financial burden they carry. Given the current economic uncertainty, clients likely don’t want to think about renewing or taking on a mortgage right now, but those familiar with the mortgage market say it’s an unprecedented opportunity, to take advantage of historically […]

By Mark Noble |December 17, 2008

4 min read

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The U.S. Federal Open Market Committee has cut its key lending rate today, slashing the target range for federal funds to a band of zero to 0.25%. The discount rate has reduced by 75 basis points to 0.50%. “Since the Committee’s last meeting, labor market conditions have deteriorated, and the available data indicate that consumer […]

By Staff |December 16, 2008

3 min read

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