Industry News

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CI Financial to convert to a corporation

CI Financial has announced that it will convert back to a corporate structure, ahead of the January 1, 2011, imposition of a new tax regime that will eliminate the advantages of the income trust structure. “The unprecedented situation in today’s markets has created attractive opportunities for acquisitions in the asset management business,” said CEO William […]

By Steven Lamb |October 15, 2008

1 min read

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(October 15, 2008) The turmoil in the United States is limiting Canadian economic growth to 0.8% in 2008, but Canada will avoid a recession, according to a report by the Conference Board of Canada. “To understand Canada’s outlook, we need to separate the extraordinary current financial turmoil from the impact on the real economy,” says […]

By Staff |October 15, 2008

4 min read

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Manulife expects $250M charge

Manulife Financial expects to take a charge of about $250 million in the third quarter due to credit losses. That includes approximately $50 million due to reserve strengthening as a result of credit downgrades. Despite these charges, the insurance company says asset quality remains very high. “Due to generalized spread widening, the gross unrealized losses […]

By Craig Sebastiano |October 14, 2008

1 min read

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Proposed IIROC rule too lax: FPSC

The Investment Industry Regulatory Organization of Canada’s proposed rule governing how its member firms supervise financial planning activities has drawn fire from critics, but even among those who support the measure, there are those who feel it could have been better written. The Financial Planners Standards Council (FPSC) of Canada welcomes the proposed rule, in […]

By Staff |October 10, 2008

5 min read

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(October 10, 2008) Statistics Canada says the labour market is still growing but at a slower pace compared to last year. Following a decline in July and a small gain in August, employers added 107,000 workers in September. It was the largest one-month increase in at least three decades. “Overall, September’s employment report is good […]

By Staff |October 10, 2008

2 min read

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The CRTC: Your new regulator

If you think the CRTC’s do-notcall legislation won’t affect advisors, you could be in for a surprise when September 30 arrives. Calls to existing clients are exempt from the legislation if you’ve been in contact with these clients within 18 months, but calls to prospects and referrals are no longer fair game for your cold […]

By Deanne Gage |October 10, 2008

6 min read

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Canadian mortgage market fundamentals remain strong

The federal government’s decision to purchase $25 billion of mortgages from the Canadian banks is being viewed as a precautionary, rather than necessary move, to put liquidity in the mortgage markets. Experts maintain, while the housing market is slowing down, it doesn’t resemble anything like the U.S. crisis. The federal Department of Finance emphasized that […]

By Mark Noble |October 10, 2008

1 min read

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Investors look beyond BRIC

With a lower level of correlation to the global credit crisis, developing markets are attracting investors looking for extra alpha beyond the trendy markets of Brazil, Russia, India and China (BRIC). At the recent World Alternative Investment Summit Canada, three experts shared their views on the risks and opportunities in the alternative developing markets. As […]

By Mark Noble |October 9, 2008

6 min read

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By The Book:

(September 16, 2008) The Investment Industry Regulatory Organization of Canada (IIROC) has convened a hearing panel to meet on October 28 to determine the penalty for Paul Patrick Futher. Futher has admitted that between 2002 and 2006, he conducted discretionary trades in a client’s account without the client’s knowledge, nor was the account approved by […]

By Staff |October 9, 2008

1 min read

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(October 9, 2008) The current sell-off on the TSX will likely see the index falling to 9,500 before the end of the year, but the fundamentals of the global economy suggest that this is a gross overreaction, according to a report from CIBC World Markets. The global economy should turn in a growth rate of […]

By Staff |October 9, 2008

1 min read

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