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By Staff |September 16, 2008
3 min read
With the comment period now closed for the MFDA’s proposed amendments to its client communication and client reporting rules, organizations are starting to speak out about the changes, including Advocis, which is especially upset with the SRO. The group, which represents Canada’s advisors, says the MFDA failed to talk to advisors before publishing these proposed […]
By Bryan Borzykowski |September 16, 2008
As currently volatile markets continue to take down financial giants, cautious Canadians have responded by continuing to favour money market funds, according to preliminary numbers from the Investment Funds Institute of Canada. This “response to heightened volatility in capital markets” resulted in $72.9 billion in money market fund assets at the end of August, up […]
By Romana King |September 15, 2008
(September 12, 2008) Bennett Jones LLP, one of Canada’s leading business law firms, has welcomed David Dodge to the firm as senior advisor. Dodge was the former Governor of the Bank of Canada from February 1, 2001, to January 31, 2008. “Mr. Dodge adds unquestionable depth to the team of business advisory experts we have […]
By Staff |September 12, 2008
2 min read
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 |September 12, 2008
6 min read
(September 11, 2008) Canada’s dwindling savings rate will get a boost with the introduction of the Tax-Free Savings Account (TFSA) in January 2009, a report from CIBC World Markets confidently proclaimed today. The new accounts could provide the impetus for Canadians to save up to $115 billion by 2013, with a cumulative tax saving of […]
By Staff |September 11, 2008
(September 10, 2008) While the financial services industry prepares for the advent of the Tax-Free Savings Account (TFSA) in January, the real challenge may be to explain the account to the general population. According to a survey by ING Direct, three-quarters of Canadians either don’t know what the TFSA is, or have only limited knowledge […]
By Staff |September 10, 2008
(September 10, 2008) The proposal by the Investment Industry Regulatory Organization of Canada (IIROC) to define and regulate financial planning continues to receive criticism, this time from the Independent Financial Brokers of Canada (IFB). The organization says that while they “feel it’s important to distinguish between those who provide financial planning services in the context […]
One of Canada’s most notorious bulls is giving ground in the face of continued market uncertainty. Jeff Rubin, chief strategist for CIBC World Markets, has cut his outlook for the S&P/TSX Composite Index by more than 1,000 points. Until today, Rubin had a 2008 target of 14,300 for the index, but has now scaled that […]
By Steven Lamb |September 10, 2008
Industrial Alliance has expanded its asset management operations in English Canada with the purchase of Sarbit Asset Management Inc. (SAMI). The Quebec-based insurer will tender its offer for all outstanding shares of Sarbit, and has already entered into lock-up agreements with shareholders representing 75% of the company’s shares. Sarbit Asset Management was founded in 2005 […]
By Steven Lamb |September 9, 2008
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