Industry News

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Industry

Point of sale rules too simplistic: Expert

Announced last year, one of the lynchpins of NI 81-406’s 216-page proposal is the implementation of a fund-facts document that must be shown to a client before the sale of not only mutual funds, but segregated funds as well. The two-page fund-facts document is written at a grade five level and is supposed to include […]

By Mark Noble |June 9, 2008

3 min read

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Industry

Briefly:

(June 6, 2008) The conversion experience in other countries to International Financial Reporting Standards isn’t as simple as swapping one set of accounting rules for another, says Ernst & Young. Tax in particular requires special attention, since almost every IFRS-related change will have a tax accounting or reporting implication. “We absolutely need tax at the […]

By Staff |June 6, 2008

3 min read

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Industry

Judge approves deal, satisfied with fraud amendment

Justice Campbell had been reluctant to approve the deal until third-party ABCP sponsors and other dealers subject to the deal were willing to relinquish some of the protections that would have made them not only immune to legal action but cases of fraud as well. Justice Campbell believed the fraud protection was too all-encompassing and […]

By Mark Noble |June 6, 2008

2 min read

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Industry

Canadian reforms pale next to U.S.

Those struggling to keep on top of Canada’s various regulatory reform initiatives can take heart: at least they are not facing the American experience. While Canadian regulators work out the details of registration reform and advisor disclosure, the U.S. is taking things several steps further. The Securities and Exchange Commission has proposed a “plain English” […]

By Steven Lamb |June 6, 2008

4 min read