Industry News

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IFB Summit: Compliance pays off

The future is filled with documentation, according to the Mutual Fund Dealers Association. In a presentation at the Independent Financial Brokers’ Spring Summit, Ken Woodard and Ian Strulovitch confirmed that the MFDA would continue to push the practice of documentation. The mention of high-profile cases, such as Portus and the infamous Ian Thow under the […]

By Romana King |May 27, 2008

5 min read

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By The Book: BCSC turfs Liechtenstein-based bank

(May 27, 2008) A British Columbia Securities Commission panel has ordered a European bank that held accounts at 11 B.C. investment dealers to permanently cease trading in any securities or exchange contracts in B.C. The BCSC believes that from November 2006 through August 2007, Hypo Alpe-Adria-Bank AG, based out of Liechtenstein, traded through its accounts […]

By Staff |May 27, 2008

2 min read

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(May 26, 2008) National Bank Financial has expanded its wealth management division with the purchase of Manitoba’s Bieber Securities Inc. Bieber is small, with only 37 employees in six offices, but it occupies a valuable niche, offering portfolio management services to high-net-worth individuals, small institutional clients, as well as corporate finance. National Bank will combine […]

By Staff |May 26, 2008

3 min read

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Demand forces managers to disclose SRI stance

The move by Mercer to include ESG factors in its ratings is a big step forward for SRI advocates, because the vast majority of large institutional investors consult companies like Mercer before making final investment decisions. Jordan Berger, a principal with Mercer and head of responsible investment for Canada, says the step is necessary because […]

By Mark Noble |May 26, 2008

3 min read

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On The Shelf: Man Investments launches notes

(May 23, 2008) Man Investments Canada has announced the launch of the CIBC Man AHL Diversified Deposit Notes, which provide exposure to Man’s AHL Diversified Programme. “AHL is one of the most established and longest-running managed futures programs in the world. In today’s volatile markets, the timing could not be better to introduce the Deposit […]

By Staff |May 23, 2008

1 min read

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(May 23, 2008) The federal government’s budgetary surplus for the past fiscal year slipped $1.2 billion, on a year-over-year basis, but don’t worry, the feds still have more than a little pocket change. The surplus for April 2007 to March 2008 is estimated at $11.7 billion, according to the Ministry of Finance’s latest Fiscal Monitor […]

By Staff |May 23, 2008

1 min read

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Expect strong TSX earnings growth in 2008: CIBC

As news goes from bad to worse in the economically challenged United States, things in Canada are only looking up. A new CIBC World Markets report says TSX earnings will rise by 21% this year, with a further advance of 12% in 2009. “Analysts have been lifting their expectations for earnings growth north of the […]

By Bryan Borzykowski |May 23, 2008

3 min read

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What to do with the tax refund?

BMO Financial has released some statistics that make a strong case for paying down the mortgage before doing anything else with the tax refund. According to John Turner, director of mortgage sales for BMO, a $1,400 investment now at the beginning of a 25-year mortgage could save a client as much as $38,000 in future […]

By Mark Noble |May 23, 2008

5 min read

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On The Shelf: Jovian closes Gartman notes

(May 22, 2008) Jovian Capital Corporation announced Thursday that it has successfully closed the CIBC Gartman Global Allocation Deposit Notes, Series 4. Adam Felesky, JovFunds’ CEO, says, “The strong demand across all series is a testament to the strong performance achieved to date.” The notes’ performance is linked to the Gartman Index IITM, a proprietary […]

By Staff |May 22, 2008

1 min read

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(May 22, 2008) If you thought things were turning around for the American economy, think again. A new TD Economics report says many of the tests to predict a recovery are so far coming up negative or inconclusive. Beata Caranci, director of economic forecasting for the bank, was surprised that the manufacturing Institute of Supply […]

By Staff |May 22, 2008

4 min read

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