Industry News

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Benchmarks beat managers in 2007: SPIVA

The vast majority of Canadian mutual funds continue to underperform their benchmark, according to the latest results of Standard & Poor’s Indices Versus Active (SPIVA) Funds Scorecard. In 2007, only 24.3% of Canadian equity funds beat the S&P/TSX Composite Index, while 37.0% of Canadian dividend and income funds beat the S&P/TSX Canadian Dividend Aristocrats Index. […]

By Mark Noble |February 29, 2008

3 min read

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Audit firms rapped for faults

For the past few years, auditing firms have been hard at work conforming to America’s Sarbanes-Oxley Act and other new regulations, but that doesn’t mean they’re problem free yet. According to a new report released by the Canadian Public Accountability Board, a number of auditing firms have been issued notices for failing to meet CPAB […]

By Bryan Borzykowski |February 29, 2008

2 min read

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CSA scraps single disclosure document

Fresh from their return to the drawing board, the Canadian Securities Administrators are seeking comment on a revised version of proposed National Instrument 31-103, Registration Requirements. The proposed rule requires the registration of investment fund managers and sets out proficiency requirements for representatives. Following its initial release for comment in February 2007, the CSA received […]

By Steven Lamb |February 29, 2008

3 min read

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(February 28, 2008) It’s getting hard to distinguish financial trading platforms from works of science fiction. The TSX has announced the launch of a new high-velocity alternative trade book system, which the company has dubbed — at least internally — TSX Photon. It will operate alongside the central limit order book, named TSX Quantum. “The […]

By Staff |February 28, 2008

2 min read

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Half of Canadians won’t contribute to RRSP this year: Survey

BMO suggests that Canadians try to correct their savings habits by utilizing some other financial strategies such as setting up a continuous savings plan (CSP) or maybe taking out an RRSP loan. It is a lot easier to come up with a biweekly or monthly contribution to a CSP than one lump sum — especially […]

By Mark Noble |February 28, 2008

3 min read

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Advisors still waiting on RDSP

The new tax-free savings account might be all the rage, but advisors are still awaiting news on an earlier budget initiative — the registered disability savings program. In 2007 the Conservative government announced that it would implement the RDSP — a program for disabled Canadians that is similar to the registered education savings plan — […]

By Bryan Borzykowski |February 28, 2008

5 min read

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(February 27, 2008) The Ontario Securities Commission has identified some deficient disclosure practices with environmental reporting, as detailed in a report it released Wednesday. “Over the past several years, we have increasingly focused on the adequacy of disclosure of environmental matters in continuous disclosure documents,” noted corporate finance director Margo Paul. “It is important that […]

By Staff |February 27, 2008

2 min read

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By The Book: Alberta firm fined $92,000 by the BCSC

(February 27, 2008) Alberta firm CWM Investment Counsel will fork over $92,575 to the British Columbia Securities Commission for providing investment advice without being properly registered. From July 1991 to January 20, 2008, CWM gave investment advice to up to 20 clients, all of whom were clients of the firm prior to moving to British […]

By Staff |February 27, 2008

1 min read

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Budget 2008 Commentary: Advice Gets Interesting

Registered or non-registered? That was the calculation. Budgets have a funny way of upsetting calculations, however. Twas ever thus, one might argue, with calculations sometimes changing slowly and sometimes quickly. Remember the gradual raising of the foreign content limit for registered plans? Then one day it was gone. Remember the reduction in the capital gains […]

By Scot Blythe |February 27, 2008

3 min read

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Budget 2008: How should advisors handle the TFSA?

As people digest the news about the new tax-free savings account, advisors are already coming up with ways to incorporate this tax-savings vehicle into their clients’ financial plans. “We’re already talking to them,” says Rick Wood, an advisor at TD Waterhouse Private Client Services in Toronto. “We’re looking at opportunities that we have for clients […]

By Bryan Borzykowski |February 27, 2008

5 min read

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