Industry News

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BoC keeps people guessing on rate cuts

In one of the most anticipated decisions of the year, the Bank of Canada will announce on Tuesday whether or not it’s cutting lending rates. Right now, no one knows what the BoC will do. “There’s a 50.5% chance that there’s going to be a cut,” says Don Drummond, senior vice-president and chief economist at […]

By Bryan Borzykowski |December 3, 2007

4 min read

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Insurers take on more risk to offer investments

Insurers are finding a profit bonanza in wealth management, but a global study by State Street outlines they are also taking on more risk in their own investment portfolios to provide investment products. In a global phenomenon, insurers have enjoyed terrific success selling investment products, as they are in a unique position to offer guarantees […]

By Mark Noble |December 3, 2007

4 min read

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(November 29, 2007) A new study from the World Bank and PricewaterhouseCoopers says Canada ranks 99th out of 178 for total tax rate, and fares “moderately well in ease of paying taxes and administering taxes.” The report, Paying Taxes 2008, says there is room for improvement in Canada’s taxation system. “There is a win-win opportunity […]

By Staff |November 29, 2007

5 min read

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Don’t let your clients spend their Christmas bonuses all in one place

Don’t be surprised when your client tells you that he spent his Christmas bonus on a new 50-inch TV, especially if you haven’t told him how he could make better use of the extra cash. Christine Van Cauwenberghe, director of tax and estate planning at Investors Group, says many people will be tempted to spend […]

By Bryan Borzykowski |November 29, 2007

3 min read

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Investors must take responsibility: former SEC Chair

There’s a lot of blame to go around for the troubles caused by the U.S. sub-prime mortgage market, but among the biggest culprits are investors themselves, says the former chair of the U.S. Securities and Exchange Commission. At the Dialogue with the OSC held recently in Toronto, Arthur Levitt, the longest-serving chair in SEC history, […]

By Mark Noble |November 29, 2007

3 min read

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And the winner is…

The 2007 Canadian Investment Awards were handed out at a gala event held in Toronto Thursday night. There was no runaway winner this year, as the individual fund category awards were spread across 17 firms. But some firms fared better than others. “Every year highlights extraordinary products, initiatives and leaders within the Canadian financial services […]

By Steven Lamb |November 29, 2007

2 min read

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(November 28, 2007) Scotiabank’s Commodity Price Index, which measures price trends in 32 of Canada’s major exports, jumped by 4.4% month over month in October, to finish only 1.4% below May’s record high. Scotiabank says this year has turned out to be a favourable one for resource producers, with overall commodity prices up 17.1% year […]

By Staff |November 28, 2007

5 min read

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Great-West Lifeco unloads healthcare division

Great-West Lifeco has sold off its “underperforming” U.S. healthcare division so it can focus its stateside efforts on growing its financial services business. The Winnipeg-based insurance giant’s U.S. subsidiary, Great-West Life & Annuity Insurance Co., has agreed to offload Denver-based Great-West Healthcare to CIGNA Corp. for $2.25 billion US. Ray McFeetors, Great-West’s CEO, says the […]

By Renée Alexander |November 28, 2007

4 min read

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Canadians won’t see harsher penalties for white-collar criminals: OSC

Canada’s track record for jailing white-collar criminals is pretty abysmal, and it appears that it won’t get any better. “You see articles in the paper where people are calling out for white-collar criminals to be dragged away in handcuffs. That’s not going to happen here,” says Michael Watson, director, enforcement branch, at the Ontario Securities […]

By Bryan Borzykowski |November 28, 2007

3 min read

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(November 27, 2007) Boaz Manor, co-founder of Portus Alternative Investment Management, appeared in court today only to find out that the trial is delayed until January 21, 2008. Manor is facing numerous counts of fraud, money laundering and possession of property obtained by crime. Preliminary hearings, which were supposed to begin today, will now take […]

By Staff |November 27, 2007

4 min read

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