Industry News

Decorative pattern

OSC beefs up enforcement

Compliance may not be a lot of fun, but it beats meeting with a regulator’s enforcement team — or worse, finding your name in the local newspaper. “Think of compliance as ‘fire preventions,’ which is certainly preferable to calling for help once the building is in flames,” OSC chair David Wilson said at the annual […]

By Steven Lamb |November 27, 2007

2 min read

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(November 26, 2007) Contrary to popular opinion, the sky is not falling, according to America’s biggest bank. But while an economic collapse is not imminent, the global economy will slow through 2008. “Our base case forecast reflects the judgment that the current stresses from the U.S. housing sector, high oil prices, a weak U.S. dollar […]

By Staff |November 26, 2007

3 min read

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Dundee not for sale, bidding process begins

It appears rumours of an impending bidding war for DundeeWealth are true. The wealth management firm issued a release on Monday morning confirming it has received “unsolicited” bids and is forming a committee to assess these bids. “Notwithstanding that its controlling shareholder has not expressed an intention to sell,” the statement said, “a special committee […]

By Mark Noble |November 26, 2007

3 min read

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Offering health support services for clients

More advisors are experiencing first-hand how a sudden illness or long-term health problems can ruin a client’s best-laid financial plans. BMO Financial Group is the latest to address this issue by introducing a third-party health care consultation service for clients of its advisors. One of the major challenges the advisor community faces is the looming […]

By Mark Noble |November 23, 2007

5 min read

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AGF replaces Canadian value manager

AGF Funds has announced the appointment of AGF International Advisors Company Limited (AGFIA) as the portfolio advisor of its Canadian value funds. The Dublin-based AGFIA, led by popular value manager John Arnold, will take over as portfolio advisor for the AGF Canadian Value Fund and the AGF Canadian Balanced Value Fund (previously called the AGF […]

By Mark Noble |November 23, 2007

3 min read

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The Portus Files

Once one of the fastest-growing fund companies in Canada, Portus has been a three-year nightmare for advisors and 26,000 investors. When it was ordered to stop selling what were marketed as principal-protected notes whose upside would depend on a portfolio of hedge funds, Portus had collected $790 million in client money. That was in February […]

By Staff |November 22, 2007

3 min read

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(November 22, 2007) The IDA has issued a permanent ban against Ivan Djordjevic for his actions while registered with the Toronto office of Desjardins Securities Inc. Djordjevic was found to have forged the signature of a client, referred to as AG in the IDA report, on an unlimited guarantee for the account of another client, […]

By Staff |November 22, 2007

2 min read

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Canadian growth far outpaces U.S: StatsCan

It’s not easy living in your older sibling’s shadow for so many years, so it’s welcoming for Canada to find out that its economy is growing far faster than that of the United States. A new Statistics Canada report released on Thursday reveals that between 2000 and 2006, Canada’s real income per capita grew 15.5%, […]

By Bryan Borzykowski |November 22, 2007

3 min read

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(November 23, 2007) The Bay Street rumour mill has kicked into high gear, as speculation swirled Thursday that DundeeWealth could soon receive an offer of $23.00 a share from Power Corporation. If true, that offer would be almost three dollars higher per share than a takeover offer by CI Financial Income in September. So far, […]

By Staff |November 22, 2007

3 min read

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(November 21, 2007) A competency profile for financial planners, based on a framework first conceived and developed in Canada, was adopted as an international standard at a recent meeting of the Financial Planning Standards Board (FPSB), which owns the CFP brand outside the U.S. The profile was first developed in Canada over a two-year period […]

By Staff |November 21, 2007

4 min read

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