Industry News

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(October 17, 2007) According to a new poll, Canadians’ interest in investing is waning. The 35th quarterly Manulife Investor Sentiment Index dropped 11 points to +20, after staying near its highest levels since 2001 for the past three quarters. Manulife says concerns over U.S. sub-prime mortgages and softer equity markets contributed to the decline in […]

By Staff |October 17, 2007

4 min read

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BCSC panel finds Ian Thow guilty of fraud

High-living former Berkshire advisor Ian Thow defrauded his clients of millions of dollars, concluded a British Columbia Securities Commission hearing panel. Between January 2003 and May 2005, Thow, working as a mutual fund salesperson for Berkshire in Victoria, took money his clients trusted him to invest and instead spent it on his own lavish lifestyle, […]

By Mark Noble |October 17, 2007

2 min read

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Investors paying cost of regulatory jumble: Panel

The adoption of a single securities regulator would not only make life easier for the industry but it would spare Canadian investors from bearing the brunt of excess costs related to regulatory balkanization, according to a panel of experts. “The current system is not good enough and we deserve better,” said Len Racioppo, president and […]

By Staff |October 17, 2007

4 min read

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(October 16, 2007) The Montreal Accord, signed in August to prop up the asset-backed commercial paper market, has been extended to December 14. Under the agreement, key holders of the affected instruments will not demand access to their capital. With this extension, the stakeholders involved in the accord can continue their efforts to restructure their […]

By Staff |October 16, 2007

3 min read

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U.S. dollar assets down, but far from out

Canadian investors feeling the effects of a sliding U.S. dollar in their global portfolios should hold tight, according to a new study from Standard & Poor’s. The U.S. dollar is still the world’s most important currency and will remain so for the foreseeable future. Purging a portfolio of U.S. dollars is unwise. Although the U.S. […]

By Mark Noble |October 16, 2007

3 min read

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(October 15, 2007) The loonie will trade at a 50-year high of a $1.05 US by the end of 2008, according to the latest CIBC World Markets economic forecast. But even at this level, it will not cool the scorching Canadian economy, which will outperform the U.S. economy in 2008. “The loonie’s flight is far […]

By Staff |October 15, 2007

5 min read

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Mutual fund sales improve from August

The Canadian mutual fund industry was back in black in September, turning sales around from a miserable August, which saw net redemptions totaling $1.5 billion. According to the Investment Fund Institute of Canada’s monthly mutual fund update, net sales in September were at a healthy $994 million in total sales over all, with $666 million […]

By Bryan Borzykowski |October 15, 2007

3 min read

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Altamira operations re-branded National Bank

Altamira Investments Services’s distribution network is being converted into National Bank Securities as a way for the nation’s sixth largest bank to expand its brand recognition in English Canada. When Altamira was acquired by National Bank of Canada in 2002, it was already a well-known fund company with a particularly strong presence in Ontario. National […]

By Mark Noble |October 15, 2007

2 min read

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(October 12, 2007) Federal Liberal leader Stephane Dion said Friday that he will cut the corporate tax rate if he’s elected. Dion, speaking to the Economic Club of Toronto, didn’t say how much he’d cut the tax but did say it would be deeper than the 0.5% promised by the Conservative government. In explaining why […]

By Staff |October 12, 2007

5 min read

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Provincial regulator eases on seg fund proposal

The Saskatchewan Insurance Council has revised its controversial segregated fund marketing guidelines. The new document, to be released on October 16, is expected to take a much softer line. In June, the Council released a document entitled Proposed Segregated Fund Marketing Guidelines, which presented guidelines to be used during a disciplinary hearing to determine if […]

By Mark Noble |October 12, 2007

4 min read

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