Industry News

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Interest rate hike no cause for concern

In probably the least surprising move of the year, the Bank of Canada announced Tuesday that it is raising interest rates by 25 basis points to 4.5%. The move comes as a result of a stronger than expected economy and a soaring Canadian dollar. “The Bank judges that the economy is now operating further above […]

By Bryan Borzykowski |July 10, 2007

3 min read

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(July 9, 2007) The Investment Dealers Association has issued a fine of $80,000 against investment dealer Canaccord Capital, over failure to supervise. The IDA announced recently that Canaccord admitted that it failed to properly supervise a pro account between November 2001 and 2002, and it engaged in business conduct that was detrimental to the public […]

By Staff |July 9, 2007

3 min read

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Nearly 1,000 sit June CFP exam

The number of Certified Financial Planners in Canada is set to rise by almost 400, following the June sitting of the CFP exam, according to the Financial Planners Standards Council. There were 985 people writing the exam on June 9, with 397 passing. The pass rate for those writing the exam for the first time […]

By Steven Lamb |July 9, 2007

1 min read

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Banks increase spending to combat money laundering

Money laundering might have been a product of 1930’s prohibition era, but present-day criminals are using increasingly sophisticated techniques to hide ill-gotten gains. Last year the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) reported that there were about $5 billion worth of money laundering transactions — almost double what it found in 2004–2005. […]

By Bryan Borzykowski |July 9, 2007

3 min read

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(July 6, 2007) After a flurry of private equity takeovers in recent months, retail investors will finally have the chance to access leading Canadian private equity funds, starting Friday. Kensington Capital Partners, one of the country’s top independent private equity fund investors, announced commitments to three Canadian private equity funds led by top Canadian fund […]

By Staff |July 6, 2007

3 min read

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Are sub-prime troubles headed for Canada?

A study released Wednesday by Britain’s Financial Services authority shows that the sub-prime lending problems that have plagued the U.S. economy are not isolated to America. Britain has uncovered its own set of sub-prime issues, raising questions about whether Canada may be heading down a similar path as well. The FSA study uncovered poor risk […]

By Mark Noble |July 6, 2007

4 min read

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Rate hike certain, economists say

An interest rate hike is all but certain when the Bank of Canada convenes on Tuesday, following a StatsCan report that showed strong job growth in June. The month saw a net gain of 34,800 jobs, with 62,600 new full-time positions offsetting losses in the part-time labour market. There had been some hope among market-watchers […]

By Steven Lamb |July 6, 2007

2 min read

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Fund sales slow in June’s poor market

Canadian investors eased back on their mutual fund purchases in June, with net new sales ringing in at between $1.95 billion and $2.45 billion to work, according to preliminary data from the Investment Funds Institute of Canada. “The recent slowdown in the markets brought mutual fund assets down slightly in June,” said Pat Dunwoody, vice-president, […]

By Steven Lamb |July 5, 2007

2 min read

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(July 5, 2007) On Thursday the IDA announced that it found Edmonton’s Moin Mirza guilty of failing to cooperate with an investigation, while in another case it fined Bruce Calvin Deck $138,212 for various offences. In Mirza’s case, the IDA needed to talk to the advisor but was unable to get a hold of him […]

By Staff |July 5, 2007

4 min read

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Trust tax topples Canadian IPO market

The number of Canadian initial public offerings has been decimated by the devaluation of income trusts, according to a PricewaterhouseCoopers market survey. There were just 37 IPOs on the TSX and TSX Venture exchanges in the first six months of 2007, with a total valuation of $855 million. This is down from the 57 new […]

By Mark Noble |July 5, 2007

3 min read

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