Industry News

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(May 1, 2007) The British Columbia Securities Commission has found a B.C. trio guilty of operating a phone room that conducted cold calls using high-pressure sales tactics to sell securities. Not only was the operation not registered with the BCSC but one of the key individuals in the scheme was already under a ten-year ban […]

By Staff |May 1, 2007

4 min read

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Retirement income needs revised

So you think your clients have enough money saved for retirement? Well, think again. According to Fidelity Investments Canada, retirees need to save enough to earn between 75% and 85% of their pre-retirement income in order to live comfortably. That’s up to 21% more than the 70% that some advisors have pegged as the earnings […]

By Bryan Borzykowski |May 1, 2007

3 min read

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(April 30, 2007) RBC announced Monday that it has acquired Seasongood & Mayer, Ohio’s top public finance firm and underwriter of municipal debt. RBC Capital Markets says the proposed merger bolsters its position in the U.S. municipal investment banking market while enhancing its overall presence in Ohio. Based on 2006 rankings, RBC says the combined […]

By Staff |April 30, 2007

4 min read

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Active managers beat the benchmark

The ongoing debate over active versus passive returned on Monday with Russell Investments Canada saying that active Canadian equity managers have had a great Q1. In the Russell Investments Canada 1st Quarter 2007 Active Management report, 65% of large cap equity managers fared better than the S&P/TSX Composite Index, the highest number in three years. […]

By Bryan Borzykowski |April 30, 2007

3 min read

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New company pairs advisors, mortgage brokers

The Smith Manoeuvre is now a corporate enterprise. A group of financial industry veterans have teamed up with founder Fraser Smith to create Smith Manoeuvre Financial Corporation. The company will offer seminars and accreditation to mortgage brokers and financial advisors, who will then work together to implement the Smith Manoeuvre for clients. The Smith Manoeuvre […]

By Mark Noble |April 30, 2007

2 min read

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(April 27, 2007) A hearing panel of the British Columbia Securities Commission has found that a White Rock, B.C., man ran two fraudulent investment schemes that cost investors nearly $15 million in losses. Between January 2000 and November 2004, Brian David Anderson raised approximately $14.7 million from 352 investors, 57 of whom were residents of […]

By Staff |April 27, 2007

4 min read

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Canadian firms risk missing out on Hong Kong

China’s rampant economic expansion is hardly a new story, and Canadian investors have been increasing their allocation in the awakening giant ever since it started to stir. But the Canadian financial services sector could be missing out on a real opportunity for expansion, according to one government official from Hong Kong. “Don’t miss the boat […]

By Steven Lamb |April 27, 2007

3 min read

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Bad gas: BMO gamble blows up

One of Canada’s big banks has egg on its face today, admitting that it will have to write-down trading losses of $350 million to $450 million, after its Houston-based proprietary trading desk grossly miscalculated the natural gas commodity market. BMO Financial Group estimates that the losses work out to around 45 to 55 cents a […]

By Mark Noble |April 27, 2007

2 min read

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(April 26, 2007) David Dodge will not seek a second term as governor of the Bank of Canada. Dodge, who has headed up the bank since February 2001, will continue in the role until January 31, 2008. Before his term as the head of the BoC, Dodge held roles as the deputy minister of finance […]

By Staff |April 26, 2007

4 min read

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Inflation potential wrench in BoC plans

The Canadian economy surprised Bank of Canada officials this month. Although the economy remains in line with most of the Bank’s January predictions, the April Monetary Policy Report says inflation — which is slightly outpacing the Bank’s target of 2% — is the one glaring exception. The unexpected increase is largely due to an unforeseen […]

By Mark Noble |April 26, 2007

2 min read

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