Industry News

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(February 23, 2007) The Investment Industry Association of Canada is repeating its call for a common securities regulator. Ian Russell, IIAC’s president and CEO said, in a speech delivered to Canada’s finance minister last week, that a single regulator would “yield immediate cost savings and efficiencies.” In his speech, Russell also said that a new […]

By Staff |February 23, 2007

2 min read

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M&A market surged through 2006

Canada’s mergers and acquisitions market had a banner year in 2006, with 22% more activity over the previous 12 months, according to Crosbie & Company’s Canadian M&A Activity — Fourth Quarter 2006 Report. The study says that in 2006, 1,968 deals were announced. That’s up from 1,613 transactions in 2005. “The conditions for M&A in […]

By Bryan Borzykowski |February 23, 2007

2 min read

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Demise of trusts overstated

The income trust sector is still down 9% from Oct. 31, the night investors shuddered as Ottawa announced its intention to tax trusts. But Ken Manget, a managing director at BMO Capital Markets, says it was only a matter of time before a correction hit. Most of the trusts that have been taken out of […]

By Mark Brown |February 23, 2007

2 min read

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(February 22, 2007) Statistics Canada reports that Canadian corporations earned record-high operating profits of $231.7 billion in 2006, led by solid growth in the wholesale, retail and construction industries. The financial services industry, primarily chartered banks, also turned in a healthy profit. StatsCan reports that, overall, operating profits increased 7.3% in 2006, down from double-digit […]

By Staff |February 22, 2007

3 min read

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Compliance is the easiest option: OSC chair

Regulators must take a more aggressive, proactive approach to dealing with criminal activity in the securities industry, according to the chair of the OSC. And he’s asking Bay Street for help. Speaking at the Canadian Institute’s Securities Superconference in Toronto, OSC chair David Wilson called on the industry to be vigilant in its compliance with […]

By Steven Lamb |February 22, 2007

2 min read

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SRO powers under scrutiny

The Investment Dealers Association of Canada will defend its right to impose sanctions on members after they have left the industry in a Saskatchewan courtroom on March 12. The IDA is appealing a Saskatchewan Financial Securities Commission panel decision involving Wade MacBain, Karl Neufeld and Fred Smith. The original case set out to resolve two […]

By Mark Brown |February 22, 2007

4 min read

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(February 21, 2007) Lower oil prices will reduce profits in Canada’s oil-extraction industry by almost 30%, according to the Conference Board’s Canadian Industrial Outlook report on the industry. Despite this substantial reduction in profits, the Conference Board of Canada said that oil industry profits will still remain high, just nowhere near the record levels they […]

By Staff |February 21, 2007

4 min read

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Quebec, B.C. serve up tax breaks

Taxpayers in Quebec and British Columbia were showered with tax breaks this week as both provinces presented their budgets. Of course, it will be up to Quebec taxpayers to determine if the tax savings get passed as Premier Jean Charest promptly dropped an election writ after tabling the budget. If passed, the Quebec budget will […]

By Mark Brown |February 21, 2007

2 min read

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Ethically speaking: Loose lips

(February 2007) We asked FCSI designees to respond to your ethical conundrums — everything from culling clients to specific fund recommendations and a host of suitability issues. In this month’s column hear what FCSI John Hogarth suggests for an advisor who is dealing with a not-so-forthcoming client. You wanted to know… Colleen is an investment […]

By Staff |February 20, 2007

4 min read

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By Staff |February 20, 2007

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