Industry News

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Briefly:

(January 29, 2007) Minister of Finance Jim Flaherty released draft legislation, explanatory notes and a backgrounder for several measures aimed at improving the application of the goods and services tax/harmonized sales tax to the financial services sector. The proposed new framework for the GST/HST input tax credit allocation for financial institutions is intended to reduce […]

By Staff |January 29, 2007

2 min read

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CI critical part of financial plan

While some clients already have critical illness insurance as part of their financial plans, many more don’t. The reasons abound. They don’t need it because they are already wealthy. They don’t believe they’ll qualify. Like some advisors, they wonder why there are no standardized medical definitions. Or, they simply can’t afford the monthly premiums. The […]

By Deanne Gage |January 29, 2007

4 min read

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(January 26, 2007) Performins Canada and PanFinancial Insurance Agencies announced Thursday that the board of directors of both companies have unanimously agreed to a purchase and sale agreement that will see PanFinancial Insurance Agencies’ MGA operations become part of the Performins Canada Group of Companies. Performins’ strategic plan is to complete the consolidation of 10 […]

By Staff |January 26, 2007

5 min read

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Bond market still lacks transparency: survey

While many institutional investors and advisors agree that transparency within the fixed-income market is improving, a lot of work still needs to be done, according to a survey conducted by GMarkets Inc. “People asked for broader coverage on the corporate bond markets,” says Robin Hanlon, president and CEO of GMarkets. “They want broader coverage, better […]

By Bryan Borzykowski |January 26, 2007

4 min read

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(January 25, 2007) RBC Financial Group has launched the RBC Global Titans Deposit Notes, Series 1. This is the first time RBC Asset Management will be the investment manager for the equity exposure of a principal protected note. RBC said these notes are designed for risk-averse retail investors that are seeking to diversify their portfolios. […]

By Staff |January 25, 2007

4 min read

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Risks are lower, Dodge says

With the U.S. economy apparently holding up against downward pressure on the housing and automotive sectors and financial markets showing the resolve to address global imbalances in a smooth manner, the Bank of Canada is predicting inflation will settle at just above 1% for the first half of 2007. Bank of Canada governor David Dodge […]

By Mark Brown |January 25, 2007

2 min read

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Regulator charges 24 Mount Real advisors

Quebec’s securities regulator is taking 24 advisors and company officials to court for their role in selling $160 million in unregistered promissory notes issued by the failed Mount Real group of companies. They face $4.2 million in fines, with each of the 619 charges carrying a fine of $1,000 to $15,000. Mount Real, a listed […]

By Scot Blythe |January 25, 2007

3 min read

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(January 24, 2007) A hearing panel of the IDA has imposed a $20,000 fine and a two-year suspension on Robert Faiello, who was formerly employed at the Richmond Hill office of RBC Dominion Securities. At a January 16 hearing, Faiello admitted that between May and November 2004, he engaged in business conduct or practice that […]

By Staff |January 24, 2007

5 min read

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Risk tolerance key to investment loans

Generally speaking, debt is a bad thing. Sure, there are “good” kinds of debt, such as mortgages, but no matter how you slice it, debt is a liability, and evidence suggests that Canadians are carrying more than ever. A StatsCan study from last month found that from 1999 to 2005, the accumulated personal debt of […]

By Mark Noble |January 24, 2007

4 min read

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(January 23, 2007) The Canadian Association of Income Trust Investors charges that the federal Conservative government has created an unfair double-standard for Canadian retirees, where public sector employees are allowed to benefit from tax advantages denied to the majority of Canadians. The group said the Conservatives have implemented a subtle yet profound change to their […]

By Staff |January 23, 2007

5 min read

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