Industry News

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(December 12, 2006) The British Columbia Securities Commission has levied fines totalling $65,000 against two Vancouver men who admitted to spreading false information about a publicly traded company. Firoz Jinnah and Ingo W. Mueller have agreed to pay the BCSC $25,000 and $40,000, respectively. The two men cannot be directors or officers of any company […]

By Staff |December 12, 2006

3 min read

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Inflation data deeply flawed: economist

In financial planning, there are many assumptions advisors must make simply because it is impossible to predict the future with any kind of precision, and in general it pays to err on the side of gloom. Portfolio returns of 8% may be used as a conservative estimate by some, for example, even if they actually […]

By Steven Lamb |December 12, 2006

4 min read

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(December 11, 2006) Microcredit has been attracting a great deal of media attention of late, with the Nobel Peace Prize going to Dr. Muhammad Yunus, who pioneered the concept with Grameen Bank. The idea is quite simple: in developing countries, a small loan allows the poor to start their own businesses, while exposing the lender […]

By Staff |December 11, 2006

3 min read

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Ontario ends mandatory retirement

As every advisor knows, retirement planning is highly dependent on the client — some dream of shaking off the shackles of work as early as possible, while others enjoy the sense of purpose their job gives them and plan to stay on as long as they are competent. There is one common thread, however: nobody […]

By Al Emid |December 11, 2006

4 min read

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Dodge repeats call for single regulator

Canada will be “stuck in the middle of the 20th century,” unless the country moves forward on a single, uniform framework for securities regulation, says Bank of Canada governor David Dodge. “We need to have a harmonized set of rules and single enforcement authority,” said Dodge during a question and answer session following a speech […]

By Bryan Borzykowski |December 11, 2006

3 min read

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(December 8, 2006) The Senate Banking Committee has expressed concern over RCMP testimony on Thursday that the national police force lacked the resources to control the money laundering activities or organized crime in Canada. The RCMP said there are currently almost 800 different criminal organizations in Canada, as well as several groups that it deems […]

By Staff |December 8, 2006

3 min read

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FPSC unveils new competency standards for CFPs

In an effort to further define the responsibilities of financial professionals, the Financial Planners Standards Council has released a new Professional Competency Profile, which outlines the gamut of core capabilities required of all certified financial planners. Available on the FPSC’s website (www.cfp-ca.org), the 47-page profile, which includes an overall competency matrix, is designed for a […]

By Heidi Staseson |December 8, 2006

3 min read

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(December 7, 2006) Canadians have been getting richer over the past few years, according to the latest data from StatsCan, but they are also taking on far more debt than in the past. The survey of financial security covered the period from 1999 to 2005, finding that median net worth rose 23.2% over that period, […]

By Staff |December 7, 2006

3 min read

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Advisor incorporation rule delayed…again

Remember your school days, when you’d ask for an extension on a project because, gosh darnit, you just had too much on the go? If you were lucky enough to get an extension, you probably wouldn’t push your luck and ask for another as the new deadline approached. Fast-forward to 2001. The newly minted MFDA […]

By Steven Lamb |December 7, 2006

2 min read

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Income Investing Roundtable

(December 2006) The overarching influences on the entire income sector are demographics and interest rates.With the aging of baby boomers, Canada is faced with a burgeoning retirement community. While these boomers value income investing as a necessary part of post-retirement income, another phenomenon is taking place: younger investors are jumping on the income investing bandwagon. […]

By Staff |December 6, 2006

1 min read

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