Industry News

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IDA appeals SFSC ruling

The Investment Dealers Association of Canada is appealing a ruling by the Saskatchewan Financial Services Commission that says the regulator has no authority to discipline former registrants. Earlier this year, Wade MacBain, Karl Neufeld and Frederick Smith filed a motion to the SFSC to challenge the authority of the IDA to haul sanctions against them. […]

By Mark Brown |October 24, 2006

3 min read

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(October 23, 2006) Sun Life Financial has ended speculation on the fate of its U.S.-based investments division, announcing it will hold on to MFS Investment Management. The decision comes in the wake of a review Sun Life embarked upon in September. “Sun Life remains committed to the asset management business in the U.S. and MFS […]

By Staff |October 23, 2006

4 min read

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IFIC offers bold suggestions for retirement savings plans

IFIC has released its annual wish list for the next federal budget. While many of the proposals will seem familiar, they have been repositioned around the Conservative Party’s platform in the hope of getting them through. IFIC’s key message this year: do something to help boomers before they go bust. “A large portion of the […]

By Mark Brown |October 23, 2006

4 min read

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Has regulation gone too far?

Lessons from Portus Let’s take the Portus situation for example. This product was offered by some allegedly less-than-scrupulous people in an environment that is under-regulated and advisors were left with the task of delivering it to the public. Representatives and dealers are sales driven — that’s how they earn a living. And, of course, they […]

By Stephanie McManus |October 20, 2006

6 min read

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(October 20, 2006) RBC Dexia Investor Services released its quarterly survey of pension plan managers for the period ending September 30. The survey shows a rebound in pension plan investment results, helped by encouraging economic news and a stable Canadian dollar. Global markets bounced back during the September quarter, boosting Canadian pension fund investments by […]

By Staff |October 20, 2006

2 min read

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Teaching kids about money

To support the launch of its new program aimed at educating children, Edward Jones has released new survey findings that show six out of 10 Canadian parents and grandparents are concerned their children won’t be able to properly handle money when they grow up. Given current consumer debt levels and savings rates, credit counsellors say […]

By Kate McCaffery |October 20, 2006

6 min read

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Norshield principals face million dollar hearing

Hedge fund manager John Xanthoudakis and two other Norshield officers are facing an Ontario Securities Commission hearing that could see them fined $1 million each on charges of breaching securities law and conduct contrary to the public interest. RSM Richter, Norshield’s receiver, has already reported that retail investors, who put $132 million into Norshield are […]

By Scot Blythe |October 20, 2006

2 min read

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(October 19, 2006) More accustomed to disciplining stockbrokers, the BCSC has found itself issuing an order banning a pawnbroker from the province’s capital markets for 20 years. According to the regulator, Daryl Joseph Klein, of Nanaimo, B.C., sought to prop up his failing pawnshop by finding new investors. He enlisted the aid of Douglas Arnold […]

By Staff |October 19, 2006

3 min read

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Wellington West to go public

Wellington West Capital is planning to make a public offering for about 20% of the company to help fuel its growth on both sides of the border. Charlie Spiring, CEO of the Winnipeg-based brokerage, has confirmed its board has asked management to get the company ready for an IPO in approximately two years. Wellington West […]

By Renée Alexander |October 19, 2006

2 min read

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(October 18, 2006) Less than half of defined benefit pension sponsors are “committed” to maintaining their DB plans and many companies are making significant changes to the way these plans are managed, according to a survey by SEI. In a poll of 302 executives in charge of pensions, the survey found 42% were committed to […]

By Staff |October 18, 2006

3 min read

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