Industry News

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(August 3, 2006) The Ontario government announced Thursday morning that it will introduce legislation to create a new, enhanced dividend tax credit for Ontarians investing in Canadian corporations. “We’re moving to a higher dividend tax credit rate as an important part of our overall plan to enhance Ontario’s investment climate,” says finance minister Greg Sorbara. […]

By Staff |August 3, 2006

4 min read

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Mackenzie acquires Cundill Group

Mackenzie Financial Services formalized its long-standing partnership with Cundill Investment Research Thursday when the company entered into an agreement to acquire all of the investment manager’s assets. Managers on both sides say the deal is a natural and logical extension of the existing relationship. The Cundill group of managers, known for their fundamental-value approach to […]

By Kate McCaffery |August 3, 2006

3 min read

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(August 2, 2006) TD Bank Financial Group economists are calling for an imminent economic slowdown south of the border that may have an impact on the Canadian economy. However, Canada’s strong economic diversification may prevent the nation from feeling the full effects. Economist Sebastién Lavoie says industries that are highly exposed to the U.S. market […]

By Staff |August 2, 2006

2 min read

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Big changes at Seamark

Seamark Asset Management has undergone a major shake-up of its executive team, with a series of new appointments, several job cuts and the sudden resignation of one of its vice-presidents. The changes come less than six months after ClaringtonFunds shifted the bulk of their fund management away from Seamark to Industrial Alliance. In 2005, ClairingtonFunds […]

By Mark Brown |August 2, 2006

3 min read

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Emerging market funds lead July bounce

Investors beaten up by market volatility in May and June were given a chance to catch their breath in July, as most mutual fund categories posted gains, according to preliminary data compiled by Morningstar Canada. Of the 31 fund indices Morningstar tracks, 28 ended the month higher. Emerging markets funds were the top performers, with […]

By Steven Lamb |August 2, 2006

3 min read

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Ethically speaking: Trailer talk

(August 2006) We asked FCSI designees from coast-to-coast to respond to your ethical conundrums — everything from culling clients, to specific fund recommendation and a host of suitability issues. In this month’s column hear what FCSI Michele Vincenti suggests for an advisor who is aggressively promoting a poor-performing fund to her clients. You Wanted To […]

By Staff |August 1, 2006

3 min read

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(August 1, 2006) Unity Life of Canada announced today that the company has acquired the Canadian intermediate, weekly premium life and Canadian individual health insurance books of business from New Jersey based, Prudential Insurance Company of America. The company says the completed acquisition, announced back in June, adds scale to Unity Life’s business and demonstrates […]

By Staff |August 1, 2006

2 min read

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Former Advocis chair, Gary McLeod, passes away

Advocis has announced the passing of Gary McLeod, the immediate past chair of the association. He was 58 years old. “He will be remembered at Advocis and the Conference for Advanced Life Underwriting for the skill with which he led these organizations and for his years as a volunteer,” current Advocis chair Roger McMillan said […]

By Steven Lamb |August 1, 2006

2 min read

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(July 31, 2006) The Ontario Securities Commission alleged Monday morning that Biovail Corporation chairman, Eugene Melnyk, along with Biovail director and chief operating officer of Watt Carmichael, Roger Rowan, actively violated a number of insider trading securities laws. Watt Carmichael was also alleged to have mislead regulators and failed to have adequately supervised trading in […]

By Staff |July 31, 2006

3 min read

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Economic flat spot points to rate cut, economists say

Canada’s economic growth seems to have hit a plateau earlier this year, with trouble in sight. StatsCan reported Monday morning that GDP growth for May was flat. Coming on the heels of two straight months of just 0.1% growth, the flat spot is raising some eyebrows. “In its July monetary policy review update, the Bank […]

By Steven Lamb |July 31, 2006

3 min read

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