Industry News

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Tax cuts or a tax hike?

Finance Minister Jim Flaherty has promised to deliver on most of the promises made during the Conservative election campaign when he hands down the federal budget next Tuesday. If this is true, it’s good news for charities and for clients who want to make donations of stock and securities. Flaherty has re-iterated a pledge to […]

By Kate McCaffery |April 26, 2006

4 min read

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IFB working on Portus fee repayment plan for insurance advisors

Independent Financial Brokers is developing a plan to allow insurance agents, brokers and managing general agencies in Ontario to voluntarily return fees paid to them by Portus Alternative Asset Management. The proposal will follow an agreement struck earlier this year between the Ontario Securities Commission, the IDA and MFDA. In January, 57 investment and mutual […]

By Mark Brown |April 26, 2006

2 min read

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IDA, RS agree to merge

And then there were two. The Investment Dealers Association and Market Regulation Services have announced a plan to merge into a single self-regulatory organization to oversee the country’s brokerages and stock markets. The plan, which is still subject to various regulatory approvals and the blessing of their memberships, is built on the ashes of a […]

By Mark Brown |April 26, 2006

2 min read

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Bank of Canada raises rates to 4%

For the sixth consecutive time, the Bank of Canada has raised the overnight lending rate 25 basis points, to 4%, hinting more increases may be needed. “Some modest further increase in the policy interest rate may be required to keep aggregate supply and demand in balance and inflation on target over the medium term,” the […]

By Mark Brown |April 25, 2006

2 min read

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Ethically speaking: Cut loose or cut out?

(April 2006) We asked FCSI designees from coast-to-coast to respond to your ethical conundrums — everything from culling clients, to specific fund recommendations and a host of suitability issues. In our premiere column, hear what FCSI Bev Moir suggests for an advisor who is struggling between staying put or shipping out. You Wanted To Know… […]

By Staff |April 25, 2006

3 min read

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OSC lays more charges in Portus probe

The OSC has laid additional charges against the two men at the centre of the Portus investigation — Boaz Manor and Michael Mendelson. On April 20, the regulator charged Manor with failing to act fairly, honestly and in good faith with clients; and failing to meet his duties as a fund manager. He was previous […]

By Steven Lamb |April 25, 2006

1 min read

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Briefly:

(April 28, 2006) Return on Innovation (ROI) Capital has teamed up with Sceptre Mutual Funds on the new ROI Sceptre Monthly Income Fund. The fund packages five separate investments into one, leveraging ROI’s experience in mezzanine financing and four Sceptre funds. “By combining Sceptre with ROI’s mezzanine financing, we offer an interesting combination of debt […]

By Staff |April 24, 2006

12 min read

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Ottawa provides revenue and spending details

The federal government collected nearly $200 billion in taxes and other revenues in the fiscal year ending March 31, 2005, the department of finance said Monday in a detailed breakdown on how those funds were raised, and how they were spent. The $198.4 billion total represents about 15% of Canada’s $1.3 trillion economy. Personal income […]

By Doug Watt |April 24, 2006

2 min read

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Last minute tax tips from KPMG

Every year it arrives like clockwork, yet the end-of-April tax filing deadline still manages to catch some Canadians off guard, sending them scrambling to file at the last minute. This year, they’ll get a 24-hour reprieve, but many will still miss out on all the deductions and credits to which they are entitled. Because April […]

By Steven Lamb |April 24, 2006

3 min read

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Tories to deliver budget on May 2

Finance Minister Jim Flaherty will table his first federal budget on Tuesday, May 2. The minister confirmed the date on Monday in the House of Commons. “With this budget we will be turning over a new leaf in Canada, building on the vision set out in the speech from the throne,” he said. “We intend […]

By Staff |April 24, 2006

2 min read

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