Industry News

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OSFI warns of reduced pension benefits

Sometimes getting a reduced benefit pension plan is better than no plan at all. This is the tough reality some pensioners may have to face going forward according to Nicholas Le Pan, head of the Office of the Superintendent of Financial Institutions (OFSI). OFSI has seen a marked increase in the number of plans seeking […]

By Mark Brown |February 16, 2006

2 min read

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Venture financing shifting focus

The fourth quarter of 2005 offered a bounce in the venture capital industry, with rising distributions compensating for a soft third quarter, according to data collected by Thomson MacDonald and presented by Canada’s Venture Capital & Private Equity Association (CVCA). Nationwide, reported Q4 disbursements totaled $520 million, up from $292 million in Q3. Due to […]

By Steven Lamb |February 15, 2006

2 min read

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Fund sales on a roll in January

Canada’s mutual fund industry enjoyed brisk sales in January, as investors pumped $1.6 billion in net new cash into funds, according to the latest data from IFIC. Including $533.1 million in re-invested dividends, net sales totaled $2.1 billion for the month. “It was an excellent month for sales of long term funds — the highest […]

By Steven Lamb |February 15, 2006

3 min read

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Keep insurance out of banks, says Advocis

Advocis is fighting back against a proposal to offer insurance information in bank branches, saying that Canadians are concerned about the use of their personal information, as well as sales pressure at the banks. A survey released on Thursday, conducted by Pollara for Advocis, indicates that 78% of Canadians believe that the current prohibition on […]

By Doug Watt |February 15, 2006

3 min read

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Consumers want insurance info, bankers’ poll suggests

That consumers be afforded access to insurance product information from bank branches That banks be permitted to tailor insurance information to the individual That the banks be permitted to share information, on the client’s approval, with insurance professionals That bank staff be allowed to refer clients to external insurance professionals The CBA says its poll […]

By Steven Lamb |February 14, 2006

3 min read

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IFIC weighs in on bankruptcy protection proposals

In the final days of the Liberal government, members of parliament and the senate pushed through an interesting bit of legislation that could have a significant effect on retirement planning strategies for business owners. The Wage Earner Protection Program Act was given royal assent on November 25, 2005, without public consultation or amendments, just two […]

By Kate McCaffery |February 14, 2006

3 min read

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Briefly:

(February 17, 2006) Fears of poor governance among income funds is greatly overblown, according to an study by SECOR Consulting, commissioned by the Real Property Association of Canada (REALpac) and the Canadian Association of Income Funds (CAIF). In fact, the study finds governance to be comparable to corporations. “At a time when corporate governance across […]

By Staff |February 13, 2006

10 min read

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B.C. delays implementation of new Securities Act

British Columbia has decided to play ball with other provinces, putting off the introduction of a new Securities Act until at least the end of 2007, opting instead to support the passport system. The British Columbia Securities Commission’s original changes to the act proposed a principles, rather than rules-based, regulatory regime, replacing existing regulations for […]

By Doug Watt |February 13, 2006

2 min read

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Positive year ahead for financial planners?

The economic stars could be aligning to make 2006 a profitable year for financial planners. The overall picture painted by analysts in the Winter 2006 edition of the Conference Board of Canada’s quarterly newsletter, Inside Edge, suggests the housing market will pull back to more sustainable levels and the U.S. economy could provide some interesting […]

By Kate McCaffery |February 13, 2006

3 min read

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Saskatchewan regulator rules against IDA

Regulators in Saskatchewan have ruled that the IDA does not have the right to bring disciplinary action against brokers after they have left the industry. This is a major setback for the IDA, which has been looking to the provincial securities commissions to back its enforcement efforts. The case dates back 10 years, and involves […]

By Mark Brown |February 10, 2006

3 min read

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