Industry News

Decorative pattern

Norbourg shut down amid fraud allegations

(August 25, 2005) Montreal-based Norbourg Asset Management has been shut down by regulators in Quebec who allege that $70 million belonging to mutual fund investors has been embezzled. As many as 5,000 investors may be affected. At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs […]

By Doug Watt |August 25, 2005

2 min read

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Task force makes recommendations to secure DB pension plans

(August 24, 2005) There are a number of issues threatening the future of defined benefit (DB) pension plans. Financial advisors are probably already aware of the trend — between 1992 and 2003, the number of Canadian workers covered by workplace pension plans dropped from 44% to 34%. The decline in coverage has been most significant […]

By Kate McCaffery |August 24, 2005

3 min read

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Canadians opt for balance, Americans time market

(August 24, 2005) The stereotype of Canadians being more conservative investors than their American cousins appears to be true, at least in their tastes for mutual funds, according to an IFIC study. After studying sales data over the past 10 years, IFIC found that Canadians show a stronger affinity for balanced funds, while U.S. investors […]

By Steven Lamb |August 24, 2005

3 min read

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MFDA beefing up staff

(August 23, 2005) Need a job? MFDA has several openings and has recently taken out an ad in the Globe and Mail listing no fewer than six positions and including such titles as Financial Compliance Manager; Compliance Manager; and Financial Examiner. What’s prompting the staff increase? “Our financial examinations department is expanding,” explains MFDA compliance […]

By Philip Porado |August 23, 2005

2 min read

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Advisor groups critical of proposed new insurance regulations

(August 23, 2005) The already complex web of regulations governing advisors could get a little more onerous, and unnecessarily so, industry groups say, if an insurance review committee proceeds with plans to introduce new legislation related to disclosure of commissions and perceived conflicts of interests. The Canadian Council of Insurance Regulators (CCIR) and Canadian Insurance […]

By Kate McCaffery |August 23, 2005

3 min read

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Will marine shipping stocks soon enter choppier waters?

There is a new sector stowed away among today’s top performers – the marine shipping industry. Year to date, it has significantly outperformed broader markets. Given the sector’s ultra-seaworthy momentum, you must ask yourself an essential and timely question: will the sailing for this group go as smoothly in the coming months? More importantly, will […]

By Staff |August 22, 2005

2 min read

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Briefly:

(August 26, 2005) Morningstar Canada decided today to stop reporting on the Norbourg and Evolution mutual funds, and has since removed them from the company’s web-based products and services. Information on the funds will remain accessible through the PALTrak and BellCharts desktop products until the next update is released in the second week of September. […]

By Staff |August 22, 2005

12 min read

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Regulators create new insurance complaint reporting system

(August 22, 2005) Insurance regulators in Ontario and Quebec are joining forces on a new complaint reporting project, expected to be the blueprint for a future national system. The change, which resulted from an industry-wide working group established at the beginning of the year, will require insurance companies in both the property/casualty and life and […]

By Doug Watt |August 22, 2005

2 min read

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Winnipeg money manager back in the game

(August 22, 2005) Larry Sarbit, one of Canada’s best-known value investors, has struck out on his own with the creation of Sarbit Asset Management, which officially opened its doors for business today. Sarbit has been working on the launch since resigning from AIC in April. He says didn’t entertain offers from other firms. In fact, […]

By Geoff Kirbyson |August 22, 2005

3 min read

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TSX seeks input on ticker extensions

(August 19, 2005) The Toronto Stock Exchange is seeking comment from market participants on the use of stock ticker extensions to denote voting status of the different classes of shares listed on the market. The new standard came into effect September 30, 2004 and added suffixes such as “SV”, “NV” and “MV” to shares to […]

By Steven Lamb |August 19, 2005

2 min read

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