Industry News

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MFDA issues investment loan warning

(August 19, 2005) Danger, free money. The MFDA has issued a warning to members regarding what it calls misleading communications involving investment loans. “MFDA staff has become aware of communications sent by affiliated financial institutions of fund managers to MFDA members, which promote investment loans in a manner that is misleading and contrary to the […]

By Philip Porado |August 19, 2005

2 min read

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Bond market picks up steam in Q2

(August 18, 2005) After a sluggish first quarter, debt financings and trading gained in Q2, generating $41.5 billion, a 14% increase from the same period last year, the IDA says in its quarterly review of debt new issues and trading. Although issuance of government bonds was relatively flat as Ottawa stuck to its debt reduction […]

By Doug Watt |August 18, 2005

2 min read

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Hallett suggests DSC revamp

(August 18, 2005) Fund companies should consider giving investors a break on their fees once their DSC schedule runs its course, according to one prominent fund industry analyst. “Industry critics and investor advocates call the system unfair since fund companies easily recoup the cost of the upfront commission paid in well under six years,” says […]

By Steven Lamb |August 18, 2005

3 min read

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Energy companies warned of human rights risks

Maintaining transparency of community-building investments to eliminate corruption Ensuring security forces hired to protect corporate assets do not contribute to violations Making clear commitments not be complicit in human rights violations Redoubling due diligence regarding country risk assessments, especially in human rights hot zones Redoubling due diligence regarding country risk assessments, especially in human rights […]

By Doug Watt |August 17, 2005

2 min read

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Flu pandemic could lead to the next great depression, economists say

(August 17, 2005) Avian flu is frequently relegated to the back pages of newspapers and rarely considered an investment risk by money managers, but a new research report from BMO Nesbitt Burns, entitled An Investor’s Guide to Avian Flu, which catalogues the possible economic and societal fallout of a global pandemic, could change all that. […]

By Kate McCaffery |August 17, 2005

3 min read

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RESP knowledge still lacking, survey reveals

(August 16, 2005) Despite the fact the federal government of Canada is practically giving away money to parents who save for their children’s education, more than half say they have not opened a Registered Education Savings Plan (RESP). Even if a client’s children aren’t old enough to have them thinking about back-to-school specials, the time […]

By Kate McCaffery |August 16, 2005

3 min read

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Advisors urged to tackle controversial issues

(August 16, 2005) Contrary to what you might think or have heard, industry critic Glorianne Stromberg says she has a healthy respect for financial advisors, since they are on the front line, closest to clients. The securities lawyer and former Ontario Securities Commissioner also wants to dispel the myth that she supports “massive regulation,” but […]

By Doug Watt |August 16, 2005

3 min read

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Briefly:

(August 19, 2005) The IDA has scheduled a hearing later this month in relation to market timing allegations against HSBC Securities. A panel will review a settlement agreement relating to market timing activities in mutual funds that occurred between January 2002 and July 2002, the brokerage industry association said in a release today. “The hearing […]

By Staff |August 15, 2005

12 min read

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Under the 49th: U.S. regulatory update

Asking customers whether they want aftermarket shares, and at what price, prior to the completion of the IPO distribution. Telling customers that expressing interest in buying shares in the immediate aftermarket will help them obtain allocations of hot IPOs. Tie-in agreements that promise aftermarket bids or purchases of IPO shares made prior to the completion […]

By Philip Porado |August 15, 2005

4 min read

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July fund sales highest in seven years

(August 15, 2005) July was another strong month for the Canadian mutual fund industry, as net new sales totaled $1.9 billion, according to IFIC. “Investors want financial products that offer them flexibility, diversification and professional management — the hallmarks of mutual funds,” said John Murray, IFIC’s vice president of regulation and corporate affairs. “That’s why […]

By Steven Lamb |August 15, 2005

3 min read

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