Industry News

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CAs urged to speak up on governance rules

(March 23, 2005) Canada’s business leaders have a unique opportunity to help set the rules for internal controls and reporting, but they are running out of time to voice their opinions, according to the head of a major accountancy group. “There is a ‘new normal’ making its presence felt across corporate America and we here […]

By Staff |March 23, 2005

3 min read

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Record profit for IDA firms

(March 22, 2005) Securities dealers earned a record $3.9 billion in 2004, the IDA says in its latest industry report, as small retail firms outperformed their larger integrated cousins. The year was book-ended by two record quarters. Firms made $1.2 billion in Q1 and $1.1 billion in Q4. Revenues rose to $3.3 billion in Q4 […]

By Doug Watt |March 22, 2005

2 min read

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The outlook for Canada’s provinces and beyond

(March 22, 2005) In the next couple of years, economic growth in many countries will be dependent on domestic demand while the U.S. dollar stabilizes. Business and consumer spending are going to buoy the Canadian economy in 2005, the dollar will likely finish the year around 80 cents US and the Bank of Canada will […]

By Kate McCaffery |March 22, 2005

4 min read

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Briefly:

(March 24, 2005) Quebec’s securities regulator, l’Autorité des marchés financiers (AMF), has succeeded in having a man jailed for 10 days for failure to comply with an order to cease distribution of investment contracts. A Superior Court justice ordered Michel Maheux incarcerated and fined $4,500, with his firm, Coopérative de producteurs de bois précieux Québec […]

By Staff |March 21, 2005

7 min read

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Helping clients avoid tax haven heartache

(March 21, 2005) Irrationality has long been the bane and the driver of financial markets, but just as financial advisors need to be vigilant about their advice and client investment decisions, a lesser recognized risk — a potentially powerful Achilles heel for many people — is the urge to avoid taxes. Paying taxes is inevitable […]

By Kate McCaffery |March 21, 2005

4 min read

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Like it or not, rates will rise

(March 21, 2005) On Tuesday, the Federal Reserve is widely expected to raise interest rates south of the border, making it the seventh consecutive credit-tightening move. So far, the Bank of Canada has been reluctant to follow suit, partly as a measure to bring the soaring Canadian dollar back under control. But eventually, the low […]

By Steven Lamb |March 21, 2005

3 min read

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CSA offers guidance on foreign property rule

(March 18, 2005) The Canadian Securities Administrators is speaking out on the federal government’s proposal to eliminate the 30% foreign content limit in registered plans. The CSA issued a staff notice Friday on RSP or clone funds, following requests from the industry asking the regulator to clarify a number of issues stemming from Ottawa’s move, […]

By Doug Watt |March 18, 2005

2 min read

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Dealing with disability: advice from advisors

(March 18, 2005) February’s federal budget provided new tax benefits for individuals with disabilities and their caregivers. The measures are being welcomed by advisors, who provided additional insight on working with caregiver and dependent clients. Ottawa amended the disability tax credit, extending eligibility requirements, increased the maximum annual Child Disability Benefit to $2,000 per child […]

By Heidi Staseson |March 18, 2005

3 min read

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OSC looked at 20 fundcos in last phase of probe

(March 17, 2005) The Ontario Securities Commission’s investigation into market timing practices in the mutual fund industry originally identified 20 fund companies as having suspicious activity, but determined the damage to investors was negligible in 15 of those funds, outgoing OSC chair David Brown revealed today. “Of the 20 that were part of phase three […]

By Steven Lamb |March 17, 2005

3 min read

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Whyte leaves AIC

Whyte resigned on Tuesday, an AIC spokesperson confirmed. No replacement has been announced. The industry veteran left AIM Trimark last summer and came to AIC in the fall, with a mandate to re-connect with advisors, boost the company’s wholesale and marketing team and help turnaround a lengthy run of net redemptions. Outflows at AIC reached […]

By Doug Watt |March 16, 2005

1 min read

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