Industry News

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Advisor associations prep for busy 2005

(December 30, 2004) Canada’s three main advisor associations have set their agendas for 2005, with advocacy initiatives high on the list. At Advocis — the country’s largest advisor group with 15,000 members — regulatory reform and advisor professionalism will be the priorities, says president Steve Howard. “There are complementary elements within that,” Howard explains. “We’re […]

By Doug Watt |December 30, 2004

3 min read

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Briefly:

(December 31, 2004) GrowthWorks WV Management Ltd. has agreed to purchase Fullarton Capital Corporation, manager of Capital Alliance Ventures Inc. (CAVI) and Canadian Science and Technology Growth Fund Inc. (CSTGF). “The size and scope of GrowthWorks’ operations offers many advantages to CAVI and CSTGF shareholders,” said Peter Day, president and COO of Fullarton. “With GrowthWorks’ […]

By Staff |December 29, 2004

2 min read

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FSCO shuts down Myrtie Rose

(December 29, 2004) Ontario’s Superintendent of Financial Services is warning the public to avoid dealing with Myrtie Rose Benefit Program Inc., pointing out the company is not licensed in the province. On December 24, 2004, the Financial Services Commission of Ontario (FSCO) issued an Interim Cease and Desist Order against the company and its directors […]

By Steven Lamb |December 29, 2004

1 min read

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Year in review: Regulatory reform stalls

(December 29, 2004) This time last year, the winds of regulatory reform were swirling, with a number of important projects on the go. But 12 months later, little has changed and the prospect of a single national securities regulator still seems distant. In December 2003, the federally-appointed wise persons committee (WPC) released a comprehensive report, […]

By Doug Watt |December 29, 2004

3 min read

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Season’s Greetings from The ADVISOR Group

(December 24, 2004) Even if you are stuck in the middle of year-end tax planning and the approaching RRSP season, many of you still find time over the holiday season to thank your clients for their business. In that spirit, we’d like to take this opportunity to thank you for using the services that The […]

By Staff |December 24, 2004

2 min read

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Charitable donation deadline looming

(December 24, 2004) Clients wanting to make a charitable donation are running out of time, if they want to claim it on their 2004 tax filing. Perhaps a gentle reminder is in order, pointing out that New Year’s Day will be too late. Canadians tend to be a charitable lot, with 91% making either cash […]

By Steven Lamb |December 24, 2004

3 min read

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IDA panel bans U.S. regulator from hearing

(December 23, 2004) The IDA’s Ontario District Council has ruled that a representative of the U.S. Securities and Exchange Commission should not be allowed to attend a disciplinary hearing involving a Canadian broker. Brian Gruson, now with Desjardins Securities in Toronto, is accused of market manipulation involving shares in a U.S. company. The case dates […]

By Doug Watt |December 23, 2004

2 min read

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IFB welcomes disclosure guidelines for life agents

(December 23, 2004) The Independent Financial Brokers of Canada (IFB) is happy with new compensation disclosure guidelines produced by the life insurance industry association and has sent a sample disclosure document to all its members. The new standards, released on Tuesday by the Canadian Life and Health Insurance Industry Association (CLHIA), require that all sales […]

By Doug Watt |December 23, 2004

3 min read

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Bank workers seek to unionize

(December 22, 2004) TD Canada Trust employees in Sudbury, Ontario are interested in joining a union. The United Steelworkers of Canada filed an application to represent the workers on Tuesday after an “overwhelming” majority said they would support the move to unionize. The 100 staff work at eight branches in the northern Ontario city, and […]

By Doug Watt |December 22, 2004

2 min read

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Caisse to ban soft dollars

(December 22, 2004) One of the country’s largest money managers is banning soft dollar commissions on equity and derivatives trading. The Caisse de dépôt et placement du Québec says the move will take effect January 1, 2005. “In this regard, the Caisse is following the best practices recommended by various international supervisory bodies,” the financial […]

By Doug Watt |December 22, 2004

2 min read

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