Industry News

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CRA offers advice on charity plans

(November 25, 2004) The Canada Customs and Revenue Agency (CRA) has issued a warning to investors considering participation in certain charitable tax shelters, pointing out they could face possible audits, penalties and interest payments. The plans in question are often referred to as “buy low, donate high” schemes, in which tax-filers receive a tax credit […]

By Steven Lamb |November 25, 2004

3 min read

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Fidelity to ease investor’s fees, advisor’s burden

(November 24, 2004) It may be hard to imagine an arrangement in which three parties benefit, but one of Canada’s biggest fund firms is betting that cutting MERs while increasing advisor payout will lead to better sales and retention. Fidelity Investments has announced a plan to lower its management fees and MERs on its entire […]

By Steven Lamb |November 24, 2004

3 min read

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Advisor Forum preview: Investment strategies for 2005

(November 24, 2004) Inflation is coming back, and that means higher interest rates and a likely end to the recent cyclical bull run, says Gavin Graham of Guardian Group of Funds. Graham, who is presenting a session on global investment outlook at this year’s Advisor Forum conferences, says Canadian stocks have been performing relatively well […]

By Doug Watt |November 24, 2004

2 min read

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Ontario seeks to extend investor rights, seniors’ tax credits

(November 23, 2004) The Ontario government has introduced legislation to allow secondary market investors to sue companies for disclosing false or misleading information. The bill would extend the same rights to such investors as those participating in an IPO. “Thanks to the Canada Pension Plan, RRSPs, other pension plans and personal investments, just about every […]

By Steven Lamb |November 23, 2004

2 min read

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Complex CPP applications hurting seniors, audit suggests

(November 23, 2004) Canada’s seniors may be losing out on some of their CPP entitlements, a recent audit suggests, partly because the application process is far too complicated. The Retirement Planning Institute (RPI), based in Ottawa, conducts independent audits of CPP and QPP cases to ensure recipients are receiving their correct entitlements. CARP, Canada’s Association […]

By Doug Watt |November 23, 2004

3 min read

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Nortel exposure haunts fund industry

(November 22, 2004) A report in the Globe and Mail this morning again warned that the New York Stock Exchange could delist Nortel before the end of the year, if it fails to meet a December deadline for reporting its audited financial statements for 2003. The NYSE has discretion on the matter and could offer […]

By Steven Lamb |November 22, 2004

2 min read

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MFDA ordered to unwind contentious business arrangements

(November 22, 2004) The Ontario Securities Commission has decided to put an end to certain business arrangements between MFDA and IDA member firms, known as omnibus or joint service accounts. The agreements allow clients of mutual fund dealers to purchase other products, such as equity and fixed income, through special arrangements with investment dealers. Under […]

By Doug Watt |November 22, 2004

3 min read

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Briefly:

(November 26, 2004) Goodman & Company, Investment Counsel is planning the merger of CMP Fund Corporation into the Canada Dominion Resource Fund Ltd., which will in turn be renamed Dynamic Managed Portfolios Ltd. (DMP). CMP shareholders will be asked to approve the merger at an annual and special meeting on December 22, 2004. If approved, […]

By Staff |November 22, 2004

6 min read

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TD suggests tough market lies ahead

(November 19, 2004) Investors will have to work a little harder in 2005 if they want to find strong returns, according to economists at TD Bank Financial. A report from the bank, entitled “2005 Investment Outlook: An Economic Perspective,” calls for weaker returns on both equity and bond markets, but sees a limited threat to […]

By Steven Lamb |November 19, 2004

2 min read

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Putting planned giving on the agenda

(November 19, 2004) It’s not an easy topic to broach, but advisors should take a more active role in talking to clients about planned giving (or charitable donations), says Tim Cestnick, managing director of AIC’s tax and estate planning group. “Canadians don’t like to talk about these issues,” Cestnick told advisors on Thursday at a […]

By Doug Watt |November 19, 2004

3 min read

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