Industry News

Decorative pattern

Fixed-rate mortgages losing market share

(October 28, 2004) Canadians still prefer the safety and security of a fixed-rate mortgage, but variable-rate mortgages are gaining in popularity, a new survey released today by BMO Financial Group suggests. The study found that 68% of homeowners held a fixed interest-rate mortgage, while 22% favoured a variable, or floating-rate, mortgage. BMO vice-president Maria Racanelli […]

By Doug Watt |October 28, 2004

3 min read

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S&P weighs including trusts in TSX Composite

(October 28, 2004) Since the late 1990s, income trusts have enjoyed explosive growth on the Toronto Stock Exchange, especially after the tech implosion, by investors seeking shelter from the bear market in yield-bearing vehicles. The number of trusts has grown from a handful to 160 in September 2004 and as a group they account for […]

By Steven Lamb |October 28, 2004

5 min read

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FSCO

(October 27, 2004) Regulatory scrutiny of the commission structure in the insurance industry has moved north of the border, as the Ontario government has directed the Financial Services Commission of Ontario (FSCO) to review the use of contingent commissions. FSCO is remaining tightlipped about its role. “We will be providing information to the ministry,” says […]

By Steven Lamb |October 27, 2004

1 min read

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Market volatility around U.S. election seen as short-term

(October 27, 2004) The stock markets could be jumpy in the days around next week’s tight race for U.S. president, but long term it likely won’t make much difference, says the author of a new study on elections and market trends. “Markets rally as soon as it becomes apparent who is going to be elected,” […]

By Doug Watt |October 27, 2004

3 min read

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Deposit broker calls for CDIC overhaul

(October 26, 2004) The protection provided by the Canada Deposit Insurance Corporation (CDIC) has been seriously eroded by inflation and should be bumped up to $100,000 from the current level of $60,000, says David Newman, a deposit broker with Fiscal Agents in Oakville, Ontario. The CDIC insures eligible deposits at member institutions and reimburses depositors […]

By Doug Watt |October 26, 2004

2 min read

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Radio-Canada

(October 26, 2004) If Canada’s financial advisors were growing accustomed to abuse in the national print media, they are today facing public scrutiny in perhaps the most influential media source of all: national television. While New York State Attorney General Eliot Spitzer investigates contingency commissions in the U.S. insurance industry, a report on the French […]

By Steven Lamb |October 26, 2004

2 min read

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Briefly:

(October 29, 2004) In an unusual move, the British Columbia Securities Commission (BCSC) has denied a request by the IDA to increase penalties against a rogue broker. Last year, Robert Gawthrop admitted to violating IDA rules by selling “off-book” investment products. In 2001, Gawthrop, while working for Dundee Securities, referred some clients directly to a […]

By Staff |October 25, 2004

5 min read

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Labour fund assets recover, but sales still weak

(October 25, 2004) Labour fund assets have almost returned to their 2000 levels — the peak of the Silicon Valley IPO boom — but sales are still down from the rates attained in the late 1990s, according to data from Toronto consultancy Investor Economics. “The number of Labour-Sponsored Investment Funds is at a record high,” […]

By Scot Blythe |October 25, 2004

3 min read

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Insurance investigation creeps north of the border

(October 25, 2004) A U.S. investigation into allegations of hidden commissions in the insurance industry is starting to make waves in Canada. But the probe has so far focused on the property and casualty side of the business and life agents here aren’t anticipating much negative fallout. “I don’t think it’s an issue in the […]

By Doug Watt |October 25, 2004

4 min read

Decorative pattern

Advisor Forum update: Income trusts no flash in the pan, advisors told

(October 22, 2004) The booming income trust market will always have its naysayers, but there are compelling reasons to believe that trusts are here to stay and will remain profitable, according to Dean Orrico, portfolio manager at Middlefield Income Funds, who spoke at the Halifax Advisor Forum earlier this week. Admittedly, Orrico has a vested […]

By Doug Watt |October 22, 2004

3 min read

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