Industry News

Decorative pattern

No fireworks in federal budget, economist predicts

(January 21, 2004) With a federal budget expected in late February or early March, economists are offering up predictions of what the fiscal plan might contain. TD’s Don Drummond says he expects only “minimalist action”: meaning no new tax cuts and little extra spending. In fact, Drummond says federal finance minister Ralph Goodale’s first budget […]

By Doug Watt |January 21, 2004

2 min read

Decorative pattern

Rising loonie sparks interest rate cut

(January 20, 2004) Citing the rapid appreciation of the Canadian dollar against its U.S. counterpart, the Bank of Canada today cut its key overnight lending rate by 25 basis points to 2.5%. In a statement, the central bank said that although inflation remains below the target rate of 2% and the global economy is growing, […]

By Doug Watt |January 20, 2004

1 min read

Decorative pattern

CPP is sound, says investment chief

(January 20, 2004) Despite the commonly held fear that the CPP will not be able to meet its obligations to those working today, it is in pretty good shape, according to the man in charge of private-sector investments for the CPP. “Many Canadians are unaware that we are now building the CPP’s reserve assets,” said […]

By Steven Lamb |January 20, 2004

2 min read

Decorative pattern

CI insurance: Tax consequences and changing demographics

(January 20, 2004) The potential tax consequences of critical illness insurance (CI) was the subject of a popular seminar at the recent World Critical Illness conference in Victoria. Florence Marino, Manulife Financial’s assistant vice-president of tax and estate planning, delved into the Income Tax Act and CCRA’s interpretations of CI in front of a capacity […]

By Sheila Avari |January 20, 2004

3 min read

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Briefly:

(January 23, 2004) AGF Trust and Vancouver-based Canadian Western Trust (CWT) are joining forces to promote each other’s RSP products. Under the terms of a partnership announced today, AGF Trust’s product line will include CWT’s self-directed RSP account. CWT expands its line-up to offer AGF Trust’s RSP loan program and RSP match no-margin loan. “This […]

By Staff |January 19, 2004

6 min read

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Advocis steps up political campaign

(January 19, 2004) Advocis has launched a postcard campaign to promote its accreditation strategy and push for rule changes at the IDA and the MFDA. The association for financial advisors wants to reform Canada’s regulatory system based on designations, such as the CFP and the CLU. “In our view, designations, with their codes of conduct […]

By Doug Watt |January 19, 2004

2 min read

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Regulators roll out new rules, proposals

(January 16, 2004) Canada’s securities regulators have announced new rules aimed at shoring up investor confidence. The rules will bring Canadian regulations in line with the U.S. Sarbanes-Oxley Act, which governs corporate governance. “We received very thoughtful feedback from market participants through the public comment period as well as through independent research done by several […]

By Steven Lamb |January 16, 2004

2 min read

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IDA joins mutual fund trading review

(January 16, 2004) Canada’s brokerage industry association is surveying the mutual fund trading practices of its 200-plus dealer members, the third regulator to undertake such a review. The IDA says it wants to know more about policies and procedures related to late trading and market timing. The moves comes in the wake of a series […]

By Doug Watt |January 16, 2004

2 min read

Decorative pattern

Critical illness gaining market share in Canada, conference delegates told

(January 16, 2004) What a difference a year makes. In 2003, the organizer of the first World Critical Illness Insurance (CI) conference told delegates Canada trailed other countries in its knowledge of CI. At this year’s conference, the message is remarkably different. Ben Miclette, Munich Re’s vice-president of living benefits, says the Canadian market generated […]

By Sheila Avari |January 16, 2004

3 min read

Decorative pattern

New breed of

(January 15, 2004) A Toronto-based firm is shaking up the labour-sponsored investment fund (LSIF) industry, today introducing three closed-end labour funds that promise lower management fees. The three Terra Firma funds from IPM Capital, available in Ontario, are the brainchild of two industry veterans: Julie Makepeace, a founding executive of Canada’s first labour fund Working […]

By Doug Watt |January 15, 2004

2 min read

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