Industry News

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Soaring markets didn’t help fund sales in 2003

(January 15, 2004) The mutual fund industry posted stellar gains in 2003, but that did not help their sales, according to reports from Morningstar Canada and IFIC. All but one of Morningstar’s 35 fund indices, representing 97% of funds available in Canada, finished December in the black, riding the international recovery in equity markets. For […]

By Steven Lamb |January 15, 2004

3 min read

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IPC advisors conquer Aconcagua

(January 14, 2004) A team of advisors from IPC Financial Network has reached the summit of Argentina’s Aconcagua, the tallest mountain in the Americas. Four advisors — accompanied by two guides — reached the peak earlier this week in what was described as a “tough slog” and a “back-breaking” climb. “It was very taxing, much […]

By Doug Watt |January 14, 2004

2 min read

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Many Canadians fear outliving savings, poll finds

(January 14, 2004) A significant number of Canadians are worried they will run out of money during their retirement, according to a poll conducted for Investors Group. Not only that, but many have no idea how they want to spend their time during retirement, making it impossible to plan. “How can you achieve what you […]

By Steven Lamb |January 14, 2004

3 min read

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MFDA rethinking investor protection fund

(January 13, 2004) The MFDA is setting up a special committee to consider joining the already established Canadian Investor Protection Fund (CIPF), rather than setting up a new fund. The creation of an investor protection fund that would protect client assets in the event of a bankruptcy was mandated by regulators as a condition of […]

By Doug Watt |January 13, 2004

2 min read

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Regulatory reform goes beyond politics, Phelps says

(January 13, 2004) The provinces and the federal government must set aside their differences and accept that regulatory reform is an economic issue, not a political or constitutional issue, according to Michael Phelps, chair of the wise persons’ committee (WPC). In his first public address since the release of the WPC report, Phelps told the […]

By Steven Lamb |January 13, 2004

5 min read

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Briefly:

(January 16, 2004) The Alternative Investment Management Association of Canada (AIMA Canada) has named Lynda Briant as general manager. Briant brings experience from her past senior positions at Dow Jones Indexes, Toronto Stock Exchange and State Street Global Advisors. AIMA Canada chair Jim McGovern says Briant’s appointment “reflects the very positive industry response to AIMA […]

By Staff |January 12, 2004

7 min read

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Oil and gas trusts unstable, S&P says

(January 12, 2004) Investors who put their money into energy trusts, thinking they were safe and stable investments, were warned of stability issues in that sector by Standard & Poors (S&P). According to the ratings agency, most “upstream” trusts rank no better than SR-5 (marginal stability)or SR-6 (low stability) in terms of revenue stability. The […]

By Steven Lamb |January 12, 2004

2 min read

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Finance minister kicks off budget consultations

(January 12, 2004) Despite mixed economic signals, Canada’s freshly minted federal finance minister says Ottawa remains committed to new spending on healthcare, debt reduction and tax cuts. Ralph Goodale kicked off a series of pre-budget consultations with a speech this morning in Regina. “Our immediate challenge for 2003-04 is keeping ourselves in the black while […]

By Doug Watt |January 12, 2004

3 min read

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Independent review committees proposed for mutual funds

(January 9, 2004) Mutual funds will soon be required to set up independent review committees to oversee fund managers and monitor potential conflicts of interest, a move some critics are calling a “half measure.” The proposed new fund governance rule was published for comment today by the Canadian Securities Administrators (CSA). Under the proposal, each […]

By Doug Watt |January 9, 2004

2 min read

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Regulators introduce national registration system

(January 9, 2004) Canada’s securities regulators have published for comment a long-anticipated proposal for a national registration system (NRS), which would allow advisors and firms to register in any province, based on the rules in their home jurisdiction. Under the terms of the new rule, the home or “principal” regulator would review all advisor and […]

By Doug Watt |January 9, 2004

2 min read

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