Industry News

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Fund industry assets forecast to rise to $700 billion by 2010

(September 10, 2003) The days of explosive growth may be over, but that doesn’t mean Canada’s mutual fund sector is on the decline, industry leaders believe. Fund assets could rise by at least $300 billion by the end of the decade, predicts IFIC president Tom Hockin. “This industry still has room to grow,” Hockin said […]

By Doug Watt |September 10, 2003

3 min read

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Briefly:

(September 12, 2003) Boston-based Putnam Investments is exercising an option to boost its stake in Toronto’s Sceptre Investment Counsel by about 5%, bringing its total stake to just under 10%. “This purchase is an expression of our confidence in the quality of the Sceptre management team and in the strength of its investment management,” said […]

By Staff |September 9, 2003

4 min read

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SEC must learn to play nice with other regulators, U.S. economist says

(September 9, 2003) The U.S. must stop pretending to hold a monopoly on the securities industry and adopt mutual recognition of foreign regulators, according to one of America’s leading international economists. “There is a stark dichotomy between the way America invests and the way America governs,” says Dr. Benn Steil, André Meyer senior fellow in […]

By Steven Lamb |September 9, 2003

3 min read

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Fewer Canadians working with financial professionals, survey concludes

(September 9, 2003) The number of Canadians using the services of a financial professional to help manage their money appears to be on the decline. A consumer survey released today by the Financial Planners Standards Council (FPSC) reveals that 39% of Canadians are currently working with a financial professional, compared to 49% when the same […]

By Doug Watt |September 9, 2003

3 min read

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Canada should think twice about Sarbanes-Oxley, experts say

(September 8, 2003) The Sarbanes-Oxley Act came in for some harsh criticism today at a one-day corporate governance symposium in Toronto, attended by academics and regulators from around the world. The legislation, passed quickly by American politicians last year in the wake of a series of accounting scandals, imposes tough new regulations on U.S. corporations […]

By Doug Watt |September 8, 2003

3 min read

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Parents dread tuition costs, but few have RESPs

(September 5, 2003) Canadian parents are not saving enough for their children’s post-secondary education, according to an Ipsos-Reid poll conducted for Scotiabank, with 65% saying tuition increases are making a university education impossible. “The cost of post-secondary education and how to finance it is a concern for the majority of Canadian parents,” said Ron Laursen, […]

By Steven Lamb |September 5, 2003

3 min read

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Ontario court case sparks fiduciary responsibility debate

(September 5, 2003) Just what is a fiduciary relationship? That’s the question advisors are asking in the wake of a recent court ruling. The Ontario Court of Appeal reversed an earlier decision against a broker who was accused of breaching his fiduciary responsibility by engaging in the unauthorized trading of shares. Mark Schram of TD […]

By Doug Watt |September 5, 2003

3 min read

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Winning streak: Funds finish summer on an upbeat note

(September 4, 2003) For the second straight month, Canada’s mutual fund industry posted modestly positive net sales as investors tentatively returned to the markets. Net sales are expected to be about $200 million in August, according to preliminary estimates released yesterday by IFIC. “Assets in the industry have increased for the fifth straight month to […]

By Doug Watt |September 4, 2003

1 min read

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Advisor’s Edge celebrates its fifth anniversary

(September 4, 2003) Is there any better way to celebrate a fifth birthday than by hosting a symposium of 35 top financial services industry professionals to debate the issues facing their industry? “We hosted a symposium, featuring some of the movers and shakers in the industry — some top advisors, some industry leaders — and […]

By Steven Lamb |September 4, 2003

3 min read

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CSA restructures, sets up Montreal office

(September 4, 2003) The Canadian Securities Administrators (CSA), a loose coalition of the country’s provincial and territorial securities commissions, is formalizing its structure, setting up a head office in Montreal and creating a new high-level committee to handle policy and rule development. CSA chair Stephen Sibold insists the move is not an attempt to position […]

By Doug Watt |September 4, 2003

3 min read

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