Industry News

Decorative pattern

IDA cools on firm-only registration

(August 21, 2003) The IDA is backing away from its previous support of a firm-only registration system for the securities industry, proposed by the British Columbia Securities Commission (BCSC). The IDA says such reforms must be implemented on a national basis. “It is unlikely that many or perhaps any other jurisdictions will follow B.C.’s lead,” […]

By Doug Watt |August 21, 2003

2 min read

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IPC shuffles execs, announces restructuring

(August 21, 2003) IPC Financial Network has announced a shakeup in its executive suite and a restructuring plan that includes the disposal of non-core assets and a consolidation of operations. “Our plans, which are nearly complete, will result in $3 million of annual savings to the company,” said IPC’s CEO Steve Meehan in a press […]

By Steven Lamb |August 21, 2003

1 min read

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Income trust market still hot

(August 20, 2003) Canada’s income trust market grew by $3.5 billion in the second quarter of 2003, according to figures released today by the IDA. The income trust universe is now valued at $50.8 billion, up 15% since the end of 2002. Thirty new trusts were created in Q2, with an average value of $101 […]

By Doug Watt |August 20, 2003

2 min read

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Ontario regulators reduce service as power crisis continues

(August 20, 2003) Ontario’s two main financial services regulators have been forced to scale back service as the province struggles to cope with an ongoing power crisis. The Ontario Securities Commission (OSC) is providing essential services only while the Financial Services Commission of Ontario (FSCO) has suspended operations entirely. A massive blackout last week left […]

By Doug Watt |August 20, 2003

2 min read

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U.S. investors getting back into funds faster than Canadians

(August 19, 2003) While U.S. investors have felt a fiercer bear market than Canadians, they’ve also been quicker to grasp the stirrings of a bull, according to research compiled by Investor Economics. “U.S. long-term funds moved into the black this year while their Canadian peers have continued to suffer net redemptions,” Investor Economics says in […]

By Staff |August 19, 2003

2 min read

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Legalizing same-sex marriage may simplify planning

(August 18, 2003) Amid headlines of disease, trade disputes, diplomatic strain and now power outages, Canada also made international headlines for its weddings. On June 10, the Ontario Court of Appeal released its decision in Halpern et al v. Attorney General of Canada, effectively legalizing same-sex marriages. Since then couples from across the country and […]

By Steven Lamb |August 18, 2003

5 min read

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Ontario blackout expected to have minimal impact on financial services industry, economy

(August 18, 2003) A massive power outage that left millions of Canadians and Americans in the dark had little impact on the financial services sector, with economists comparing its effects to that of a severe winter storm. The lights went out after the markets closed on Thursday. Trading resumed on Friday, although volume was much […]

By Doug Watt |August 18, 2003

2 min read

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Briefly:

(August 21, 2003) Insurance agents run the risk of losing their high net worth clients to retail broker-dealers if they don’t start taking advantage of technology, according to a report from Forrester Research in the U.S. The report says in the U.S. the two industries are increasingly moving into fee-based full-service financial advisory roles, with […]

By Staff |August 18, 2003

5 min read

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IFIC confirms strong fund sales in July

(August 18, 2003) It’s official — investors ploughed money back into mutual funds in July to the tune of $321 million, according to IFIC’s revised monthly report on the industry. “Sales were fueled by positive flows of $463 million into long-term funds. Also, year-to-date redemptions have decreased by $4.6 billion from the same period in […]

By Steven Lamb |August 18, 2003

4 min read

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Survey reveals

(August 14, 2003) Advisors are out of touch with their high net worth (HNW) clients in several important areas, suggests a recent U.S. study conducted for Fidelity Investments. The survey of 800 American millionaire investors and HNW advisors concludes that advisors appear to be underestimating the importance of investment performance and overestimating the importance of […]

By Doug Watt |August 14, 2003

3 min read

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