Industry News

Costello gave advice without being registered, OSC panel rules

(February 19, 2003) Brian Costello violated the Ontario Securities Act by not registering as a financial advisor, a three-member panel of the Ontario Securities Commission has ruled. The panel also decided that the popular financial commentator failed to disclose numerous conflicts of interest. A ruling on possible sanctions against Costello will be announced following submissions […]

By Doug Watt |February 19, 2003

3 min read

Industry

Seniors rely more on registered savings, CPP

(February 18, 2003) With declining interest rates, seniors are getting less of their retirement income from private investments and more from registered savings, whether in a Registered Retirement Savings Plan or a Registered Pension Plan, says Statistics Canada. In a report released last week, Statistic Canada analyzed the sources of retirement income from 1990 to […]

By Scot Blythe |February 18, 2003

2 min read

Industry

Great-West announces friendly bid for Canada Life

(February 17, 2003) Great-West Lifeco has emerged as Canada Life Financial’s white knight, today announcing a friendly $7.3 billion takeover bid for the Toronto-based insurer. The offer trumps an earlier hostile bid for Canada Life from Manulife Financial. Great-West says it has agreed to acquire all of Canada Life’s common shares for a combination of […]

By Doug Watt |February 17, 2003

2 min read

Industry

Big spender: Ottawa commits billions to healthcare, boosts RRSP limits

(February 18, 2003) Armed with a larger than expected surplus and buoyed by a resilient Canadian economy, Ottawa opened up the federal coffers today, committing billions of dollars in new spending to healthcare, defence and the environment. The federal budget also includes some tax reduction measures, including a long-awaited increase in RRSP contribution limits. Budget […]

By Doug Watt |February 17, 2003

4 min read