Industry News

Ontario government passes tougher securities laws

(December 10, 2002) The Ontario government has passed consumer protection legislation that gives the province’s securities regulator new powers to impose fines. Bill 198, first introduced in October, was given final approval yesterday at Queen’s Park. The Ontario Securities Commission now has the authority to hand out fines of up to $1 million for securities […]

By Doug Watt |December 10, 2002

2 min read

Industry

Standing pat: Fed holds interest rate steady at 1.25%

(December 10, 2002) In its last interest rate announcement of 2002, the U.S. Federal Reserve today left its key overnight lending rate unchanged at 1.25%, a 41-year low. In a statement accompanying today’s decision, the Fed says that “robust underlying growth in productivity is providing ongoing support to economic activity,” suggesting that although further cuts […]

By Doug Watt |December 10, 2002

2 min read

Industry

Ontario advisors join petition campaign over MFDA start-up costs

(December 10, 2002) Hundreds of financial advisors in Ontario have joined a lobbying campaign to persuade provincial governments to pay the tab for launching the Mutual Fund Dealers Association. The Federation of Independent Mutual Fund Dealers (FIMFD) launched the petition drive in October, although it has pressed the issue of MFDA start-up costs for more […]

By Jim MacDonald |December 10, 2002

3 min read

Industry

Manulife eyes Canada Life for massive merger

(December 9, 2002) Another huge merger is brewing within Canada’s life insurance industry. Manulife Financial Corporation said today it will make an offer to acquire Canada Life Financial Corporation for more than $6.4 billion. Manulife says the transaction will create Canada’s largest insurance company by market capitalization. Sun Life currently holds this position after it […]

By Jim MacDonald |December 9, 2002

1 min read