Industry

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Briefly:

(December 5, 2003) Manulife Mutual Funds today announced the termination of the Elliott & Page Canadian Alphametrics Fund and the Elliott & Page U.S. Alphametrics Fund. In a statement, Manulife said the decision was taken in consultation with the funds’ sole institutional investor. The funds, which will be closed effective December 15, had combined assets […]

By Staff |December 1, 2003

4 min read

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Assante, Ontario regulator settle in out-of-province case

(November 28, 2003) Assante Financial Management has settled with the Ontario Securities Commission (OSC), over charges the firm had allowed advisors to represent clients in Ontario without proper registration. Under the settlement, Assante must hire an auditor to review its “policies, procedures and internal controls regarding out-of-province trading” with a report due within 90 days […]

By Steven Lamb |November 28, 2003

2 min read

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Ottawa announces new capital market police force

(November 28, 2003) In an effort to tackle high-level capital market fraud, federal Solicitor General Wayne Easter has announced the launch of Canada’s first integrated market enforcement teams, run by the RCMP. RCMP officers will work with lawyers and other experts in Canada’s financial centres, investigating cases of serious securities fraud and market irregularities, such […]

By Doug Watt |November 28, 2003

3 min read

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IRS backtracks on RRSP, RRIF rules

(November 28, 2003) The U.S. Internal Revenue Service has changed course on filing requirements for RRSP and RRIF account holders living in America and Americans living in Canada, stating that it will not require the submission of two complicated tax forms. The IRS had announced in the spring it was clamping down on offshore trusts, […]

By Steven Lamb |November 28, 2003

2 min read

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Diversification Made Easy

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By Staff |November 27, 2003

1 min read

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Income fund group responds to CSA guidelines

(November 27, 2003) The Canadian Association of Income Funds (CAIF) has submitted its commentary to the Canadian Securities Administrators (CSA) on the proposed National Instrument 41-201 (Income Trusts and Other Indirect Offerings). CAIF says it welcomes the national instrument as a means of encouraging growth in the income fund sector, but requests the following changes […]

By Steven Lamb |November 27, 2003

2 min read

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IDA boss weighs in on passport system

(November 27, 2003) The provinces can easily move to a passport system for securities firms and registrants by adopting a couple of simple principles, says Joe Oliver, president of the IDA. A committee of provincial finance ministers set up to consider ways to reform the country’s securities regulation system has focused on the passport model, […]

By Doug Watt |November 27, 2003

3 min read

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CCRA warns on in-kind charity donations

(November 26, 2003) The federal government has issued a fact sheet, warning investors to scrutinize in-kind charitable donations made for tax purposes through promoters. “As tax filing season approaches, you may see a growing number of advertisements for tax-shelter donation arrangements,” the release read. “While donating various items to a charity is a legitimate way […]

By Steven Lamb |November 26, 2003

2 min read

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Retail firm rebound sparks brokerage industry

(November 26, 2003) For the second straight quarter, Canada’s brokerage industry has posted healthy profits, the first time that’s happened since 2000. And there’s cautious optimism for the year ahead. Industry operating profits totalled $877 million in the July-September period, a 5% increase from the previous three months, the IDA says in its latest securities […]

By Doug Watt |November 26, 2003

3 min read

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Wise persons committee delays final report

(November 25, 2003) A federally appointed committee set up to review Canada’s securities regulation system will deliver its final report mid-December. The wise persons committee (WPC) report was originally scheduled to be released by the end of November. The WPC today released three independent research studies on securities regulation in the U.S., Europe and Australia. […]

By Doug Watt |November 25, 2003

3 min read

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