Industry

Decorative pattern

Wise persons committee finishes consultation round

(August 26, 2003) The federally appointed wise persons committee on securities regulation has wrapped up its public consultation phase, having received 80 written submissions on how to reform Canada’s patchwork of regulatory bodies. “We are very pleased with the quantity — and especially the quality — of the input we have received from market participants […]

By Steven Lamb |August 26, 2003

1 min read

Decorative pattern

Staying onside when handling offshore accounts

(August 25, 2003) It’s bound to happen sooner or later. A client comes into your office and requests your services to help him open an offshore account. Shady notions of international intrigue and secret numbered bank accounts leap immediately to mind. There’s a certain air of mystique about the whole business. In a post-September 11, […]

By Staff |August 25, 2003

4 min read

Decorative pattern

Advisors hope CI deal will change Assante attitude

(August 25, 2003) Assante advisors are expressing cautious optimism following the announcement on Friday, August 22, that CI Fund Management was buying Assante Asset Management. There has been dissatisfaction with the management of Assante, which has been criticized for focusing too much on head office development and not enough on the individual advisor. “Assante management […]

By Steven Lamb |August 25, 2003

4 min read

Decorative pattern

CI Funds goes on buying spree, takes over Assante & Synergy

(August 22, 2003) CI Fund Management has moved into the upper echelon of Canada’s mutual fund industry, today acquiring the Canadian operations of Assante Corporation as well as Synergy Asset Management. The combined deals, worth nearly $1 billion, will make CI the number two fund firm in Canada. “We will have about $38.5 billion in […]

By Doug Watt |August 22, 2003

3 min read

Decorative pattern

CI deals get thumbs-up from industry observers

(August 22, 2003) The massive shake-up that hit the mutual fund sector on Friday morning is being welcomed by those who watch the industry. “CI has been hit hard in this period of net redemptions for the industry,” says Dan Hallett, president of Dan Hallett & Associates Inc. “What they’ve done is picked up two […]

By Steven Lamb |August 22, 2003

4 min read

Decorative pattern

IPC boss sheds light on restructuring, advisor cuts not part of plan

(August 22, 2003) The Investment Planning Counsel announced restructuring plans yesterday, including the replacement of some of its top executives, but CEO Steve Meehan wants to reassure the firm’s advisors. “We’re not cutting advisor’s payouts, the number of advisors is staying the same,” says Meehan. “We’re just getting rid of the part of our company […]

By Steven Lamb |August 22, 2003

2 min read

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

Decorative pattern

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

Decorative pattern

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

Decorative pattern

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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