Industry

Decorative pattern

Dundee agrees to sanctions in RRSP scam

(August 12, 2003) Dundee Securities has agreed to review its compliance procedures and pay $150,000 in costs after one of its registrants apparently masterminded a scam involving the purchase of shares using funds in locked-in RRSP accounts. The Ontario Securities Commission (OSC) says Brian Verbeek processed hundreds of transactions worth more than $17 million while […]

By Doug Watt |August 12, 2003

2 min read

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Briefly:

(August 14, 2003) The CPP Investment Board (CPPIB), the body that oversees equity investments for the CPP, has committed $550 million to new and existing private equity partnerships. The CPPIB has $5.6 billion committed to 37 limited partnerships, with $1.6 billion of that already invested in private equity. The latest commitment of funds are to […]

By Staff |August 11, 2003

4 min read

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Making middle net worth work

(August 11, 2003) Chasing high net worth (HNW) clients has always been something of a Holy Grail for financial advisors. But competition for the already tight HNW market is heating up and recent studies suggest the number of millionaires is on the decline. If the idea of running even harder to snare that rare but […]

By Art Melo |August 11, 2003

4 min read

Decorative pattern

Regulatory competition counterweight to securities industry concentration, Quebec study argues

(August 8, 2003) Perceptions not established facts drive the debate on securities regulation in Canada, says an academic study commissioned by Quebec’s securities regulator. The report is also highly critical of brokerage fees and the “extreme concentration” of investment dealers, as well as the Toronto Stock Exchange’s status as more than a “regional” small-cap exchange. […]

By Scot Blythe |August 8, 2003

5 min read

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CPP investments ride market rally

(August 7, 2003) The CPP Investment Board (CPPIB) reported its plan had earned a healthy 5.5% return on pension contributions in the quarter ending June 30, adding $3.1 billion to the pension plan’s coffers. In the previous quarter the board had posted a loss of $1.2 billion. “While our first-quarter results are encouraging, Canadians should […]

By Steven Lamb |August 7, 2003

2 min read

Decorative pattern

Investors return to mutual funds in July

(August 6, 2003) July was a good month for the mutual fund industry, as investors piled back in to the tune of $300 million, according to estimates from IFIC. “This is the first time that net sales have been positive since last RRSP season. The majority of the sales are likely from long-term funds which […]

By Steven Lamb |August 6, 2003

2 min read

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Panel calls for stricter accounting ethics

(August 6, 2003) An international panel of experts has set out guidelines aimed at cleaning up the accounting industry and corporate reporting. The International Federation of Accountants (IFAC) released a report entitled “Rebuilding Public Confidence in Financial Reporting: An International Perspective,” which calls for the creation of codes of conduct and ethics for the corporate […]

By Staff |August 6, 2003

2 min read

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Briefly:

(August 8, 2003) CIBC has appointed an independent committee to monitor the trade of CIBC equities within mutual funds the company controls. The committee was a sticking point for regulators, which wanted to ensure there was no interference from the parent company. The committee is made up of John W. Crow, William Thornhill and Frank […]

By Staff |August 5, 2003

3 min read

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OMERS, CMA Canada back Directors College

(August 5, 2003) The Directors College received a shot in the arm today, as three of the top advocates for improved corporate governance announced their support for the education initiative. The Ontario Municipal Employees Retirement System (OMERS), The Society of Management Accountants of Canada (CMA Canada) and the Canadian Coalition for Good Governance have all […]

By Steven Lamb |August 5, 2003

2 min read

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Desjardins launches new firm, partners with Fiera

(August 5, 2003) There’s a new name in wealth management in Quebec, as Desjardins Financial announced the creation of Desjardins Asset Management today. The new division will be created through the merger of Desjardins’ existing investment branches, Opvest and Elantis Investment Management. “The creation of Desjardins Asset Management will enable us to consolidate our asset […]

By Steven Lamb |August 5, 2003

2 min read

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