Industry

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Uniform securities project gets qualified industry support

(August 1, 2003) It appears the country’s financial services industry likes the Canadian Securities Administrators (CSA) plan to streamline and harmonize securities regulation through the uniform securities legislation (USL) project. However, that support comes with a number of caveats. The CSA has published the 89 submissions it received on the USL. “The vast majority of […]

By Doug Watt |August 1, 2003

2 min read

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Alberta advisor pushes for end to beef ban

(August 1, 2003) An independent insurance advisor based in rural Alberta has launched his own one-man campaign in an effort to resolve the country’s beef crisis. Gerold Haukenfrers of Wetaskawin, Alberta, has sent out a mass e-mail urging Canadians to put pressure on politicians to help lift an international ban on Canadian beef imports. A […]

By Doug Watt |August 1, 2003

2 min read

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New designation targets seniors’ market

(July 31, 2003) In the alphabet soup world of financial industry designations, advisor consultant Jim Ruta hopes to find a niche for the new Elder Planning Counselor (EPC) program, an initiative aimed at professionals who work with Canadians 55 years and older. The EPC designation, created by the Canadian Initiative for Elder Planning Studies (CIEPS) […]

By Doug Watt |July 31, 2003

2 min read

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Desjardins acquires Northwest Mutual Funds

(July 31, 2003) Montreal-based Desjardins Financial is expanding its mutual fund operations, today announcing the acquisition of Northwest Mutual Funds, a division of First Asset Management. Under the terms of the deal, the Northwest team will continue to manage the firm’s eight funds and will also assume responsibility for Desjardins’ Maestral fund family. Financial details […]

By Doug Watt |July 31, 2003

2 min read

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Cross-border challenge explored in August’s Advisor’s Edge

(July 30, 2003) There are few countries that share such a close relationship as Canada and the U.S. It’s not uncommon for Canadians to cross the border to work, nor is it rare for Canadians to marry Americans. But these close ties can present an advisor with several challenges, which are the focus of the […]

By Steven Lamb |July 30, 2003

2 min read

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Big-bank economists not impressed by Canada’s GDP stats

(July 30, 2003) The outlook for the Canadian economy is flat for the second quarter, according to economists at the big banks. And usual suspects — severe acute respiratory syndrome (SARS), mad cow disease and the soaring Canadian dollar — are catching the blame for this underperformance. The Canadian economy grew in May by 0.1%, […]

By Steven Lamb |July 30, 2003

3 min read

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U.S. moves forward on mutual fund fee disclosure

(July 29, 2003) U.S. mutual fund fees would become more transparent under a new bill proposed by the House of Representatives. The new law would require disclosure — in dollar amounts — of all mutual fund operating expenses borne by investors, says Paul Roye, director of the U.S. Securities and Exchange Commission’s (SEC) investment management […]

By Doug Watt |July 29, 2003

2 min read

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Briefly:

(August 1, 2003) Provinces that rely on manufacturing are facing an economic downturn, but resource-based economies should perform well, according to the Conference Board of Canada. Fortunately, though, the think-tank says the downturn should only last into next year. “Sluggish U.S. economic performance and the soaring Canadian dollar will hurt exports throughout the summer, which […]

By Staff |July 28, 2003

4 min read

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Investment managers must take proxy voting seriously, lawyer says

(July 28, 2003) Mutual fund and pension managers who do not take proxy voting seriously could be risking a lawsuit, delegates attending a compliance conference in Toronto were warned last week. Stephen Erlichman, a senior partner at law firm Fasken Martineau, admits it might be difficult to prove that an investment manager has breached his […]

By Doug Watt |July 28, 2003

3 min read

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Helping clients tackle rising debt

(July 28, 2003) Canadians may be in for a shock if interest rates were to rise suddenly, according to Myron Knodel, manager of tax and estate planning at Investors Group. “We have a lot of baby-boomers who are nearing retirement age and you’d think that we’d be getting to a point where a lot of […]

By Steven Lamb |July 28, 2003

4 min read

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