Industry

Analyst questions Mackenzie’s fund manager moves

(April 30, 2003) Mackenzie Financial’s recent move to sever ties with Janus Capital is being welcomed by fund industry analysts. But not everyone is sold on the managerial changes Mackenzie plans for the Janus funds. Last week, Mackenzie announced the termination of Janus as lead manager of the Janus American and Janus Global Equity funds. […]

By Doug Watt |April 30, 2003

3 min read

Industry

Money laundering laws create new KYC obligations for advisors

(April 29, 2003) The recent enactment of new anti-money laundering regulations means financial advisors must step up their “know your client” (KYC) efforts, according to legal experts attending a recent conference in Toronto. As of March 31, 2003, financial institutions and intermediaries are required to report certain types of international electronic fund transfers of more […]

By Art Melo |April 29, 2003

2 min read

Industry

CSI launches online financial services job board

(April 29, 2003) With the Internet becoming the preferred choice for Canadian job seekers, the Canadian Securities Institute (CSI) has introduced an online employment service specifically for the financial services industry. The new Web site, called “Infocus,” is an attempt to bring financial firms and qualified candidates together, the CSI says. “Our research shows a […]

By Doug Watt |April 29, 2003

1 min read

Industry

SARS worries force cancellation of governance conference

(April 28, 2003) Citing concerns about SARS, the Canadian Foundation for Investor Education has postponed a one-day corporate governance symposium scheduled for June in Toronto. However, an informal check by Advisor.ca reveals that for other upcoming financial conferences in the Toronto area, it’s business as usual. The governance conference, held in association with the University […]

By Doug Watt |April 28, 2003

3 min read

Don’t fear strengthened regulatory powers, industry told

(April 25, 2003) Members of Manitoba’s investment community were warned to brace for — but not fear — continued regulatory change at a “Meet the Regulators” conference yesterday in Winnipeg. Don Murray, chair of the Manitoba Securities Commission (MSC), told the 200 in attendance that increased regulation and checks and balances aren’t designed to hurt […]

3 min read

Fee-based flap flourishes in Talvest Town Hall

(April 25, 2003) A discussion on the merits of fee-based versus commission advice took flight this month in the Talvest Town Hall. A participant in the online forum argued that since the advent of the mutual fund and its various commission structures, clients don’t really know what they’re paying for, or where their money is […]

By Doug Watt |April 25, 2003

2 min read

Debt levels fall as governments balance budgets: Fraser Institute

(April 24, 2003) Canadian government debt is on the decline thanks to the recent focus on balanced budgets, according to a study released today by the Fraser Institute. Federal, provincial and municipal debt was $797 billion in 2001, down from $851 billion in 1996. However, the debt drop was more than offset by increases in […]

By Doug Watt |April 24, 2003

2 min read

Wealthy clients underserviced, seeking more advisor contact: Survey

(April 23, 2003) Nearly half of Canada’s millionaires have switched financial advisors in the last five years, often due to lack of contact, suggests a survey of high net worth clients conducted by the Stenner Group in Vancouver. Most respondents report having a good relationship with their advisor. However, in the past five years, 43% […]

By Doug Watt |April 23, 2003

3 min read

Bank of Canada lowers growth forecast, hints at interest rate hikes

(April 23, 2003) The Bank of Canada today lowered its forecast for economic growth and said it would likely have to raise interest rates later in the year to keep inflation in check. Governor David Dodge also said that the SARS outbreak in Toronto could impact the Canadian economy, but added it’s impossible to say […]

By Doug Watt |April 23, 2003

2 min read