Industry News

Decorative pattern

U.S. raises interest rates, hints at further hikes

(June 30, 2004) The U.S. Federal Reserve today raised its key overnight lending rate by 25 basis points to 1.25%, the first increase in four years. The decision by the Fed was unanimous and widely anticipated by economists. In a statement, the Fed pointed to “robust underlying growth in productivity,” which the committee said has […]

By Doug Watt |June 30, 2004

1 min read

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Rising health costs threatening government coffers, IDA says

(June 29, 2004) The provinces should resist the temptation to raise taxes and introduce user fees to deal with the current funding crunch in healthcare, the IDA says in a review of public finances released today. Ontario introduced a new healthcare premium (scheduled to take effect July 1) and increased existing taxes on tobacco and […]

By Doug Watt |June 29, 2004

2 min read

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Minority government fails to spook markets

(June 29, 2004) Defying the polls predicting a Conservative win, Canadian voters returned Paul Martin to 24 Sussex Drive last night, albeit with a fragile minority government which has promised much to the electorate. “Pollsters are starting to make economists look good,” says Marc Levesque, chief fixed income strategist at TD Securities. “I think everyone […]

By Steven Lamb |June 29, 2004

2 min read

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Briefly:

(July 2, 2004) Canada’s western provinces will enjoy stronger economic growth over the next few years than the rest of the country, concludes a report released today by Scotia Economics. While Scotia expects the Canadian economy to expand at an overall rate of 2.7% this year, Alberta’s economy will grow by 3.7% in 2004, Saskatchewan […]

By Staff |June 28, 2004

4 min read

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Regulator probing MFDA-IDA business arrangements

(June 28, 2004) Citing investor protection concerns, the Ontario Securities Commission (OSC) has launched an investigation into some contentious business arrangements between IDA and MFDA dealer firms. The agreements allow clients of mutual fund dealers to purchase other products, such as equity and fixed income, through special arrangements with investment dealers. OSC chair David Brown […]

By Doug Watt |June 28, 2004

3 min read

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Securing a place for gold

(June 25, 2004) With no end in sight to tensions in the Middle East and the U.S. balance sheet virtually in tatters, the price of gold seems to have found a permanent home around the $400 mark. Since 2001, gold has rallied by 60% and investment funds with a stake in the precious metal have […]

By Steven Lamb |June 25, 2004

2 min read

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Elite advisor conference update: Speaker outlines five strategies for richer relationships

(June 25, 2004) Want to become an elite advisor? Start acting like one. There’s a tendency for most advisors to focus more on portfolio construction and investment positions and less on creating a “wow” advisor-client relationship, says John Bowen Jr., president of CEG Worldwide, a New York-based advisor consultant firm. According to CEG Worldwide research, […]

By Deanne N. Gage |June 25, 2004

3 min read

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Rate hikes coming, but pace will be slow

(June 24, 2004) The U.S. Federal Reserve will raise interest rates next week, leading the Bank of Canada to tighten credit as well, Canadian bank economists. But the long-term pace of rate increases should be fairly slow. “The economy is now doing well enough on the employment front that the Fed feels comfortable reducing the […]

By Steven Lamb |June 24, 2004

3 min read

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Ontario reveals new plan for single securities regulator

(June 24, 2004) The Ontario government is making a fresh attempt to reform Canada’s fragmented securities regulation system and the minister spearheading the effort is promising flexibility as he negotiates with other provinces not sold on the idea of a single regulator. The plan — released today by Gerry Phillips, chair of the Ontario Management […]

By Doug Watt |June 24, 2004

3 min read

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B.C. reveals details of new advisor registration rules

(June 23, 2004) Advisors working for IDA and MFDA firms in B.C. will no longer be required to individually register with the province’s securities regulator, under B.C.’s proposed new securities act. The British Columbia Securities Commission (BCSC) published details of its new rules this week. The commission is introducing firm-only registration, giving companies the responsibility […]

By Doug Watt |June 23, 2004

2 min read

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