Industry News

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Cross-pillar deals unlikely: Experts

(June 23, 2004) The Canadian financial services industry is in good shape, but investors shouldn’t get too excited about the rumours of insurance firms buying up banks, according to the Standard & Poor’s Canadian Financial Institutions Sector Briefing. Even if regulators were inclined to approve so-called “cross-pillar” consolidation plays, they are unlikely to happen any […]

By Steven Lamb |June 23, 2004

3 min read

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Fair dealing model to be simplified, says OSC chair

(June 22, 2004) The Ontario Securities Commission’s (OSC) controversial fair dealing model will be simplified and refocused, says commission chair David Brown, following input from working groups and some negative industry reaction. Six working groups, including 160 volunteers, have been studying the fair dealing concept — a fundamental shift from product-based to relationship-based regulation — […]

By Doug Watt |June 22, 2004

2 min read

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(June 25, 2004) The Ontario government has tabled long-awaited legislation that would limit liability for income trust investors. The Trust Beneficiaries’ Liability Act was reintroduced in Ontario’s spring budget after the previous government failed to pass the legislation. Under the terms of the act, the beneficiaries of a trust would not be liable in the […]

By Staff |June 21, 2004

6 min read

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Industry reacts to mutual fund allegations

(June 21, 2004) Investor confidence may be set to take another hit, as one of Canada’s largest newspapers launches a week-long series probing the mutual fund industry. A report in today’s Globe and Mail estimates that a “select few” institutional investors have reaped profits of between $550 million and $650 million through market timing, leaving […]

By Staff |June 21, 2004

4 min read

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Investor issues absent from election campaign

(June 21, 2004) Amid all the federal election campaign hype, there’s been nary a whisper on issues related to the financial services industry, such as investor protection and regulatory reform. That’s an oversight Toronto advisor and author John DeGoey would like to see addressed. “We have a situation where the two major parties have both […]

By Doug Watt |June 21, 2004

4 min read

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Avoiding long-term care talk puts everyone at risk, consultant warns

R elated Stories Advisors should question their fund managers, industry expert urges CIFPs vows to protect planners’ interests CIFPs conference update: Expert reveals three-step plan for practice profitability Costello upbeat heading into CIFPs conference It is commonly held that people should now base their financial plan around the assumption they will reach the age of […]

By Steven Lamb |June 18, 2004

4 min read

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AIMA releases hedge fund primer, announces research award

(June 21, 2004) Hedge funds in Canada are raising their popular and academic profile. Last week, the Canadian chapter of the Alternative Investment Managers Association (AIMA) released a hedge fund primer, and announced an annual prize for the best Canadian research paper on hedge funds. The primer, compiled by Bernice Miedzinski of institutional advisor York […]

By Scot Blythe |June 18, 2004

4 min read

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Advisors should question their fund managers, industry expert urges

What is your company’s policy on their role as representing unitholders with respect to the voting of shares, and other shareholder issues? Do you publicly disclose how your company has voted their shares in all holdings? If so, where do I find this information? If not, why? What is your company’s viewpoint toward executive and […]

By Steven Lamb |June 17, 2004

3 min read

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IDA conference update: Small dealers survived, now thriving

(June 17, 2004) Ian Russell admits he thought consolidation among Canada’s smaller brokerages was inevitable, particularly when the market bottomed out in 2002. Not only have those small firms managed to survive, but they’re now thriving as stocks rebound and the economy strengthens, says the IDA’s senior vice-president. Russell presented his annual state of the […]

By Doug Watt |June 17, 2004

3 min read

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(June 18, 2004) AGF Management has appointed economist David Hale to the board of directors of their mutual fund corporations. Hale — founder of Chicago-based Hale Advisors — will also serve as a governor of AGF’s mutual fund trusts. Before launching his own firm, Hale was global chief economist at Zurich Financial Services Group. “David […]

By Staff |June 16, 2004

4 min read

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