Industry News

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Alberta to introduce limited liability for trusts

(March 25, 2004) The Alberta government says it will introduce legislation this fiscal year to limit liability for income trusts investors. The pledge came in the province’s annual budget, tabled yesterday. Income trusts have become a significant part of Alberta’s business sector, the province notes, and are still gaining popularity. “Market opportunities for income trusts […]

By Doug Watt |March 25, 2004

2 min read

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Fund manager says trust rules are fine by her

(March 25, 2004) In a budget virtually bereft of surprises, the restrictions placed on pension fund investment in income trusts stands out for the investment community. While retail investors piled into trusts as a refuge from the bear market, pension funds patiently sat on the sidelines, awaiting legal clarification on the liability issue. Legislation was […]

By Steven Lamb |March 25, 2004

4 min read

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RESP promoters pleased with budget’s education incentives

(March 24, 2004) Canada’s RESP providers are welcoming Ottawa’s efforts to encourage low-income families to put aside funds for their children’s post-secondary education. In Tuesday’s budget, the federal government announcement the creation of a new Canada Learning Bond and said it would increase the Canada Education Savings Grant (CESG) for low- and middle-income RESP savers. […]

By Doug Watt |March 24, 2004

3 min read

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Raymond James taps Bailey as president

(March 23, 2004) Raymond James Ltd. has named Peter Bailey to the office of president, where he will oversee the firm’s private client and corporate services activities. Ken Shields will remain as CEO, but will lead the firm’s equity capital markets operations. “Peter is a perfect choice for this important role. He is widely respected […]

By Steven Lamb |March 23, 2004

2 min read

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Briefly:

(March 26, 2004) The Canadian Association of Income Funds (CAIF) is commending the Alberta government for its pledge to introduce limited liability for income trusts. In the provincial budget released earlier this week, Alberta said it would introduce the trust legislation this fiscal year. “This is an important decision by the Alberta government,” said CAIF […]

By Staff |March 22, 2004

5 min read

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Online insurance dealer supports brokers

(March 22, 2004) In an age where technology has revolutionized the financial services industry, there have been many positive developments, making life easier for the professionals in the field. But there has also been a downside, according to David Slabodkin, president of Canada Protection Plan (CPP). He says the direct sales model presented by the […]

By Steven Lamb |March 22, 2004

2 min read

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Commission splitting should remain restricted, IFB says

(March 22, 2004) The rules on commission splitting in the insurance industry should be eased, but restricted to those who are regulated financial services providers, says the Independent Financial Brokers of Canada (IFB). Earlier this year, the Canadian Council of Insurance Regulators (CCIR) released a concept paper on referral arrangements, floating the idea of either […]

By Doug Watt |March 22, 2004

2 min read

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No fund trading abuses in Britain, regulator says

(March 19, 2004) Britain’s financial services regulator has found no evidence of late trading of mutual funds. And although examples of market timing were uncovered, long-term investors have not been harmed, says the Financial Services Authority (FSA). The FSA launched a trading investigation in the wake of a series of mutual fund scandals in the […]

By Doug Watt |March 19, 2004

2 min read

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Income trusts capped in a housekeeping budget

Income trusts capped in a housekeeping budget Staying the course: No surprises in Goodale’s first budget Advisors react to “non-event” budget Budget draws mixed reviews from industry associations Industry insiders analyze return to prudence The federal budget and your financial plan (Client letter) Back to main page Further work needed In last year’s budget, the […]

By Scot Blythe |March 18, 2004

7 min read

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Estate planners call for overhaul of foreign tax rule

(March 18, 2004) The federal government must redraft its proposed rules on the taxation of foreign investments, says the Society of Trust and Estate Planners (STEP), calling the current draft legislation seriously deficient and virtually incomprehensible. The legislation is an attempt to eliminate any tax advantage gained from investing in foreign-based funds and non-resident trusts. […]

By Doug Watt |March 18, 2004

2 min read

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