Industry News

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Investors must pay more attention to exchange rates, says TD

(February 10, 2004) U.S. equity markets delivered stellar returns in 2003. But Canadian investors missed out on much of those gains due to the loonie, which surged 20% last year against the greenback. Exchange rate considerations must become an integral part of the investment process, says TD Economics in a report released today. “The most […]

By Doug Watt |February 10, 2004

2 min read

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Briefly:

(February 13, 2004) The Canadian Securities Administrators (CSA) are calling on the income trust sector to clean up its disclosure practices, following a study of 40 trusts last year. While some of the trusts, which were not named, were in compliance in each category, the CSA found deficiencies in disclosure of distributable cash, comparative figures, […]

By Staff |February 9, 2004

7 min read

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Equity market financing hits five-year high

(February 9, 2004) Stock market financing reached a five-year peak in the fourth quarter of last year with equity issues totalling $14 billion, the IDA says. Rising stock markets, continued economic growth in the U.S., low interest rates and tame inflation were the main reasons for the gains, the brokerage industry association said in its […]

By Doug Watt |February 9, 2004

1 min read

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Financial planning added to CIFPs E&O coverage

(February 9, 2004) Fee-based financial planners will now be eligible for errors and omissions insurance (E&O) coverage under the terms of the Canadian Institute of Financial Planners’ (CIFPs) new E&O policy. The ACE-INA policy, revealed last week, has two categories — one for transaction-based planners and one for fee-based planners, says CIFPs managing director Keith […]

By Doug Watt |February 9, 2004

2 min read

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Survey sees reasonable economic growth for Canada in 2004

(February 6, 2004) The Canadian economy can look forward to a year of moderate growth with low inflation and a stabilized exchange rate, according to a survey by Watson Wyatt, consultants in human capital and financial management. “The survey results reaffirm that the Canadian economy is on course for prosperity, as experts anticipate an improvement […]

By Steven Lamb |February 6, 2004

3 min read

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MFDA responds to Advocis

(February 6, 2004) A letter-writing and postcard campaign on client account transfers, organized by Advocis, has generated a response from the MFDA. In a statement released yesterday, the MFDA said its board of directors has received a “number” of identical letters dealing with clients and account transfers, as well as postcards on the same topic. […]

By Doug Watt |February 6, 2004

2 min read

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Ethical, Meritas top second annual SRI fund rankings

(February 6, 2004) Ethical’s Canadian Dividend Fund and the Meritas Jantzi Social Index Fund took top spots in the second annual survey of socially responsible (SRI) mutual funds in Canada, produced by Corporate Knights magazine. Researchers looked at nearly 50 SRI funds, rating them on both one-year performance and social factors, including research, community investment […]

By Doug Watt |February 6, 2004

2 min read

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Fair dealing model update: OSC considers single licence for advisors, firms

(February 5, 2004) Many industry participants are still digesting part one of the Ontario Securities Commission’s (OSC) fair dealing model, released last week, but the regulator is already looking ahead to a second concept paper, which will focus on the licensing of financial firms and individuals. “A number of costly inefficiencies and gaps arise because […]

By Doug Watt |February 5, 2004

3 min read

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Pension plan sponsors need advisors — but not all should apply

(February 5, 2004) Pension plan sponsors looking to provide their employees with education and advice about their plans should engage the services of financial planners. But they should also be sure to hire qualified, properly resourced firms or individuals, says Advocis chair Brian Mallard. Mallard — speaking to a room full of defined contribution plan […]

By Darin Diehl |February 5, 2004

3 min read

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IFIC reports January fund sales higher

(February 4, 2004) Mutual funds sales improved in January, as Canadians bought an estimated $1.8 billion worth of funds, according to a preliminary report from IFIC. That marks a rise of $700 million over the previous month. Assets in funds grew to an estimated $450 billion to $455 billion as the markets continued to move […]

By Steven Lamb |February 4, 2004

1 min read

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