Industry News

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Insurance issues dominate complaint centre’s first year

(February 4, 2004) The consumer complaint centre for the financial services industry received more than 3,500 complaints in its first year of operation. The majority of those concerned insurance, says the Centre for the Financial Services OmbudsNetwork (FSON), which released its annual report today. The centre — which began operating in November 2002 — received […]

By Doug Watt |February 4, 2004

2 min read

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Credit quality will be stable in 2004, S&P predicts

(February 4, 2004) Fixed income investors can take heart, as credit quality should remain stable for 2004, according to rating agency Standard & Poors. “We expect that 2004 will be a period of relative stability for Canadian credit quality,” says Robert Palombi, economist and fixed income analyst at Standard & Poors. “Stabilizing credit quality will […]

By Steven Lamb |February 4, 2004

3 min read

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Insurance regulator looks at relaxing rules on referral fees

(February 3, 2004) The Canadian Council of Insurance Regulators (CCIR) is considering amending the rules on referral arrangements to permit commission splitting on a wider scale. Referral fees between licensed insurance agents are not prohibited. However, the issue gets complicated when a person who is not insurance-licensed makes the referral. In that instance, a flat […]

By Doug Watt |February 3, 2004

2 min read

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Briefly:

(February 5, 2004) The worldwide value of mutual fund assets hit $12.83 trillion US by the end of the third quarter of 2003, marking a 4% increase during that quarter, according to a report from the Investment Company Institute. The increase was due to both the ongoing recovery in equity markets and an increase of […]

By Staff |February 3, 2004

6 min read

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Millionaires willing to switch advisors, survey suggests

(February 2, 2004) Advisors serving Canada’s high net worth (HNW) market must maintain a positive relationship with their clients or risk losing them, a new survey suggests. A Stenner Group poll released today reveals that 44% of millionaires surveyed have changed their primary advisor in the past five years. Investment performance was the main reason […]

By Doug Watt |February 2, 2004

2 min read

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IFIC slams

(February 2, 2004) The head of IFIC is calling on the Canada Deposit Insurance Corporation (CDIC) to stop its ad campaign, which he calls critical of the mutual funds industry. “We request that CDIC stop the targeting of mutual funds in its advertising,” read a letter to the CDIC from Tom Hockin, IFIC president and […]

By Steven Lamb |February 2, 2004

3 min read

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SROs lack enforcement muscle, says IDA boss

(January 30, 2004) Canada’s self-regulatory organizations (SROs) should be given enhanced enforcement powers, such as the right to treat disciplinary decisions as court orders, says IDA president Joe Oliver. Effective enforcement of disciplinary orders is critical to a credible regulatory regime, Oliver said on Thursday, January 29, at an SRO conference in Toronto. “There is […]

By Doug Watt |January 30, 2004

2 min read

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Fair dealing model fails — Advocis

(January 30, 2004) Yesterday’s release of the fair dealing model concept paper by the Ontario Securities Commission (OSC) has been met with a heated response from Advocis. “This smacks of regulatory opportunism in an area where the OSC has no experience or qualifications,” said Steve Howard, president and CEO of Advocis. “It seems more interested […]

By Steven Lamb |January 30, 2004

4 min read

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Diversification: The best way to achieve long-term investment goals.

Franklin Templeton Investments has developed a flash tool and collateral to be used with clients on the benefits of diversifying across all asset classes. Why Diversify? To Participate and Protect. Asset classes perform differently on an annual basis and no single asset class has been a top-performer for several consecutive years. True diversification means investing […]

By Staff |January 29, 2004

1 min read

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Venture caps encouraged by equity markets

(January 29, 2004) The strong performance of Canada’s equity markets in 2003 has sparked renewed optimism in the venture capital field, according to a survey released by Deloitte and the Canadian Venture Capital Association (CVCA). The survey found 60% of Canada’s venture capitalists (VCs) expect an improved overall economic climate over the next six months, […]

By Steven Lamb |January 29, 2004

1 min read

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