Industry News

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Regulators roll out new rules, proposals

(January 16, 2004) Canada’s securities regulators have announced new rules aimed at shoring up investor confidence. The rules will bring Canadian regulations in line with the U.S. Sarbanes-Oxley Act, which governs corporate governance. “We received very thoughtful feedback from market participants through the public comment period as well as through independent research done by several […]

By Steven Lamb |January 16, 2004

2 min read

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IDA joins mutual fund trading review

(January 16, 2004) Canada’s brokerage industry association is surveying the mutual fund trading practices of its 200-plus dealer members, the third regulator to undertake such a review. The IDA says it wants to know more about policies and procedures related to late trading and market timing. The moves comes in the wake of a series […]

By Doug Watt |January 16, 2004

2 min read

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Critical illness gaining market share in Canada, conference delegates told

(January 16, 2004) What a difference a year makes. In 2003, the organizer of the first World Critical Illness Insurance (CI) conference told delegates Canada trailed other countries in its knowledge of CI. At this year’s conference, the message is remarkably different. Ben Miclette, Munich Re’s vice-president of living benefits, says the Canadian market generated […]

By Sheila Avari |January 16, 2004

3 min read

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Soaring markets didn’t help fund sales in 2003

(January 15, 2004) The mutual fund industry posted stellar gains in 2003, but that did not help their sales, according to reports from Morningstar Canada and IFIC. All but one of Morningstar’s 35 fund indices, representing 97% of funds available in Canada, finished December in the black, riding the international recovery in equity markets. For […]

By Steven Lamb |January 15, 2004

3 min read

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New breed of

(January 15, 2004) A Toronto-based firm is shaking up the labour-sponsored investment fund (LSIF) industry, today introducing three closed-end labour funds that promise lower management fees. The three Terra Firma funds from IPM Capital, available in Ontario, are the brainchild of two industry veterans: Julie Makepeace, a founding executive of Canada’s first labour fund Working […]

By Doug Watt |January 15, 2004

2 min read

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IPC advisors conquer Aconcagua

(January 14, 2004) A team of advisors from IPC Financial Network has reached the summit of Argentina’s Aconcagua, the tallest mountain in the Americas. Four advisors — accompanied by two guides — reached the peak earlier this week in what was described as a “tough slog” and a “back-breaking” climb. “It was very taxing, much […]

By Doug Watt |January 14, 2004

2 min read

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Many Canadians fear outliving savings, poll finds

(January 14, 2004) A significant number of Canadians are worried they will run out of money during their retirement, according to a poll conducted for Investors Group. Not only that, but many have no idea how they want to spend their time during retirement, making it impossible to plan. “How can you achieve what you […]

By Steven Lamb |January 14, 2004

3 min read

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MFDA rethinking investor protection fund

(January 13, 2004) The MFDA is setting up a special committee to consider joining the already established Canadian Investor Protection Fund (CIPF), rather than setting up a new fund. The creation of an investor protection fund that would protect client assets in the event of a bankruptcy was mandated by regulators as a condition of […]

By Doug Watt |January 13, 2004

2 min read

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Regulatory reform goes beyond politics, Phelps says

(January 13, 2004) The provinces and the federal government must set aside their differences and accept that regulatory reform is an economic issue, not a political or constitutional issue, according to Michael Phelps, chair of the wise persons’ committee (WPC). In his first public address since the release of the WPC report, Phelps told the […]

By Steven Lamb |January 13, 2004

5 min read

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Briefly:

(January 16, 2004) The Alternative Investment Management Association of Canada (AIMA Canada) has named Lynda Briant as general manager. Briant brings experience from her past senior positions at Dow Jones Indexes, Toronto Stock Exchange and State Street Global Advisors. AIMA Canada chair Jim McGovern says Briant’s appointment “reflects the very positive industry response to AIMA […]

By Staff |January 12, 2004

7 min read

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