Industry News

Independent agents better able to cope with brokerage downturn, but OSC still says no

(March 6, 2003) Traditional brokerage firms are getting walloped as retail trading declines and investors prove loathe to put new money into mutual funds. Despite that, Raymond James finds its U.S. brokers are faring well. A major reason is that most of them are cost-conscious independent contractors, something that still isn’t allowed in Canada. The […]

By Scot Blythe |March 6, 2003

4 min read

Industry

IFIC calls for NRD fee reduction

(March 6, 2003) The Investment Funds Institute of Canada wants regulators to reduce the first annual fee for the National Registration Database, scheduled to launch at the end of the month. IFIC says the Canadian Securities Administrators plans to collect a full year of fees for 2003 on May 30, even though the database will […]

By Doug Watt |March 6, 2003

2 min read

Industry

RRSP season brings lower contributions, advisors report

(March 5, 2003) “Slow and low.” That’s the succinct phrase Denzil Feinberg of Feinberg Financial in Winnipeg uses to describe this year’s just-completed RRSP season. While not all advisors report the same experience, there’s no question that weak markets have put a dent in contribution levels for 2002. Yesterday, the Investment Funds Institute of Canada […]

By Doug Watt |March 5, 2003

3 min read

Industry

Industry groups welcome

(March 5, 2003) Industry groups are applauding federal Finance Minister John Manley’s appointments to a wise persons committee, mandated to examine ways to reform the country’s fragmented system of securities regulation. The committee will be chaired by Vancouver-based Michael Phelps, chair of Dornoch Capital and the former head of Westcoast Energy. Saskatchewan securities lawyer Harold […]

By Doug Watt |March 5, 2003

2 min read