Industry News

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(May 30, 2003) Financial commentator Brian Costello says he will go to the courts to appeal a sanctions decision against him announced last month by the Ontario Securities Commission (OSC). Costello was reprimanded and ordered to pay $300,000 in costs after an OSC panel ruled he had violated securities laws by failing to register as […]

By Staff |May 26, 2003

5 min read

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Crisis or wake-up call? Experts debate state of pension industry

(May 26, 2003) The numbers aren’t good, but it’s probably too soon to declare a crisis in Canada’s defined benefit pension system. However, the industry does need to improve the ways it manages risk within pension plans. Those were the main conclusions from a one-day forum in Toronto last week, sponsored by the Association of […]

By Caroline Cakebread |May 26, 2003

3 min read

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More than principle: David Brown explains why Ontario regulator needs to adopt rules

(May 23, 2003) In a post-Enron world, securities regulators must address corporate governance in a robust manner and propose reform, says Ontario Securities Commission (OSC) chair, David Brown. In a speech today given at the Toronto Board of Trade in downtown Toronto, Brown expressed that governing principles — a Canadian tradition — are no longer […]

By Jennifer McLaughlin |May 23, 2003

3 min read

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Advisors bullish on equities, online survey suggests

(May 22, 2003) Canada’s financial advisors expect a summer stock market rally and are adjusting their asset allocations to reflect that, according to a survey conducted earlier this month by The ADVISOR Group. Related News Stories Filed by Doug Watt, Advisor.ca, dwatt@advisor.ca (05/22/03)

By Doug Watt |May 22, 2003

2 min read

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More predictable rates of return could help advisors if BoC stays on course

(May 22, 2003) Financial advisors can expect a little smoother sailing — or at least a clearer idea about where the rate of return winds are taking their clients’ portfolios — if Paul Jenkins and the Bank of Canada make good on their inflation targets. Speaking this morning at the Economic Club of Toronto, the […]

By Art Melo |May 22, 2003

2 min read

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Cartier Partners up for sale as Caisse pulls out

(May 22, 2003) The parent company of Cartier Partners Financial Group is putting the fund dealer up for sale. The move comes in the wake of a decision by the Caisse de dépôt et placement du Québec to divest its stake in Cartier. “The Caisse has decided to shift direction and focus on investments where […]

By Doug Watt |May 22, 2003

2 min read

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(May 23, 2003) Peak Financial has introduced new back office systems to ease the transition of independent advisors from one dealer to another. It has added Winfund to its Integra back office platform, which includes RPM Technology (RPM) and CTA Systemsource (MPS). “It is important for planners to reduce the non-productive time during the transition […]

By Staff |May 21, 2003

4 min read

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Pension regulator warns plans to make sure benefits are affordable

(May 21, 2003) Acknowledging the devastation falling stock markets have wreaked on many employee pension plans, Canada’s top financial regulator says that plan sponsors and members must ensure they can pay for pension improvements, and he also feels the federal superintendent should have the power to roll back unaffordable enhancements. “As a pension regulator, I […]

By Scot Blythe |May 21, 2003

3 min read

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Brokers get green light to set up independent shops

(May 21, 2003) A long-awaited rule change allowing independent agents in the securities industry is now in effect. The principal-agent bylaw permits IDA member firms and their representatives to enter into non-employee-employer relationships, similar to the mutual fund and insurance industries. Under the old rules, brokers had to be employees of their firms. Peter Bailey, […]

By Doug Watt |May 21, 2003

3 min read

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Investment managers’ earnings decline as bonuses dry up, survey concludes

(May 20, 2003) Canadian investment managers are earning an average 30% less than they did two years, and nearly 50% less than their American counterparts, according to data compiled by the Association for Investment Management Research (AIMR). Median compensation in Canada for investment professionals was $75,805 US in 2003, compared to $108,000 US in 2001, […]

By Doug Watt |May 20, 2003

2 min read

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