Turning 60 just got a little easier. The 2007 Federal Budget rolled out three key tax measures that are designed to allow retirees to ease into retirement and lower their tax burden once they’re finally out of the workforce. The key changes mentioned in the budget include raising the age limit where Canadians have to […]
A few weeks back, the talk of the land was China and its decision to slow its growth rate. Markets tumbled and then cautiously crawled higher. The latest concern is with the stability of the sub-prime lending market n the U.S., and markets have again begun to crumble. Canada was sideswiped by the first shock […]
Few advisors have likely made it all the way through the 138-page tome that is National Instrument 31-103, better known as registration reform, but the Toronto law office of Torys is encouraging all advisors to do their homework on this one. “We were a little taken aback when we read this instrument,” Marlene Davidge, a […]
After receiving considerable dealer input, the Universal Market Integrity Rules are ready to accommodate the introduction of multiple marketplaces. The same can’t be said for Pure Trading, the new market that precipitated the rule changes in the first place, which has delayed its launch for the second time. Pure Trading was due to hard-launch on […]
(March 2007) The insurance industry is in trouble. Brokers are getting older, new entrants to the industry are scarce, products are becoming more complicated, and those left to decipher them in the sunset of their careers don’t care to learn them. Demographers have a word for it: bust. This is neither sustainable nor healthy for […]
When John Sliter assumed the helm of the RCMP’s Integrated Market Enforcement Team, he had grand expectations. Initially IMET said it would load up 10 investigators per file in the hope of completing investigations within a year. It was known as the 10-to-one rule. Now the superintendent and director of the RCMP IMET says he […]
Less than six months away from retirement, Joe Oliver is in a mood to speak a little more candidly about the investment industry he oversees, noting that Canada’s regulatory structure isn’t broken — it just needs fixing. “I have repeatedly said that a viable alternative to a national securities commission is a fully integrated model,” […]
The income trust sector is still down 9% from Oct. 31, the night investors shuddered as Ottawa announced its intention to tax trusts. But Ken Manget, a managing director at BMO Capital Markets, says it was only a matter of time before a correction hit. Most of the trusts that have been taken out of […]
The Investment Dealers Association of Canada will defend its right to impose sanctions on members after they have left the industry in a Saskatchewan courtroom on March 12. The IDA is appealing a Saskatchewan Financial Securities Commission panel decision involving Wade MacBain, Karl Neufeld and Fred Smith. The original case set out to resolve two […]
Taxpayers in Quebec and British Columbia were showered with tax breaks this week as both provinces presented their budgets. Of course, it will be up to Quebec taxpayers to determine if the tax savings get passed as Premier Jean Charest promptly dropped an election writ after tabling the budget. If passed, the Quebec budget will […]