Investor statements are getting clearer, they look better and they provide more relevant information, but they still have room to improve according to research firm Dalbar’s 2006 Mutual Fund Investor Statement Analysis. Since the firm’s last survey two years ago, the industry has made several improvements to their investor statements, says Mark McDonald, Dalbar’s manager […]
The IDA will seek restitution from brokers and firms based on a new established set of criteria, Joe Oliver said on Monday in a speech to the Canadian Club of Toronto. Also top of mind for the IDA president was the recently announced plan to merge the IDA with market regulator RS. While approved in […]
The New Brunswick Securities Commission is warning investors across Canada, but particularly New Brunswickers, about an investment scheme that appears to be the work of a serial scam artist. The NBSC issued an investor alert and a temporary cease-trade order against First Global Ventures S.A. and Al Grossman on Thursday after the respondents were found […]
A year after ‘retiring’ from Mackenzie Financial. Jim Hunter has returned to the industry. He’s not back for another kick at the same can; he’s back to reshape the ways funds are structured. But will anyone understand what he’s trying to do? Hunter is aiming to design products to alleviate the annual tax burden associated […]
Jonathan Wellum is only on the fifth stop of a two-week, 11-city road show selling AIC’s two newest sub-advisors, yet the fund company’s chief investment officer’s voice was already hoarse as he addressed a small group of financial planners recently in downtown Toronto. It’s been a long trek for Wellum, but an even longer few […]
If you have a client selling a house anytime soon, you might want to tell them to push their closing date to July 1. As expected the Conservatives cut the GST to 6% in Tuesday’s federal budget. The reduction to the GST represents 33% of the tax relief from the $26.2 billion in cuts across […]
With the shine on gold in April it’s tempting to turn a blind eye to how the falling greenback has cut into Morningstar Canada’s fund indices. But for some sector specific funds, the 4% depreciation of the U.S. dollar meant those cuts were swift and, in some cases, deep. According to Morningstar Canada’s preliminary figures, […]
Independent Financial Brokers is developing a plan to allow insurance agents, brokers and managing general agencies in Ontario to voluntarily return fees paid to them by Portus Alternative Asset Management. The proposal will follow an agreement struck earlier this year between the Ontario Securities Commission, the IDA and MFDA. In January, 57 investment and mutual […]
And then there were two. The Investment Dealers Association and Market Regulation Services have announced a plan to merge into a single self-regulatory organization to oversee the country’s brokerages and stock markets. The plan, which is still subject to various regulatory approvals and the blessing of their memberships, is built on the ashes of a […]
For the sixth consecutive time, the Bank of Canada has raised the overnight lending rate 25 basis points, to 4%, hinting more increases may be needed. “Some modest further increase in the policy interest rate may be required to keep aggregate supply and demand in balance and inflation on target over the medium term,” the […]