It’s another sure sign of a recession. Clients are filing a lot more complaints, according to numbers from both the Investment Industry Regulatory Organization of Canada (IIROC) and the Ombudsman for Banking Services and Investments (OBSI). For its part, OBSI reports complaints have more than doubled in two years. In fiscal 2008, the office opened […]
We’re deep in the woods, and many crystal ball polishers are pining for old times. The most daring are calling for a return to happy days by the end of this year. But those ball gazers are just looking for the next bubble, so they’re best ignored. Anyone predicating a business model on consumer spending […]
Go out and buy computers. That was the Tory government’s clearest message to business owners in its 2009 budget released today in Ottawa. Included in the specifics is a 100% capital cost allowance (CCA) for computers bought between January 27 of this year and February 1, 2011. “It’s rather exciting, especially if you have computers […]
Times are tough. And they’re going to get tougher. And in these desperate times, some will turn to desperate measures. Identity theft, already an established criminal enterprise thanks to the placing of so much customer data on hard drives and the ability to use the Internet and search for people’s particulars, is bound to increase […]
It remains to be seen whether Canada will follow the Securities and Exchange Commission’s lead by adopting rules to govern indexed annuities as securities products, but the idea of stricter rules for the instruments has piqued some interest. “Regulation of variable annuities by securities regulators and the requirement of a securities licence is something that […]
In a shot that will no doubt be heard beyond the U.S. borders, the Securities and Exchange Commission voted earlier this month to begin regulating indexed annuities as securities products. Indexed annuities promise purchasers a fixed payout, but that sum can increase based on the performance of the underlying securities portfolio. The December 17 Commission […]
The arrest of Bernard Madoff serves as a reminder that fraud can lurk in the most respectable of packages. Many of the securities industry illuminati commenting on the case, in fact, refer to Madoff as “Bernie.” There was genuine surprise that the former Nasdaq chair could have been up to anything. Not Bernie. No way. […]
Canada is changing. I took my oath of citizenship two months ago, and the judge who presided over the ceremony pointed out the 83 of us assembled hailed from 67 different countries. A Brazilian man in front of me brought along a large Canadian flag and asked all of us to sign it as a […]
We have a ritual in my household. Every time a credit card company sends one of those sets of blank cheques and a letter promising the opportunity to buy anything our hearts desire, we do an impromptu dramatic reading. One of us will hold up the letter and recite, “Dear Mr. Porado, it has come […]
Latté or buzz juice? Health drink or tea? A client’s choice speaks volumes about the generational landscape.