Industry

Briefly:

Despite a challenging environment, sales of variable annuities in the U.K. fell by only 7% in the second quarter of 2009, according to research from Watson Wyatt. Second quarter variable annuity sales in the U.K. were £343.7 million, down from £370.2 million in the first quarter. Q2 2009 sales matched those achieved in the last […]

By Staff |August 20, 2009

2 min read

Briefly:

The Financial Services Commission of Ontario has named Philip Howell as the new CEO and Superintendent of Financial Services for the organization, effective August 19, 2009. Prior to the appointment, Howell served as the Deputy Minister of Economic Development for the Ontario government, and has held previous roles including Deputy Minister of Tourism. He holds […]

By Staff |August 19, 2009

2 min read

Briefly:

Foreign investors bought $10.5 billion in Canadian securities in June, with the total spread across debt, money market and equity issues. Canadian bonds attracted $5.5 billion in foreign investment, splitting that amount between new and existing issues. Secondary market purchases of federal debt totalled $5.3 billion, while provincial bonds were sold off to the tune […]

By Staff |August 18, 2009

4 min read

Australian CFPs forced to abandon trailers

Pretty soon, financial planners who are members of the Financial Planning Association (FPA), which administers the Certified Financial Planner designation in Australia, will have to give up the practice of receiving a trailing commission from investment product providers if they wish to continue membership. According to news reports, under the FPA proposal, members holding themselves […]

By Mark Noble |August 18, 2009

4 min read