Industry News

Scotia’s insurance play aims to gain depositors

Scotiabank is hoping its foray into Ontario’s property and casualty (P&C) insurance market will net the company a few new banking customers, said Scotiabank senior vice president and Insurance Canada head Mark Cummings. While stressing that there are currently no plans to market banking products to Scotiabank’s insurance clients, Cummings expects that some new policyholders […]

By Alex Vizer |August 27, 2009

2 min read

Briefly:

Canada’s banking regulator should license and approve all financial instruments available to investors in the country, even if they originate in the U.S., a report recommended yesterday. The report by two economists at the Canadian Centre for Policy Alternatives, a left-leaning think tank, advocated for a rapid creation of a single securities regulator to ensure […]

By Staff |August 27, 2009

3 min read

Briefly:

Global investor confidence rose by 3.5 points to 122.9 from July’s level of 119.4, while the confidence of North American institutional investors declined slightly by 2.2 points, from 120.6 to 118.4, according to results from the State Street Investor Confidence Index for August 2009. The index showed that confidence among Asian investors fell 2.3 points, […]

By Staff |August 26, 2009

4 min read

Investor advocates disappointed with POS risk disclosure

The latest proposed changes to the Canadian Securities Administrators’ (CSA) point-of-sale (POS) disclosure rules — national instrument 81-101 — further diminish, rather than enhance, the usefulness of POS documents, an investor advocate group argues. NI 81-101 is directly aimed at advisors who sell mutual funds. Under the new rule, advisors would be required to provide […]

By Mark Noble |August 26, 2009

4 min read