Industry News

Briefly:

(July 16, 2008) Quebec’s Autorité des marchés financiers is defending its turf before the Expert Panel on Securities Regulation, dubbing the call for a single regulator “a needless proposal.” Waiting until the final day for comment, the AMF claims that the current regulatory regime is adequate, because the securities market is small, yet spread over […]

By Staff |July 16, 2008

3 min read

Feds loosen death rules for TFSA

As excited as advisors got when the tax-free savings account (TFSA) was introduced in the March 2008 federal budget, the legislation wasn’t perfect. Thanks to new amendments made by the Conservative government, however, some of the TFSA’s flaws have been fixed. One concern advisors and tax experts had in March was related to the laws […]

By Bryan Borzykowski |July 16, 2008

3 min read

Wellington West settles Crocus claim

Wellington West Capital has agreed to a $500,000 out-of-court settlement with unitholders of the now defunct Crocus Investment Fund, in exchange for being dropped as a defendant in a $200-million class action suit. The agreement removed a “major impediment” to asking the court’s permission to give money back to about 34,000 shareholders, according to Russ […]

By Renée Alexander |July 16, 2008

2 min read

Briefly:

(July 15, 2008) The Bank of Canada held steady on its trend-setting overnight rate, maintaining its target of 3.00% for the key rate. The operating band remains unchanged, as does the bank rate, at 3.25%. The Bank pointed to continued weakness in the U.S. economy and “ongoing turbulence in global financial markets” as factors in […]

By Staff |July 15, 2008

3 min read