Industry News

Scotia McLeod reinvents the branch

The future is low tech, or so says Scotia McLeod, which has been experimenting with a new way to streamline routine administrative and compliance tasks within its branches. Adding staff, not technology, is the simplest and surest way to improve branches’ efficiency, say those involved in the program, which involves downloading and centralizing all of […]

By Mark Brown |January 4, 2007

3 min read

Briefly:

(January 3, 2007) The IDA has levied a fine of $50,000 and a five-year suspension against Anthony Zarkadoulas, a former registrant who worked in the Thornhill, Ontario, branch of CIBC Investor Services. In a settlement agreement, Zarkadoulas admitted to engaging in conduct unbecoming, contrary to By-law 29.1, when he transferred funds from one client’s account […]

By Staff |January 3, 2007

3 min read

Precious metals shine through 2006

Soaring commodity prices and a flurry of consolidation activity in the mining sector fuelled stellar returns for investors holding precious metals funds in 2006, according to preliminary year-end data from Morningstar Canada. The Morningstar Canada Precious Metals Equity Fund index posted a full-year gain of 49.9% — despite a 2% decline in December — as […]

By Steven Lamb |January 3, 2007

3 min read

2006 fund sales expected to come in at $21 billion

December capped off another strong year for mutual fund sales in Canada, according to preliminary data from IFIC. Net sales for the month are expected to be between $3 billion and $3.5 billion, compared to $1.7 billion in December, 2005. If the numbers hold up when IFIC releases its final tally later this month, net […]

By Doug Watt |January 3, 2007

2 min read