Industry News

Briefly:

(July 14, 2006) The MFDA has issued a permanent ban against former PFSL Investments representative Scott Andrew Stevens and fined him $61,000. Stevens must also pay costs totaling $2,000, although the association does not have the legal power to collect penalties from those no longer in the industry. The penalties come after the MFDA verified […]

By Staff |July 14, 2006

2 min read

Fee-only advisors push for improved client statements

A group of fee-only financial advisors calling themselves the Investor Awareness Project is urging investors to sign a petition, demanding brokerage firms and banks be required to issue monthly statements that include basic performance measurement statistics like annual returns and benchmark comparisons. Current reporting standards are inadequate, they say, since there is no way to […]

By Kate McCaffery |July 14, 2006

3 min read

Briefly:

(July 13, 2006) Acuity Funds has retained top spot on the list of Morningstar’s five-star mutual funds for the month ending June 30. The company has 11 five-star funds, followed by Dynamic Funds and CI Investments with eight and six, respectively. Mackenzie Financial, Altamira Investment Services and RBC Asset Management tied for the fourth place […]

By Staff |July 13, 2006

4 min read

Central bank expects smooth sailing

The Bank of Canada has released its latest Monetary Policy Report Update, assuring Canadians that the economy is unfolding as expected, despite a shift in who is buying the goods and services we produce. “There was a further shift in the composition of demand towards consumption and away from exports,” the central bank said in […]

By Steven Lamb |July 13, 2006

3 min read