Industry News

CDIC aims to increase awareness

The Canada Deposit Insurance Corporation (CDIC) has launched a national public awareness campaign, primarily to remind Canadians that eligible deposits are now covered up to $100,000. This amount was raised from $60,000 in the 2005 federal budget. “It’s simple: Canadians need to know the facts about deposit insurance so they can make informed financial decisions,” […]

By Staff |November 25, 2005

1 min read

IDA fines Research Capital and CEO

It has been a busy week for the IDA’s enforcement division. Since Monday, it has doled out more than $400,000 in fines and a total of seven years in suspensions, as well as one lifetime ban. The latest in a string of disciplinary actions came Friday when the IDA fined Research Capital and its CEO […]

By Mark Brown |November 25, 2005

3 min read

Credit Check: Smarter holiday spending

At this time of year, it’s not just advisors who are spreading the message of prudent festive spending. MasterCard Canada is also urging Canadians to practice caution and plan before heading to the malls this holiday season — especially when they’re carrying plastic. According to the credit card company’s vice-president of public affairs, Jennifer Reed, […]

By Heidi Staseson |November 25, 2005

4 min read

CRA shouldn’t trust trust tax returns: Auditor General

Auditor General Sheila Fraser’s quarterly report, released this week, had two items of concern to advisors: whether trusts — not income trusts, but inter vivos and testamentary trusts — are properly reporting their income, and whether the CRA has kept track of RSP overcontributions. While Canada’s tax system is based on self-assessment — individuals report […]

By Scot Blythe |November 24, 2005

4 min read