Industry News

Briefly:

(November 25, 2005) Clarington’s refusal to consider a takeover proposal by CI Financial flies in the face of Clarington’s own definition of what constitutes a “competing transaction,” according to the spurned suitor. Clarington has declined to consider the bid, saying it was a non-binding proposal and has endorsed a similar takeover bid from Industrial Alliance […]

By Staff |November 21, 2005

13 min read

IDA bans brokers in Toronto, Vancouver

(November 21, 2005) A Toronto broker who was involved in a locked-in RRSP scam has been banned by the IDA for five years and must pay a $100,000 fine if he chooses to rejoin the industry. In a separate decision, a Vancouver broker was fined $30,000 and suspended for one year in a case involving […]

By Doug Watt |November 21, 2005

3 min read

Building client loyalty pays off: survey

Most advisors know it is important to have a strong relationship with their clients. But a recent white paper published by Dow Jones Newswires says it’s even more critical than most advisors realize, especially in the high net worth sector. According to the paper, loyal clients are much, much more inclined to give additional assets […]

By Mark Brown |November 21, 2005

3 min read

Regulators issue passport model update

The 12 Canadian provinces and territories who have signed on to the passport model have released a progress report on their continuing efforts to harmonize the country’s securities regulations. The model became effective on September 19, 2005, giving participants access to markets in multiple jurisdictions simply by dealing with the rules of their principle, or […]

By Doug Watt |November 18, 2005

2 min read