Industry News

Tighter monetary policy to reduce asset returns: Economists

(December 16, 2004) Thanks to a global economic expansion of 5%, 2004 has been the strongest in the past 30 years. While growth is expected to decelerate in 2005, it will likely still be above trend, says Clément Gignac, chief economist at the National Bank of Canada. Gignac’s was one of a sheaf of reports […]

By Scot Blythe |December 16, 2004

3 min read

Brokerages hit with $41 million in penalties

(December 16, 2004) Three Canadian bank brokerage firms have been penalized more than $41 million by the IDA for mutual fund market timing violations. It’s the largest penalty decision ever issued by the brokerage industry association. The penalties, described by an IDA panel investigating the matter as “very substantial,” were announced Thursday afternoon in Toronto, […]

By Doug Watt |December 16, 2004

3 min read

AIC settles with Ontario regulator

(December 15, 2004) Mutual fund firm AIC has reached a settlement with the Ontario Securities Commission over allegations related to market timing. The Burlington, Ont.-based firm is the last of four firms publicly named by the OSC to reach a deal. Investors Group, AIC, AGF and CI will appear before an OSC panel on Thursday. […]

By Doug Watt |December 15, 2004

2 min read

Fund sales start RSP season on a high note

(December 15, 2004) The beginning of RRSP season helped boost mutual fund sales in November, with net sales of long-term funds hitting their highest point since April 2004, according to the latest data from IFIC. “Net sales for long-term funds for the month of November were $1 billion,” said Tom Hockin, president and CEO of […]

By Steven Lamb |December 15, 2004

3 min read