Industry News

Industry defends fund-only registration

(September 24, 2004) The Canadian mutual fund industry has come out swinging in response to a suggestion from Ontario’s securities regulator that the fund-only registration category may have outlived its usefulness. In a discussion paper released this summer citing investing protection concerns regarding certain business arrangements between MFDA and IDA dealer firms, such as omnibus […]

By Doug Watt |September 24, 2004

3 min read

Securities revenues pullback in second quarter

(September 23, 2004) Lacklustre equity markets took a chunk out of securities industry revenues in the second quarter, the IDA reports. Particularly hard hit were underwriting fees, although commission revenues from mutual funds and stock trading also suffered a decline. While operating profits slumped 30% on the back of a 9% decline in revenue after […]

By Scot Blythe |September 23, 2004

2 min read

Seniors’ group calls for fund industry overhaul

(September 23, 2004) Advisors should annually update “know your client” (KYC) forms and provide complete information on fund fees and compensation to clients on request, says a report from CARP, Canada’s Association for the Fifty-Plus. That’s just one suggestion from a 20-page report that takes the fund industry to task and makes numerous recommendations for […]

By Doug Watt |September 23, 2004

3 min read

Don’t limit foreign ownership, says income trust group

(September 22, 2004) The federal government’s move to restrict non-resident ownership of income trusts is an unnecessary measure that will severely hamper Canadian trust access to equity capital, according to a group representing income funds. According to a study commissioned by the Canadian Association of Income Funds (CAIF), the current rules laid out in the […]

By Staff |September 22, 2004

2 min read