Industry News

Briefly:

(May 21, 2004) The six-month grace period for mutual fund dealers and salespersons with clients in provinces where they are not registered has expired, the MFDA said in a bulletin issued today. The MFDA issued a regulation notice on out of province registration last October, requiring dealers and salespersons to address the situation by either […]

By Staff |May 17, 2004

5 min read

Regulators approve IDA anti money laundering measures

(May 17, 2004) Provincial securities regulators have rubber-stamped an IDA policy that requires increased disclosure of offshore account ownership. The move is an attempt by the brokerage industry association to combat international money laundering. Under the new policy — an amendment to the IDA’s “know your client” requirements — member firms must identify the beneficial […]

By Doug Watt |May 17, 2004

2 min read

Income, balanced funds top April sales

(May 17, 2004) The Canadian mutual fund industry continued to post strong sales in April, as investors pumped $1.7 billion in new cash into the market, according to IFIC. “Net sales are the strongest for an April since 1998. Sales for the first four months of 2004 totaled $12.3 billion, compared with $8.8 billion in […]

By Steven Lamb |May 17, 2004

3 min read

Advocis offers B.C. advice on advisor incorporation

(May 14, 2004) With regulators in British Columbia considering a plan to allow advisors to incorporate, Advocis is offering suggestions as to how the program might work, including some stiff entry requirements. The British Columbia Securities Commission (BCSC) is mulling over the creation of a new advisor registration category for “independent owner operators.” Details are […]

By Doug Watt |May 14, 2004

2 min read