Industry News

Ontario regulator to investigate viatical company

(October 29, 2003) The Ontario Securities Commission (OSC) is set to resume its stalled investigation of Universal Settlements International (USI) — a viatical settlements company based in Waterloo, Ontario — following a favourable decision by the province’s divisional court. USI argued that since it is not registered under the Securities Act, and does not sell […]

By Doug Watt |October 29, 2003

3 min read

Insurers report record profits

(October 28, 2003) Two of Canada’s largest life insurance companies are reporting record third-quarter profits. Manulife Financial today reported net income of $396 million, a 21% increase from the same period last year. Sun Life Financial posted a $394 million profit, up 9% from 2002. Both firms cited rising equity markets and higher sales as […]

By Doug Watt |October 28, 2003

1 min read

R.F.P.s to join CFPs in following practice standards

(October 28, 2003) Adherence to practice standards will soon be a requirement for holders of the Registered Financial Planner (R.F.P.) designation. Hot on the heels of a similar project by the Financial Planners Standard Council (FPSC) — promoters of the CFP designation $#151; the Institute of Advanced Financial Planners (IAFP) has released its own set […]

By Doug Watt |October 28, 2003

3 min read

Briefly:

(October 30, 2003) The MFDA says its compliance review process has uncovered cases of fund dealers working with clients in jurisdictions where the dealer is not registered. The MFDA says fund dealers must obtain registration in all provinces and territories where clients are located, regardless of where the client was when the account was opened […]

By Staff |October 27, 2003

6 min read