Industry News

Reaction mixed to Advocis

(February 21, 2003) A recent call for more co-operation in the financial services industry from Advocis, Canada’s largest professional association of advisors, has produced a mixed bag of responses from other associations and advisors. The head of the fledgling Canadian Institute of Financial Planners says he thinks Advocis wants to get rid of all other […]

By Doug Watt |February 21, 2003

3 min read

Costello, fund redemptions stir Talvest Town Hall

(February 21, 2003) Advisors weighed in on both sides of the Ontario Securities Commission’s ruling that prominent financial commentator Brian Costello gave advice without being licenced. While some thought the OSC was overextending its reach, others called for even tighter scrutiny of unlicenced commentators. “This kind of decision will give them further proof that they […]

By Scot Blythe |February 21, 2003

3 min read

Political leadership missing from reform debate, says IDA president

(February 20, 2003) “Calls for regulatory reform to boost investor confidence in the U.S. are echoing throughout Canada and around the world,” says Investment Dealers Association president Joe Oliver. But if Canada is going to reform its fragmented system of securities regulation, political leaders must step up to the plate to champion the cause, Oliver […]

By Caroline Cakebread |February 20, 2003

3 min read

Costello gave advice without being registered, OSC panel rules

(February 19, 2003) Brian Costello violated the Ontario Securities Act by not registering as a financial advisor, a three-member panel of the Ontario Securities Commission has ruled. The panel also decided that the popular financial commentator failed to disclose numerous conflicts of interest. A ruling on possible sanctions against Costello will be announced following submissions […]

By Doug Watt |February 19, 2003

3 min read