Industry News

FAIR Canada favours banning embedded commissions to meet best interest standards

The Canadian Foundation for the Advancement of Investor Rights (FAIR Canada) is asking the CSA how firms will follow conflict of interest requirements and still meet best interest standards given compensation methods such as embedded commissions. In an open letter to the CSA, FAIR Canada says the best way to implement a best interest standard […]

By Staff |August 31, 2018

2 min read

National Bank reports 10% increase in Q3 profit over last year

National Bank has reported an increase in third-quarter profit of 10% year over year, with growth across all business segments. The bank’s net income for the quarter ended July 31 was $569 million, up from $518 million from the same quarter last year. The quarter’s diluted earnings per share were $1.52 compared to $1.37 in the third quarter […]

By Staff |August 29, 2018

2 min read

CFIQ re-elects chair, makes appointments

The Conseil des fonds d’investissement du Québec (CFIQ), the Quebec voice of IFIC, has re-elected Stéphane Blanchette as its chair. Blanchette is executive vice-president, chief compliance officer and chief financial officer at Investia Financial Services. He was re-elected for the third consecutive year. Elected as second vice-chair is Johanne Blanchard, vice-president and legal counsel at Investors Group Financial […]

By Staff |August 29, 2018

1 min read

Desjardins reduces management fees for several funds

Desjardins Investments is reducing management fees for several funds. The reductions, ranging from three to 21 basis points for a majority of unit classes of 28 funds, are effective Oct. 1. Find all the reductions on the Desjardins website. Also read: How client awareness of CRM2 benefits advisors Wealthsimple announces zero-commission stock-trading service IIROC suspends […]

By Staff |August 29, 2018

1 min read