By Staff | July 11, 2008 | Last updated on July 11, 2008
3 min read
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(July 11, 2008) Everyone needs advice now and again, including the Bank of Canada. The BoC announced Friday that it was hiring two university professors as special advisors.

Angelo Melino, professor of economics at the University of Toronto, and Frank Milne, professor of economics and finance at Queen’s University, will join the bank for the 2008-2009 year.

The BoC says the special advisor positions were created to “bring additional perspectives to monetary policy discussions.”

Melino will conduct research and analysis related to the bank’s monetary policy and financial system functions, while Milne will be responsible for issues surrounding the recent market turbulence.

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Registration reform lawyer joins Borden, Ladner, Gervais

(July 11, 2008) One of the key players in developing the Canadian Securities Administrators’ registration reform requirements has joined Ontario’s leading securities-focused law firms.

Marsha Gerhart, co-chair of the CSA Registration Reform Working Group, is now part of Borden, Ladner, Gervais’ Securities and Capital Markets practice.

“Marsha brings valuable knowledge of registration reform to BLG’s clients,” says Sean Weir, national managing partner of the firm. “BLG already has a deep and diverse Securities and Capital Markets practice, but these changes to registration requirements will have a dramatic impact on investment fund managers, investment advisors and dealers. Having access to counsel from a professional with Marsha’s background will be of enormous benefit in helping our clients identify important issues and potential solutions.”

As co-chair of the Reform Working Group, Gerhart was responsible for developing proposals that would streamline and harmonize registration requirements across the country.

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CLHIA unveils new travel health insurance brochure

(July 11, 2008) There’s nothing worse than paying a large American medical bill on a vacation, but finding the right health insurance can be a complicated endeavour. That’s why the Canadian Life and Health Insurance Association (CLHIA) released a new guide to travel health insurance on its website Friday.

The brochure, entitled A guide to Travel Health Insurance, includes advice and tips on how to figure out what type of health insurance is needed, what questions to ask before making a purchase and how the claims process works.

“Millions of Canadians travel every year either across the country or abroad for business or pleasure and, as we hear reported time and time again, unexpected illnesses and accidents do happen,” says Irene Klatt, CLHIA’s vice-president of health insurance. “The best way for the travelling public to protect themselves from unanticipated expenses is to make sure they obtain travel insurance before they leave.”

View the guide here.

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New report urges boards to adopt CSR

(July 11, 2008) On Friday, the Conference Board of Canada released a report that says company boards need to better integrate social and environmental issues as part of their oversight, strategic direction and reporting.

“Firms are coming to understand the importance of corporate social responsibility (CSR) and sustainability to competitive performance, but their focus on CSR at the operational level has kept these issues out of boardroom strategy,” says Coro Strandberg, author of the report.

Prem Benimadhu, vice-president of Governance and Human Resource Management, says that boards are considering CSR more often than ever before. “This trend is driven by the growing CSR business case and by institutional shareholders with long-term investment horizons,” he says.

The report lists a 12-step roadmap to help boards implement CSR into their daily routine. The program has two stages — stage one assists boards that are just starting to develop their governance framework, while stage two is for companies who want to delve deeper into their CSR practice.

(07/11/08) staff


The staff of have been covering news for financial advisors since 1998.