Industry News

IFIC, IDA welcome proposed increase to RRSP limits as first step

(December 11, 2002) A recommendation by the House of Commons finance committee to raise annual RRSP contribution limits by nearly 50% is long overdue and a step in the right direction, according to the heads of Canada’s mutual fund and brokerage industry associations. Two weeks ago, the influential committee suggested raising limits to $19,000 from […]

By Doug Watt |December 11, 2002

3 min read

Industry

Ontario government passes tougher securities laws

(December 10, 2002) The Ontario government has passed consumer protection legislation that gives the province’s securities regulator new powers to impose fines. Bill 198, first introduced in October, was given final approval yesterday at Queen’s Park. The Ontario Securities Commission now has the authority to hand out fines of up to $1 million for securities […]

By Doug Watt |December 10, 2002

2 min read

Industry

Standing pat: Fed holds interest rate steady at 1.25%

(December 10, 2002) In its last interest rate announcement of 2002, the U.S. Federal Reserve today left its key overnight lending rate unchanged at 1.25%, a 41-year low. In a statement accompanying today’s decision, the Fed says that “robust underlying growth in productivity is providing ongoing support to economic activity,” suggesting that although further cuts […]

By Doug Watt |December 10, 2002

2 min read

Industry

Ontario advisors join petition campaign over MFDA start-up costs

(December 10, 2002) Hundreds of financial advisors in Ontario have joined a lobbying campaign to persuade provincial governments to pay the tab for launching the Mutual Fund Dealers Association. The Federation of Independent Mutual Fund Dealers (FIMFD) launched the petition drive in October, although it has pressed the issue of MFDA start-up costs for more […]

By Jim MacDonald |December 10, 2002

3 min read