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Month of December 31, 2018
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From the Regulators
MFDA fines 12 former WFG Securities reps
Panel orders fines totalling $865,000
November 30, 2018

Industry News
Proposed class action against Mackenzie seeks $175 million in damages
The lawsuit has been filed on behalf of discount brokerage clients who allegedly paid excessive management fees on mutual mutuals
December 13, 2018

Industry News
Ontario decision a win for private corporations
The provincial government’s November announcement that it will not match the feds’ taxation of private corporations may result in big tax savings for small companies
December 10, 2018

From the Regulators
Raymond James fined $125,000 for overcharging clients
More than 6,000 clients in fee-based accounts were charged a higher fee than they should have been
December 17, 2018

Industry News
Mawer to remain independent
Calgary-based investment manager concludes strategic review
December 7, 2018

Industry News
Echelon acquires Dundee Securities
Veteran advisor Les Sherman makes the switch
December 14, 2018

Industry News
FPSC panel releases revised standards of professional responsibility
New “duty of loyalty” for financial planners replaces “client first” principle
December 11, 2018

Products
Equitable Bank product uses whole life insurance to fund retirement
Clients can borrow up to 90% of the cash surrender value of the life insurance policy
December 12, 2018

Industry News
IFIC offers alternative to the CSA’s proposed ban on DSC mutual funds
PMAC wants CSA to leave pooled funds out of client-focused reforms
December 14, 2018

Industry News
New TD Wealth program focused on health-care practitioners
The new service fits with the bank’s aim to serve HNW clients
December 4, 2018


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