Home News Industry News Page 23

Latest news in Industry News

woman stressed over uneasy stock market

Canadians report financial security concerns as inflation hammers savings

RBC 2023 Financial Flexibility Poll finds that 77% of survey respondents say they would like to save more but can't

  • By: IE Staff
  • September 20, 2023 September 20, 2023
  • 11:48
new label

FSRA publishes final fee rule for its sectors

The rule includes the regulator's fee calculations for credentialing bodies

  • By: IE Staff
  • September 19, 2023 September 19, 2023
  • 16:29
Bank Of Montreal Branch stock photo

BMO to shutter retail auto finance business as bad debt mounts

The bank's provisions for credit losses in its retail line rose 800% to $81 million last quarter

Lawyers temporarily exempted from CRA’s mandatory disclosure requirements

The Federation of Law Societies of Canada argued that the new regime violates the Charter of Rights and Freedoms

Ottawa to remove GST on new rental housing, extends CEBA loan deadline

The federal government also is calling on grocers to stabilize prices

U.S. currency

Yellen details tighter scrutiny of investment plans of foreign owned companies operating in the U.S.

Treasury secretary says Committee on Foreign Investment is adapting to a changing global economy

Oil drilling investing

Major life insurers taking steps, but falling short on climate action: report

Sun Life Financial Inc. and Manulife Financial Corp. are Canada's first and fourth-largest fossil fuel investors

Edward Jones tries out teams

The brokerage hopes to boost more than the bottom line by introducing multi-advisor offices

  • By: Katie Keir
  • September 14, 2023 September 14, 2023
  • 12:54
Laurentian bank logo on building

Laurentian Bank shares fall as it concludes review without deal to sell

Montreal-based bank said it will stick with its current business plan, with an increased focus on efficiency

AIMCo opens first Asia office in Singapore, remains leery of China

CEO Evan Siddall says the fund manager is under-represented in Asia

Rideau Canal in Ottawa with view of Parliament buildings

Does the underused housing tax apply to 24 Sussex Drive?

The Canada Revenue Agency's extended deadline to file a UHT return and pay any tax is approaching

Updated tax-avoidance proposals include new penalty

Tax lawyers express concerns about overreach as Ottawa proposes to revamp the general anti-avoidance rule

Exterior of CRA headquarters building

CRA offers minor relief on reportable transactions

The 90-day deadline for the first mandatory disclosures under the new law is Sept. 20

New alternative minimum tax regime to raise $2.6B: PBO

Canadians making above $300,000 to contribute 98% of total AMT

IRS tax

IRS plans crackdown on 1,600 millionaires to collect back taxes

Artificial intelligence is playing a big role in identifying wealthy tax dodgers

U.S. Canada flag

Don’t jump hastily into Canada’s cross-border advice market

More wealth firms have entered the U.S.-Canada cross-border space in recent years. But are they ready?

  • By: Katie Keir
  • September 7, 2023 September 7, 2023
  • 18:31
Graphic of Europe

Poland bank governor says large interest rate cut justified by falling inflation

The central bank cut its reference rate from 6.75% to 6%

Canadian 100 Dollar banknotes being printed

Bank of Canada may need to raise rates again, despite this week’s hold: Macklem

In a speech on Thursday, BoC governor said reining in inflation is the best way the central bank can support the economy

FSRA revokes licence of life agent who sold repeat policies

Alleged misconduct included untrustworthiness, fraud and deception

  • By: IE Staff
  • September 7, 2023 September 7, 2023
  • 15:53
Judge looks at papers

Former FTX crypto executive pleads guilty to making millions in illegal U.S. campaign contributions

Exec is the fourth high-ranking official at the company or its affiliates to plead guilty to criminal charges

a man on a precipice

Help clients find lost bank accounts and insurance policies

Although there are tools to help, financial advisors still say it’s best to maintain updated information

  • By: Jonathan Got
  • September 1, 2023 September 27, 2023
  • 15:00
Exterior of CRA headquarters building

120 CRA employees fired for claiming Covid benefits while employed

The CRA said in July that it had let 20 employees go as a result of its CERB investigation

RBC takeover of HSBC Canada approved by Competition Bureau

Nonetheless, the bureau found evidence of several instances when HSBC Canada’s lineup had influenced RBC’s offerings

CRA signage

CRA extends deadlines for taxpayers affected by wildfires

Relief of penalties and interest may also be available to affected people and businesses

  • By: IE Staff
  • September 1, 2023 September 1, 2023
  • 09:56

CIBC profits down on higher loan loss provisions after revised economic outlook

Full-time employee equivalent count was down 1,709 from Q4 of 2022