The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
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The best GIC rates in Canada for 2024 Jul 16th
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The best GIC rates in Canada
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The close: TSX gains as miners benefit from higher commodity prices
– theglobeandmail.com
S&P 500 ekes out gain while banks drag on Dow
New investment disclosures lack detail
– moneysense.ca
New disclosure rules promised to provide investors more clarity on performance, charges and fees, but some financial institutions have decided to provide only the minimum information required.The new regulatory requirements are laid out in CRM2, the second phase of the Client Relationship Model adopted by the Canadian Securities Administrators. Under these rules financial institutions must now provide investors with two new reports. These reports are separate from the portfolio statements investors already receive and view online. While portfolio statements dazzle with tables and charts to illustrate performance, they leave out some crucial information. The new mandate attempts to fill in the gaps with one report focusing on performance and the other summarizing charges and compensation.
.cbR{box-sizing:border-box;display:block;width:100%;margin:1em 0;border:1px solid #bbb;padding:.5em}@media (min-width:480px){.cbR{width:250px;margin:0 0 1em 1em;float:right}}Clearer portfolio reports are coming, but will it stop dumb investment errors
The new rules state that financial institutions, like banks and discount brokerages, only have to provide investors with a one-year personal rate of return this year, regardless of how long the account has been open…
