Family Allowances: Towards a Modulation Based on Income

September 12, 2014 Category :FAMILY BUDGET 0

An amendment was tabled in favor of a variety of family allowances based on family income, according to the government, replacing the premium reduction from birth to the second child. Parliament must discuss and vote on the reform in the coming weeks.

Upon filing of the bill funding the Social Security 2015, September 29, two measures related families have been proposed:

Family Allowances Towards a Modulation Based on IncomeThe baby bonus divided by three from the 2nd child (modulation of the baby bonus depending on the rank of the child);
and the increase in family allowances delayed by 14-16 years.
During the parliamentary debate, the Socialist deputies and the rapporteur of the Committee on Social Affairs for the family branch, Marie-France Clergeau, proposed to replace these measures another method of reform, based on “the progressive reduction of the amount of allowances based on income “family.

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PERP a Tool for Retirement Planning

September 5, 2014 Category :INVESTMENT 0

Nearly seven in ten believe that assets constitute retirement savings is important (49%) or important (20%). Only 30% of respondents think it is secondary.
The closer you get to the age of retirement, plus interest for a dedicated savings is strong. Thus, 31% of people over 55 consider this type of important savings.

PERP a Tool for Retirement PlanningMeanwhile, 44% of respondents said that the establishment of a retirement savings is significant or crucial express an interest in the PERP.

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Euro-Growth: The “Third Pillar” of the Life Insurance

August 24, 2014 Category :INVESTMENT 0

Funds or contracts are Euro-growth media in euro, the capital guarantee is not permanent (as is the case for the “classic” euro money), but defined by the contract deadline that can not be less than eight years from the date of first payment. The goal here is to allow the insurer to better diversify its assets to perform better at the end.

Life Insurance However, the decree states that “a contract may provide that the capital guarantee at maturity may be less.” This is called partial guarantee. Investors should be careful, because then there is a real risk of loss (even slightly) in capital. This is also the case if the investor has, for one reason or another, recover its before the deadline set in the contract to qualify for the capital guarantee.

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FRAUD BY CHEQUE – ENDORSEMENT

August 19, 2014 Category :BANKING 0

MC was the owner of a retail auto parts and hired an administrative assistant responsible for payroll, reconciling bank statements and other accounting functions. This employee embezzled $ 80,000 over a period of 4 years; it was issuing business checks in his name or to others, then went to the ATM to the bank to deposit in his personal account.

She had hidden transactions direction by changing the financial records of the company. In an independent audit, MC discovered the fraud, and the employee has pleaded guilty to the criminal charges against her.

MC asked his bank (the same as the employee) to refund the money that was stolen. Although he admitted he should have been more vigilant and monitor the finances of his business, MC felt that the bank had a responsibility because she had not checked the endorsement checks. According to him, if the bank had attempted to verify the endorsement, the fraud would have been discovered earlier and losses would have been smaller.

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INVESTMENT PORTFOLIO – KNOW YOUR CLIENT

August 5, 2014 Category :INVESTMENT 0

After this meeting, the client has accepted the recommendations of the adviser to invest $ 500,000 as follows:

• $ 150,000 in a one-year GIC;
• $ 100 000 in various preferred having an average degree of risk;
• $ 250,000 in balanced mutual funds with an average degree of risk.

INVESTMENT PORTFOLIO - KNOW YOUR CLIENTA few days after this meeting, the client has left for Florida. Upon his return five months later, she discovered that the value of its investments had decreased. She phoned her investment advisor to express his concerns. Councillor reminded him that the investments could fluctuate in the short term and recommended it to sell anything.

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INCOME TRUST – BAD ADVICE

July 30, 2014 Category :INVESTMENT 0

INCOME TRUST - BAD ADVICE In early 2002, a customer sells its income property worth $ 000 out 175. He asks his accountant if there is a product that guarantees its capital investment and give him a regular income. It suggests income trusts capital guaranteed. The client invests in trusts proposed by Councillor which is recommended by the financial institution. Shortly after, the income from these investments are reduced to almost nothing. Although the principal is guaranteed, the customer is not satisfied and seeks an alternative.

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FOREIGN BUSINESS FRAUD

July 20, 2014 Category :INVESTMENT 0

In February 1999, Mr. C. open an RRSP account. Five years later, it all liquid investments and closes the account to purchase a new home. It was not until early 2008 that MC sees his former counselor at a chance meeting in a store. According to MC, the counselor would then proposed a meeting to discuss an investment opportunity where he could get a monthly return of 5% and the repayment of capital after six months, receiving a 30-day notice .

In April 2008, Councillor MC meeting at his residence and they sign documents under which it agrees to lend to the councilor and his personal company the sum of $ 20,000, for a period of 12 months. MC sign a check for $ 18,000 payable to the Adviser and the latter told him that he would draw the $ 2,000 missing from his personal funds. In return, MC is expected to receive monthly interest payments of $ 1000 and the repayment of the principal at the end of the loan period.

In July 2008, MC councilor meets again at his residence and sign another agreement to pay the adviser and his personal company an additional $ 60,000 USD for a period of six months. Under this last loan, MC expects to receive monthly interest payments of $ 3000 and the repayment of the principal at the end of the loan period. MC sign a check for $ 60,000 payable to the adviser.

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FRAUD – BUSINESS CASE

July 16, 2014 Category :INVESTMENT 0

OBSI has received over a short period, many complaints about an investment firm as well as a MV, investment advisor and branch manager. There is no link between the complainants from the fact that they all had to advise MV. This worked for the investment firm for many years and, as he simultaneously served as an advisor and branch manager, clients considered him a competent and reliable person.

FRAUD - BUSINESS CASEMV had recommended funding to plaintiffs with the promise that it would bring them a guaranteed interest rate of 10%. So customers had checks in various amounts, and had returned to MV In return, they received a “promissory note” describing a schedule of payments of interest.

Initially, the plaintiffs received regular payments as scheduled. However, during the year, interest payments have suddenly stopped. The plaintiffs tried to communicate with MV, but after many failed attempts, they finally filed a complaint with the office of the firm and requested that their money be returned to them.

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BUSINESS OPERATIONS “EXTERNAL”

July 11, 2014 Category :INVESTMENT 0

Having a modest and limited financial literacy income MP asked his advisor how he could obtain a higher average returns with minimal risk. PM’s adviser recommended a foreign equity fund with a duration of three years and explained that this was similar to other investment products in which Mr. P had already invested. The latter decided to invest $ 10,500.

BUSINESS OPERATIONS "EXTERNAL" As the deadline approached, MP called his counselor asked him when he would receive his money. His advisor was then informed that the society in which he had invested was the subject of a regulatory investigation. However, it appears that the advisor was also the subject of this investigation. Later, in addition to learning that the funds become illegal, Mr. P has been informed by the company that the counselor was no longer in his job.

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