Briefly:

The Investment Industry Regulatory Organization of Canada (IIROC) announced today that it had taken the following steps in response to the yesterday’s market volatility. On May 6th, IIROC re-priced or cancelled trades which occurred between 2:40 pm and 3:10 pm in the following securities:

• Claymore Canadian Financial Monthly Income ETF (FIE.A): five trades were cancelled • Fortis Inc. (FTS): 152 trades were re-priced and two trades were cancelled. Trades below $21.60 were re-priced to $21.60 • ISHARES S & P TSX CAPPED REIT INDEX FUND (XRE): 16 trades were re-priced and 5 trades were cancelled. Trades below $9.50 were re-priced to $9.50 • Inter Pipeline Fund (IPL.UN): 50 trades were re-priced. Trades below $9 were re-priced to $9.00

In light of recent market volatility, IIROC says it will continue to closely monitor all trading on Canadian equity market places.

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Sentry Select adjusts money market fund

Sentry Select Capital has announced the following changes to the Sentry Select Money Market Fund and Sentry Select Money Market Class, effective on or about June 7, 2010:

i) Series A securities will be re-designated as Series X. All attributes currently applicable to Series A securities will remain unchanged after the re-designation to Series X securities. Following their re-designation, Series X securities will not be offered for sale. Holders of Series X securities will, however, maintain their right to either redeem their Series X securities at any time or switch them into securities of any of the other mutual funds that are part of the Sentry Select Group of Funds, subject to applicable requirements.

ii) Series B securities will be re-designated as Series A securities. All attributes currently applicable to Series B securities will remain unchanged after the re-designation.

On or about June 7, 2010, the manager will suspend the service fees it has been paying to dealers that have investors who hold securities of the funds.

(05/07/10)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.