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(September 26, 2006) Richardson Financial Group announced Tuesday that it has promoted Sue Dabarno, currently president of Richardson Partners, appointing her CEO of Richardson Partners Financial Limited, the wealth management affiliate of Richardson.

Darbano, the former president and CEO of Merrill Lynch Canada, joined Richardson Partners in 2003. The company says that, under her leadership, the independent wealth management firm surpassed $5.5 billion in assets and established a team of advisors in eight cities across the country.

Sandy Riley, chairman of Richardson Partners and managing director of Richardson Capital, will continue in his roles and focus his efforts on strategic development.

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Dundee partners with CHIP

(September 26, 2006) Dundee Wealth Management and the Canadian Home Income Plan Corporation announced Tuesday that the firms have entered into a distribution agreement that will allow Dundee financial advisors to offer CHIP reverse mortgages to their senior clients.

“We are very excited about the partnership we have formed with CHIP, as it enables us to offer our clients yet another option to help them meet their specific life-stage needs,” says James McClocklin, president of Dundee Mortgage Services. “We feel the CHIP Home Income Plan is a financially viable option for our clients who may want to access the equity in their home.”

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NexGen expands sub-advisors’ mandates

(September 26, 2006) NexGen Financial Limited Partnership announced Tuesday that it has appointed Selective Asset Management and J. Zechner Associates to act as sub-advisors on a number of funds to facilitate portfolio administration and formally recognize the sub-advisor relationships in the fund of funds structure.

Selective will act as sub-advisor of the NexGen-branded Canadian Dividend and Income Fund, Canadian Growth and Income Fund, North American Value, Canadian Growth and North American Small/Mid Cap funds.

J. Zechner, meanwhile, will manage the NexGen Canadian Cash Tax Managed Fund, Canadian Bond Tax Managed Fund, the fixed-income portion of the Canadian Growth and Income Registered Fund, the NexGen Canadian Balanced Growth Registered Fund, and the North American Growth and American Growth registered funds.

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OSC announces new advisory committee lineup

(September 26, 2006) The Ontario Securities Commission announced Tuesday the new membership lineup of industry members on the Continuous Disclosure Advisory Committee. The CDAC is composed of members from a variety of industry sectors and companies to provide consultation to OSC staff on the development, implementation and review of continuous disclosure policies and practices.

The list of 18 new members includes representatives from Borden Ladner Gervais LLP, PriceWaterhouseCoopers LLP, Osgoode Hall Law School, the TSX Group, Royal Bank of Canada and the Canadian Coalition for Good Governance.

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IDA schedules disciplinary hearing for Octagon

(September 26, 2006) The Investment Dealers Association of Canada announced Tuesday that it will hold a hearing to address matter related to Octagon Capital Corporation.

The hearing, scheduled for October 4, relates to allegations that Octagon engaged in business conduct unbecoming or detrimental to the public interest when it facilitated a distribution of two debentures without ensuring that they had been approved for distribution, that a prospectus had been issued, or that clients were qualified to invest in the products.

The IDA also alleges that between 2003 and 2004, the firm failed to ensure that six accounts, known as the Benil accounts, were being directed by someone listed on the accounts, and that they knew or ought to have known that those trading in the accounts were known to have a history of securities violations and/or and association with organized crime. Other allegations include failing to notify clients that there was a potential conflict of interest involving a registered representative at the firm and a publicly listed company on the TSX Venture Exchange in which they were investing.

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(09/26/06)