Industry

Decorative pattern

Industrial Alliance names Martin to board

Industrial Alliance Insurance and Financial Services has named Jacques Martin to its board of directors. Martin has held several executive positions at the Caisse de dépôt et placement du Québec, mainly at its New York City office and at Goldman, Sachs in New York and London, England. This appointment was ratified by the Industrial Alliance […]

By Staff |January 20, 2011

1 min read

Decorative pattern

IIROC sets penalty against Blackmont Capital, Duke

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed a $732,500 fine against Blackmont Capital Inc. and a $265,000 fine against Dean Shannon Duke after an earlier decision found they had violated business conduct and trade authorization rules. As part of the penalty decision dated December 20, 2010, the panel […]

By Staff |January 20, 2011

2 min read

Decorative pattern

Norbourg saga draws to a close

An agreement in principle has been reached in the Norbourg class action lawsuit. Under the $55 million settlement there is no admission of liability. The amount will be covered by Beaulieu Deschambault S.E.N.C.R.L. (including Deschambault St-Jean S.E.N.C.R.L.) and Rémi Deschambault, the AMF, The Northern Trust Company, Canada, Concentra Trust and KPMG LLP. The $55 million […]

By Staff |January 19, 2011

1 min read

Decorative pattern

Bullion Management expands into Asia

Gold is more popular than ever and the Bullion Management Group has opened a new Hong Kong to meet the increasing market demand.

By John Powell |January 18, 2011

1 min read

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Estate Planning

BMO offers guaranteed retirement income product

BMO has announced the launch of a new guaranteed income product aimed at clients aged 55 and up. The BMO Lifetime Cash Flow product bank deposit backed by BMO and is fully protected against market volatility. The initial deposit (minimum $5,000) provides exposure to a portfolio of BMO Mutual Funds which is rebalanced annually to […]

By Staff |January 18, 2011

1 min read

Decorative pattern

Union Securities names new COO

Union Securities announced the appointment of Bill Wright as its Chief Operations Officer earlier this month. In this new role, he will oversee operational controls, procedures, and reporting systems. “We are very pleased to welcome Bill Wright to the executive management team,” said John MacPhail, CEO of Union Securities. “We believe Bill will be a […]

By Staff |January 18, 2011

1 min read

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OSC seeks new small business committee members

The Ontario Securities Commission (OSC) is seeking applicants for membership on its Small Business Advisory Committee (SBAC). OSC staff recognize the pivotal role played by small issuers in the capital markets and the critical importance of consulting with investors, industry participants and other stakeholders. Small issuers account for 40 per cent of Ontario’s reporting issuers, […]

January 18, 2011

1 min read

Decorative pattern

Desjardins offers variable-rate GIC

Desjardins Group has announced that it will offer a five year GIC which features an annual interest rate adjustment. The “5-in-1” Enhanced Rate Guaranteed Investment will be available January 31. The product is aimed at investors who are reluctant to lock in at a fixed rate, fearing interest rates will rise over the next five […]

By Staff |January 18, 2011

1 min read

Decorative pattern

Op Ed: Full MFDA review is needed

There has been quite a fuss over the decision by the British Columbia Securities Commission’s (BCSC) decision to censure the Mutual Fund Dealers Association (MFDA) for its proxy solicitation practices. In fact, it has not been a particularly good year for the MFDA so far when, added to the BCSC’s decision, we have the Saskatchewan court’s refusal to toss a civil suit against it and the ruling in the Mallard case as well. Both have raised questions about the integrity of the MFDA.

By Stephanie A. McManus, LL. B. |January 17, 2011

5 min read

Decorative pattern

Economic Indicators

Flaherty tightens mortgage rules

Finance Minister Jim Flaherty has announced new rules for mortgage lending and home equity credit lines designed to rein in growing debt among Canadians. The first of three new measures reduces the maximum amortization period from 35 to 30 years for new government-backed insured mortgages with loan-to-value ratios higher than 80%. “This will significantly reduce […]

By Dean DiSpalatro |January 17, 2011

3 min read

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