Industry

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Finals – ‘Name That Visionary’ Poll

The final round is upon is. From our list of 20 finalists, you have given us your Top 10

January 17, 2011

1 min read

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IIROC reaches decision for Ronald Stoneburg

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has found Ronald Stoneburg misappropriated $350,000 in client funds and forged a client signature. The penalty against Mr. Stoneburg includes a $425,000 fine and a permanent ban on conducting securities-related business in any capacity with an IIROC-regulated firm. The panel has also ordered […]

By Staff |January 17, 2011

1 min read

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IIROC settles with All Group Financial Services

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a Settlement Agreement between IIROC staff and All Group Financial Services Inc. In the agreement, All Group Financial Services Inc. admits that it failed to maintain Risk-Adjusted Capital above zero, and that it reduced its capital by redeeming shares without prior […]

By Staff |January 17, 2011

1 min read

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IIROC settles with Paul Ryan Klemke

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement between IIROC staff and Paul Ryan Klemke. In the agreement, Mr. Klemke admitted to unauthorized trading in client accounts; violating his know-your-client and suitability obligations in certain trading in client accounts; and trading in a security that was […]

By Staff |January 17, 2011

2 min read

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OSC issues investor alert: Impact Finance and Douglas Charles

The Ontario Securities Commission is warning investors not to send money to Impact Finance or Douglas Charles. Representatives of these entities, including an individual purported to be Ian T. Ball, may be soliciting residents of Ontario in a fraudulent advance fee scheme. Impact Finance and Douglas Charles representatives are contacting investors who hold securities of […]

By Staff |January 17, 2011

1 min read

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Economic Indicators

“Debt diet” starts today

This morning’s announcement by the Finance Minister is the start of a government program to put Canadians on a “debt diet”, according to CIBC World Markets. While this may remove some liquidity from the market, it should make economic growth more sustainable in 2011. “Canada’s economic mix has been the polar opposite of the U.S., […]

By Steven Lamb |January 17, 2011

2 min read

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Foreigners saw Canada as a hotspot in November

Foreign investors continued to buy Canadian securities late in 2010, according to Statistics Canada, acquiring an additional $8 billion in November, the most recent month for which data is available. Foreign buyers focused on debt issues, which made up $7.1 billion of the overall total. New private corporate bonds – mainly U.S.-denominated – accounted for […]

By Staff |January 17, 2011

1 min read

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Strong fund sales cap off 2010

Mutual funds sales for December – in fact, much of 2010 – were reminiscent of Goldilocks. Investors found some fund categories too hot for their liking (equity), while others were starting to cool off (fixed income). Great luck for balanced fund managers, as investors opted for the “just right” asset mix. “Long term fund sales […]

By Steven Lamb |January 17, 2011

2 min read

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IIROC makes changes to arbitration program

The board of directors of IIROC has approved two key changes to the SRO’s arbitration program, effective immediately for new cases. First, the previous $100,000 reward limit has been increased to $500,000. Second, investors now have the option, under certain conditions, to eliminate the discretion of arbitrators to award costs against a party. “The higher […]

By Staff |January 14, 2011

1 min read

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OSC should allow ABCP ethics probe

At a time when investors and industry participants are calling for proper regulatory enforcement, we get word that the OSC is considering a request that an IIROC investigation be shut down. The request comes from Deutsche Bank Securities, which is under scrutiny for its role in the distribution of asset backed commercial paper products, which […]

By Steven Lamb |January 14, 2011

1 min read

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