Industry

Decorative pattern

Predatory trading

It happens to every trader: you place a bid for a thousand shares of thinly traded stock at a nickel above the best bid showing, and before you can blink, there’s another bid a penny in front of you. While desirable from a capital markets perspective – the bid/offer spread is, after all, declining, which […]

By James Hymas |June 9, 2010

8 min read

Decorative pattern

Briefly: ‘IIROC fines advisor’ and more news

An IIROC hearing panel has imposed a fine of $36,500 against James Jannetta and has required him to pay costs of $15,000 for numerous breaches of IIROC’s business conduct. The panel found that Jannetta failed to record or update client investment objectives and risk tolerance in two client accounts and engaged in discretionary trading in […]

By Staff |June 9, 2010

3 min read

Decorative pattern

Briefly: ‘Aston Hill buying Navina’ and more news

Aston Hill Financial has announced it will acquire Navina Asset Management in a cash and stock deal worth up to $6 million. The deal consists of base consideration of $4.2 million, and is and subject to potential additional earn-outs of up to $1.8 million. Navina shareholders may elect to receive an aggregate of up to […]

By Staff |June 8, 2010

5 min read

Decorative pattern

CFAs question advisor ethics

The Canadian financial system and capital markets are in fine shape, according to a survey of Canadian CFA charterholders. The confidence of these professionals is the highest it’s been in the past three years, according to the 2010 Financial Market Integrity Index (FMI). “Based on the comments of Canadian survey respondents regarding the integrity of […]

By Steven Lamb |June 8, 2010

3 min read

Decorative pattern

The 3 Ds of investing

Preferred shares with adjustable medium-term rates; significant tax benefits on income received for non-registered and corporate accounts; Mortgages on income-producing assets; especially subordinated debt-to-low-loan-to-value first mortgages; Life annuities (with or without life insurance) as an alternative to other fixed-income vehicles. Yields are excellent and for non-registered capital, as much as 60-80% of the income is […]

By John Nicola |June 7, 2010

5 min read

Decorative pattern

Briefly: Jory Capital faces IIROC hearing and more news

IIROC has announced a disciplinary hearing for Patrick Cooney and Jory Capital Inc. The hearing has been scheduled before a panel of the Investment Industry Regulatory Organization of Canada (IIROC). The issue is related to allegations that Cooney, chief executive and sole director of Jory, failed to take measures to ensure Jory met compliance standards […]

By Staff |June 7, 2010

4 min read

Decorative pattern

Briefly:

Mackenzie Financial has announced the appointment of Steve Locke and Dan Bastasic as co-leaders of Mackenzie Sentinel’s six person investment team, effective immediately. “Both Steve and Dan are respected Portfolio Managers with proven track records in investment research and portfolio management” said Norman Raschkowan, chief investment officer of Mackenzie Financial Corporation. Locke and Bastasic replace […]

By Staff |June 4, 2010

2 min read

Decorative pattern

Briefly:

HSBC Bank Canada has launched two new market-linked GICs, with returns based on a primary indexes of Hong Kong, South Korea, Singapore and Taiwan. The Asian Tigers Stock Market GIC allows holders to receive a variable rate of return, linked to the performance of the Asian Tigers indices, while fully protecting their principal. The 50/50 […]

By Staff |June 3, 2010

3 min read

Decorative pattern

Fund sales continue to slide

Trying times for the mutual fund industry. Already in the post-RRSP season doldrums, fund sales were beaten down by market volatility in May. Net redemptions of mutual funds for the month of May are estimated to be between $1.0 billion and $1.5 billion, according to preliminary sales data released by IFIC. Net industry assets at […]

By Vikram Barhat |June 3, 2010

2 min read

Decorative pattern

Volatility clips equity funds

The vortex of volatility that characterized markets in May took a toll on mutual fund returns, according to Morningstar Canada. None of the 43 Morningstar Canada Fund Indices was spared the financial contagion, as they all posted losses owing to mounting concerns over the growing Europeans debt crisis. “Joint efforts by European finance ministers, the […]

By Vikram Barhat |June 3, 2010

2 min read

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