Industry

Decorative pattern

Shorting ban could stall hedge fund activity

While the U.S. government’s ban on short-selling financial stocks has helped boost markets, this temporary plan will put hedge funds in a tough spot, at least until the restriction is lifted on October 2. “Shorting is very much in essence what hedge funds do,” says Pierre Saint-Laurent, president of Toronto-based Asset Council Inc. “It will […]

By Bryan Borzykowski |September 19, 2008

4 min read

Decorative pattern

Supreme Court dismisses ABCP appeal

The Supreme Court of Canada has dismissed a challenge to the restructuring plan for the country’s frozen asset-backed commercial paper (ABCP) market, clearing the way for the restructuring of the $32 billion market. A collection of investors led by Jean Coutu Group had asked to court to hear their appeal, arguing the restructuring plan tabled […]

By Jody White |September 19, 2008

1 min read

Decorative pattern

Briefly:

(September 18, 2008) Canadian consumer confidence rose in September, according to the latest reading of the TNS Canadian Facts’ Consumer Confidence Index. The latest measure stands at 99.6, up from 98.3 in August, and 96.5 in July. “Although rising confidence over two consecutive months is welcome news, it is largely a reflection of Canadians’ improved […]

By Staff |September 18, 2008

2 min read

Decorative pattern

Regulatory system

It was no presidential debate, but on Wednesday two financial stalwarts engaged in a heated conversation about Canadian securities regulation. Ian Russell, president and CEO of the Investments Industry Association of Canada, and Pierre Lortie, former president and CEO of the Montréal Exchange, traded barbs and views on whether or not a national securities regulator […]

By Bryan Borzykowski |September 18, 2008

4 min read

Decorative pattern

AIG deemed too big to fail

The United States Federal Reserve Board came to AIG’s rescue late Tuesday evening by authorizing the Federal Reserve Bank of New York to lend up to $85 billion US to the insurance company. “The board determined that, in current circumstances, a disorderly failure of AIG could add to already significant levels of financial market fragility […]

By Craig Sebastiano and Steven Lamb |September 17, 2008

3 min read

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Briefly:

(September 17, 2008) The Canadian Institute of Actuaries has asked Canada’s five main political parties to address various topics relevant to the industry, including their positions on the future of retirement savings, financing of Employment Insurance and long-term planning for health care. “Canada’s actuaries are asking the parties to seriously consider their commitment to these […]

By Staff |September 17, 2008

2 min read

Decorative pattern

Singing the praises of shareholder activism

Eric Rosenfeld wants to sing it from the highest mountain: shareholder activism works. As president and CEO of Crescendo Partners, a New York investment firm, Rosenfeld has made a name for himself on both sides of the border as a tough-talking (but sweet-singing) shareholder activist. And yesterday, at a joint CFA Society–Goodman Institute event at […]

By Romana King |September 17, 2008

3 min read

Decorative pattern

Ten observations about this financial storm

(September 2008) History in the making! Granted, it’s not the kind of history we’d all like to see, but the fact remains that the upheaval in the financial world during the past few days — in stocks, bonds, currencies, and, oh yeah, in the real world as well — is going in the history books. […]

By Michael Cintolo |September 17, 2008

5 min read

Decorative pattern

On The Shelf:

Dynamic Power Global Growth Class Dynamic Global Value Class Dynamic Global Dividend Value Class Dynamic Global Discovery Class Dynamic Canadian Value Class Dynamic Canadian Dividend Class Dynamic Power Canadian Growth Class Dynamic Power Global Balanced Class Dynamic Power Balanced Class Dynamic Dividend Income Class Dynamic Value Balanced Class Dynamic Advantage Bond Class Dynamic Advantage Bond […]

By Staff |September 16, 2008

3 min read

Decorative pattern

Advocis, MFDA clash over proposed amendments

With the comment period now closed for the MFDA’s proposed amendments to its client communication and client reporting rules, organizations are starting to speak out about the changes, including Advocis, which is especially upset with the SRO. The group, which represents Canada’s advisors, says the MFDA failed to talk to advisors before publishing these proposed […]

By Bryan Borzykowski |September 16, 2008

3 min read

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