Industry

Decorative pattern

Briefly:

(July 12, 2007) Economic growth and inflation for the first half of 2007 has been stronger than was expected, the Bank of Canada said in its June Monetary Policy Report, and growth won’t be subsiding anytime soon. Much of this growth has been fuelled by domestic demand bolstered by firm commodity prices. Both total CPI […]

By Staff |July 12, 2007

2 min read

Decorative pattern

SEC defends private equity IPOs

The U.S. Securities and Exchange Commission is defending its decision to allow the initial public offering of private equity companies in the wake of mounting pressure from U.S. legislators, who want to subject private equity firms to greater scrutiny. Andrew J. Donohue, director of the SEC’s Division of Investment Management, testified on Wednesday in Congress […]

By Mark Noble |July 12, 2007

4 min read

Decorative pattern

Alcan deal sends fund managers on the hunt for a new large-cap

Hot on the heels of BCE takeover news comes an announcement of another huge merger that’s sure to affect Canadian investors. Anglo-Australian mining juggernaut Rio Tinto has made a $38.1 billion all-cash offer to buy Alcan, Canada’s largest mining company. The deal has fund companies searching for new places to invest the eventual cash windfall, […]

By Bryan Borzykowski |July 12, 2007

3 min read

Decorative pattern

Briefly:

(July 11, 2007) Manulife Investments has decided to use the Manulife name for the majority of its fund offerings, and will retire the names of the Elliot & Page and MIX families of funds. Elliott & Page Funds will change to Manulife Funds, and MIX Funds will become Manulife Corporate Class. Manulife says the new […]

By Staff |July 11, 2007

3 min read

Decorative pattern

Pensions still not out of the woods

Canadian pension plans received a clean bill of health this week, as Watson Wyatt Worldwide and Mercer Human Resource Consulting released separate studies revealing a renewed strength of retirement plans. That could be good news for retirees since corporate pension plans are at the heart of a relaxing post-work life. The Mercer Pension Health Index […]

By Bryan Borzykowski |July 11, 2007

3 min read

Decorative pattern

U.S. legislators set sights on hedge funds

The days of footloose and fancy-free hedge funds may be nearing an end. A movement is afoot by both U.S. legislators and regulators to force hedge funds to comply with a greater range of securities laws. Erik R. Sirri, director of the U.S. Securities and Exchange Commission’s Division of Market Regulation, testified before the Financial […]

By Mark Noble |July 11, 2007

2 min read

Decorative pattern

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(July 10, 2007) A former B.C. government official has been named as the new head of Vancouver City Savings Credit Union. Tamara Vrooman, the ex-deputy minister of finance and secretary to the treasury board for the B.C. government, will be the credit union’s new CEO starting September 1. “We are delighted to have found someone […]

By Staff |July 10, 2007

3 min read

Decorative pattern

Loring Ward sells wealth management division

Loring Ward International has struck a deal to sell virtually all of the assets and liabilities associated with Loring Ward Capital Management, its private client division. The Monarch Wealth Advisory Group, a company controlled by Jeffrey B. Wheeler, has agreed to purchase the capital management business. Dependent on the performance of the sold business, Loring […]

By Mark Noble |July 10, 2007

2 min read

Decorative pattern

Interest rate hike no cause for concern

In probably the least surprising move of the year, the Bank of Canada announced Tuesday that it is raising interest rates by 25 basis points to 4.5%. The move comes as a result of a stronger than expected economy and a soaring Canadian dollar. “The Bank judges that the economy is now operating further above […]

By Bryan Borzykowski |July 10, 2007

3 min read

Decorative pattern

Briefly:

(July 9, 2007) The Investment Dealers Association has issued a fine of $80,000 against investment dealer Canaccord Capital, over failure to supervise. The IDA announced recently that Canaccord admitted that it failed to properly supervise a pro account between November 2001 and 2002, and it engaged in business conduct that was detrimental to the public […]

By Staff |July 9, 2007

3 min read

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