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(July 4, 2007) It seems reckless sub-prime mortgage lending is not isolated to the United States. Britain’s Financial Services Authority has taken enforcement action against five firms over the behaviour of intermediaries and lenders that service consumers with impaired credit histories. The FSA reviewed 11 lender firms, representing more than 50% of the sub-prime market […]
By Staff |July 4, 2007
5 min read
Staying home turned out to be an all-right strategy for Canadian investors in the second quarter of 2007, but venturing into emerging markets was also worth the trip, according to fund performance data compiled by Morningstar Canada. Investing in the rest of the industrialized world, however, would have been a little disappointing. Investors were rewarded […]
By Steven Lamb |July 4, 2007
4 min read
Income trust investors will have an easier time filing their annual tax return, thanks to a new federal government draft amendment. Jim Flaherty, Canada’s minister of finance, announced Wednesday that income trusts would have 60 days — as opposed to 90 — to disclose information relating to distributions and allocations of income and capital. Trusts […]
By Bryan Borzykowski |July 4, 2007
2 min read
(July 3, 2007) A British Columbia Securities Commission panel has laid down the law on a Vancouver-based advisor who invested her client’s money in unsuitable investments. Jill MacGregor Bock has been ordered to pay a $25,000 fine for violating securities rules. On February 27, 2007, the panel found that Bock had contravened section 48 — […]
By Staff |July 3, 2007
The Investment Dealers Association has named Susan Wolburgh Jenah its new CEO. Earlier this year, Wolburgh Jenah joined the IDA from the Ontario Securities Commission to facilitate the merger between the IDA and Market Regulation Services. Upon the proposed merger, Wolburgh Jenah will continue as CEO of the newly formed organization. “Susan brings extensive regulatory […]
By Mark Noble |July 3, 2007
With the passing of the federal income trust tax into law on June 22, it’s no longer a game of wait and see; income trusts and their investors have to make some hard decisions about what to do now. For the foreseeable future, there are few options, and none of them are as attractive as […]
3 min read
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By Staff |June 29, 2007
1 min read
(June 29, 2007) Investors Group has announced it will introduce a new fixed administration fee on its funds, in an effort to make MERs more predictable. Right now, operating expenses are part of the MER, which fluctuates from year to year and making it hard for investors to predict. Those operating expenses will be replaced […]
Unitholders in one of the investments in the collapsed Portus Group may soon be able to retrieve what’s left of their money as the receiver moves to wind up the investment. Portus Group had three investment vehicles: two managed accounts that were to buy both Canadian and U.S.-dollar denominated principal-protected notes, and the Market-Neutral Preservation […]
By Scot Blythe |June 29, 2007
(June 28, 2007) The TSX Venture Exchange says it will appeal a recent British Columbia Securities Commission decision that overturned the exchange’s prohibition of a convicted murderer from holding a post in investor relations for TSX Venture listed issuers. In late 2005, the exchange deemed William John Nichols unsuitable to provide investor relations services to […]
By Staff |June 28, 2007
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