Industry

Decorative pattern

Briefly:

(April 30, 2007) RBC announced Monday that it has acquired Seasongood & Mayer, Ohio’s top public finance firm and underwriter of municipal debt. RBC Capital Markets says the proposed merger bolsters its position in the U.S. municipal investment banking market while enhancing its overall presence in Ohio. Based on 2006 rankings, RBC says the combined […]

By Staff |April 30, 2007

4 min read

Decorative pattern

Active managers beat the benchmark

The ongoing debate over active versus passive returned on Monday with Russell Investments Canada saying that active Canadian equity managers have had a great Q1. In the Russell Investments Canada 1st Quarter 2007 Active Management report, 65% of large cap equity managers fared better than the S&P/TSX Composite Index, the highest number in three years. […]

By Bryan Borzykowski |April 30, 2007

3 min read

Decorative pattern

New company pairs advisors, mortgage brokers

The Smith Manoeuvre is now a corporate enterprise. A group of financial industry veterans have teamed up with founder Fraser Smith to create Smith Manoeuvre Financial Corporation. The company will offer seminars and accreditation to mortgage brokers and financial advisors, who will then work together to implement the Smith Manoeuvre for clients. The Smith Manoeuvre […]

By Mark Noble |April 30, 2007

2 min read

Decorative pattern

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(April 27, 2007) A hearing panel of the British Columbia Securities Commission has found that a White Rock, B.C., man ran two fraudulent investment schemes that cost investors nearly $15 million in losses. Between January 2000 and November 2004, Brian David Anderson raised approximately $14.7 million from 352 investors, 57 of whom were residents of […]

By Staff |April 27, 2007

4 min read

Decorative pattern

Canadian firms risk missing out on Hong Kong

China’s rampant economic expansion is hardly a new story, and Canadian investors have been increasing their allocation in the awakening giant ever since it started to stir. But the Canadian financial services sector could be missing out on a real opportunity for expansion, according to one government official from Hong Kong. “Don’t miss the boat […]

By Steven Lamb |April 27, 2007

3 min read

Decorative pattern

Bad gas: BMO gamble blows up

One of Canada’s big banks has egg on its face today, admitting that it will have to write-down trading losses of $350 million to $450 million, after its Houston-based proprietary trading desk grossly miscalculated the natural gas commodity market. BMO Financial Group estimates that the losses work out to around 45 to 55 cents a […]

By Mark Noble |April 27, 2007

2 min read

Decorative pattern

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(April 26, 2007) David Dodge will not seek a second term as governor of the Bank of Canada. Dodge, who has headed up the bank since February 2001, will continue in the role until January 31, 2008. Before his term as the head of the BoC, Dodge held roles as the deputy minister of finance […]

By Staff |April 26, 2007

4 min read

Decorative pattern

Inflation potential wrench in BoC plans

The Canadian economy surprised Bank of Canada officials this month. Although the economy remains in line with most of the Bank’s January predictions, the April Monetary Policy Report says inflation — which is slightly outpacing the Bank’s target of 2% — is the one glaring exception. The unexpected increase is largely due to an unforeseen […]

By Mark Noble |April 26, 2007

2 min read

Decorative pattern

Prospectuses made simple

Say goodbye to the 80-plus page “simplified” prospectus for investment products, It’s about to get a lot shorter. In keeping with the Ontario Securities Commission push for plain-speak, the commission is working with security and insurance regulators to examine ways of simplifying the disclosure documents given to investors. In a speech to the Economic Club […]

By Mark Brown |April 26, 2007

2 min read

Decorative pattern

Briefly:

(April 25, 2007) In terms of provincial economic growth last year, Alberta continues to lead the nation. For the third consecutive year, Alberta had Canada’s fastest growing economy, which grew at a rate of 6.8%, more than double the national average, Statistics Canada reports. Energy prices and continued investment in the oil sands spurred Alberta’s […]

By Staff |April 25, 2007

3 min read

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