Industry

Some Portus investors saved at the last minute

A few investors — unwillingly but luckily — managed to escape Portus Group’s stratagems, according to the most recent report filed by receiver KPMG. Investors, with 30,000 accounts put $738 million CAN and $50 million US into Portus’s purchase of guaranteed notes, of which only $529 million CAN was invested, $133 million CAN and $36 […]

By Scot Blythe |November 29, 2005

2 min read

Less than 20% of IDA fines paid

In the second last week of November the IDA announced more than $400,000 in fines representing roughly 10% of the monetary penalties it has handed out so far this year. But by the brokerage industry association’s own admission, they will be lucky if they see a fifth of that money. According to the associations’ own […]

By Mark Brown |November 29, 2005

6 min read

Fiera buying YMG Capital Management

Two of Canada’s independent investment managers are coming together in a takeover which will make them among the largest of their kind in Canada. Fiera Capital Management has reached an agreement to purchase YMG Capital Management for $3.25 per share, a premium of 22% over the recent volume-weighted average. Scotia Capital, serving as advisors to […]

By Steven Lamb |November 28, 2005

2 min read

Briefly:

(December 2, 2005) The IDA has suspended the membership of iForum Securities. At the same time, the AMF, Quebec’s securities regulator, announced that some of the firm’s assets have been sold. According to the AMF, Industrial Alliance Securities has been successful in its bid for some assets of iForum. A joint bid by Quadrus Investment […]

By Staff |November 28, 2005

12 min read