Industry News

Comments period open on covered bonds

Reader alert: Look for an analysis of covered bonds in the June edition of Advisor’s Edge Report. Fulfilling a promise made in the March 2010 budget, the Department of Finance has published a consultation paper that proposes a legislative framework for Federally Regulated Financial Institution (FRFI) to issue covered bonds. Covered bonds are debt securities […]

May 20, 2011

1 min read

Industry

BlackRock buys out Bank of America stake

Global asset manager BlackRock Inc. has agreed to repurchase Bank of America Corporation’s remaining ownership interest in BlackRock, in a deal worth about $2.5 billion or $187.65 per share. The shares will be retired following the close of the transaction, which will be immediately accretive to earnings per share. In connection with the transaction, Bank […]

By April Scott-Clarke |May 19, 2011

1 min read

Industry

Expert: Bet on emerging markets

While governments in industrialised economies are taking a softly-softly-catchee-monkey approach to monetary tightening, those in emerging markets have been more aggressive and have been able to successfully stymie inflation.

By Vikram Barhat |May 19, 2011

3 min read

Industry

Canadian ETF Association launched

BMO ETFs, Claymore Investments, and Horizons Exchange Traded Funds have agreed to collectively launch the Canadian ETF Association (CETFA), to promote the Canadian ETF industry. The founding managing directors of CETFA are Rajiv Silgardo, co-CEO, BMO Global Asset Management; Som Seif, president and CEO, Claymore Investments; and Howard Atkinson, president of Horizons Exchange Traded Funds. […]

By Staff |May 19, 2011

1 min read

Risk is back on the menu

Canadian investors may be showing a little more appetite for risk, with a vast majority telling a recent survey they would invest in growth-oriented mutual funds over the next year. It should be noted that the definition of “growth-oriented” in this case is not that of the industry style-box, but refers to capital appreciation strategies. […]

By Staff |May 19, 2011

2 min read

IIROC settles with Donald Dean Mackenzie

Donald Dean Mackenzie has agreed to pay a penalty of $20,000 and accepts a three-month prohibition from seeking re-registration approval with an IIROC-regulated firm. Mr. Mackenzie has also agreed to pay $5,000 in costs to IIROC.

By Staff |May 12, 2011

1 min read

Standard Life makes key appointments

Standard Life Financial Inc. has appointed Jean Guay as senior vice-president, sales and marketing while Graham Nichol will take the position of senior vice-president, customer experience, currently held by Guay, effective June 1. “With these appointments, I believe that Standard Life has strengthened its leadership team,” said Joseph Iannicelli, president, Standard Life. “This will facilitate […]

By Staff |May 11, 2011

1 min read

BlackRock launches new fund

BlackRock Asset Management Canada Limited, an indirect, wholly-owned subsidiary of BlackRock, Inc., today announced that iShares, the world’s largest provider of Exchange Traded Funds (ETFs), is launching the iShares NASDAQ 100 Index Fund XQQ. “This new ETF is an ideal complement to our product line-up in Canada and provides investors access to a number of […]

1 min read

CFA Conference coverage

Financial Group News Editor Steven Lamb reports live from the CFA Annual Conference in Edinburgh, Scotland, May 9 – 10. Tuesday, May 10 5:20 GMT: That’s it for my coverage from Edinburgh. I’d like to thank the CFA Institute and its staff for hosting a top notch event, and I look forward to my next […]

By Staff |May 6, 2011

22 min read