Industry News

Awareness helps fraud-proof your client

If you believe the mainstream press, the financial services industry is rife with fraud. While the industry may have a few bad apples, a more plausible explanation for this misconception is that fraudsters see the industry as perfect cover for their underhanded schemes. Pretending to be a financial advisor, a thief can clean out multiple […]

By Steven Lamb |March 10, 2011

2 min read

Industry

IIAC demands clarity on TMX-LSE deal

Reader Alert: Make your views known on the TMX-LSE story. Post your thoughts at the bottom of this story and vote in our poll here. The tug of war among industry participants over the proposed TMX-LSE merger intensified as the Investment Industry Association of Canada (IIAC) weighed in on the tussle. In a presentation to […]

By Vikram Barhat |March 10, 2011

3 min read

Industry

Toronto CFA Society honours Pauline Shum

The Toronto CFA Society has named the first recipient of their newest award, the Toronto CFA Society & Hillsdale Canadian Investment Research Award. The honour goes to Dr. Pauline Shum, finance professor at the Schulich School of Business, York University, for her research paper “The Long and Short of Leveraged ETFs: the Financial Crisis and […]

By Staff |March 10, 2011

1 min read

Industry

FMFD board announces new priorities

The new board of directors of the Federation of Mutual Fund Dealers has announced what it describes as a “new direction, vision, mission and purpose.” “The Vision of the Federation is to be the representative voice of mutual fund distribution in Canada. The Mission is to ensure the viability and prosperity of this vital channel […]

By Staff |March 10, 2011

1 min read

IIROC sets penalty for Benarroch, Kent, Glover and Credifinance Securities

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed penalties against Georges Benarroch, Linda Kent, Marjorie Ann Glover and Credifinance Securities Limited, as follows: The panel also required the individuals to pay costs in the amounts of $50,000 by Mr. Benarroch, $25,000 by Ms. Kent and $25,000 by Ms. Glover. […]

By Staff |March 9, 2011

2 min read

Ontario seeks comment on pension regs

On March 3, 2011, the Ontario government released draft regulations regarding the division of pension assets on marriage breakdown. Public comments are invited up to April 18, 2011. The new rules may be proclaimed into force as soon as July 1, 2011. The new regulations will require administrators to: 1. Provide a new type of […]

By Staff |March 9, 2011

1 min read

Dundee acquisition completed, shares to delist

Scotiabank announced today that it has acquired the remaining 4 million common shares of DundeeWealth (representing 3.27% of the issued and outstanding common shares) that were not tendered to Scotiabank’s purchase offer, which expired at 12:01 a.m. ET on February 1, 2011. As a result of the completion of the Compulsory Acquisition, Scotiabank now owns […]

By Staff |March 9, 2011

1 min read

National regulator unconstitutional: Alberta court

The Alberta Court of Appeal ruled today that the federal government’s proposed legislation for a national securities regulator is unconstitutional. “It is neither appropriate nor necessary for this Court to try and determine whether it is ‘better’ for Canada to have a national, as compared to a provincial, system of securities regulation,” the ruling says. […]

2 min read

TMX deal needs closer scrutiny: Alpha

One of the leading competitors to the TMX Group says the proposed merger of the exchange with the London Stock Exchange comes as no surprise and even welcomes the news, so long as the deal is stripped of certain strategic assets. Mergers among traditional exchanges are not surprising, according to Jos Schmitt, CEO of Alpha […]

By Steven Lamb |March 8, 2011

2 min read