Industry News

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VenGrowth’s abandoned merger leaves GrowthWorks hopeful

VenGrowth is still on the market. At a fairness hearing last Friday in Toronto both the court and the Ontario Securities Commission rejected Covington Fund’s bid for the firm, largely due to poor disclosure practices, forcing the boards of both companies to terminate the acquisition agreement. The decision is a boon for David Levi, president […]

By Sheila Avari |December 22, 2010

3 min read

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FaithLife acquires Woman’s Life

Mergers and acquisitions activity in Canada continues its slow but steady progress as another number gets added to its 2010 tally. A recent federal regulatory approval made it possible for Waterloo-based FaithLife Financial to acquire U.S.-based Woman’s Life. Effective January 1, 2010, FaithLife Financial, a not-for-profit, member-based financial services organization, assumes direct responsibility for all […]

By Vikram Barhat |December 22, 2010

2 min read

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AMF suit seeks $376,000 fine

The Autorité des marchés financiers (AMF) has launched penal proceedings against Hooshang Imanpoorsaid and is seeking fines totalling $376,000. The AMF alleges that Hooshang Imanpoorsaid illegally pursued activities as a securities dealer on 19 occasions and made 13 illegal distributions, mainly debt securities bearing an interest rate of as high as 18%. The AMF further […]

December 22, 2010

1 min read

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Stevenson appointed to CIBC board

Katharine B. Stevenson is joining the CIBC Board of Directors. Stevenson’s appointment will begin on January 1, 2011.

By Staff |December 21, 2010

1 min read

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New Year resolutions: Promising by yards, performing by inches

To many Canadians, a New Year’s resolution is something that goes in one year and out the other. And that’s perhaps why their health problems last longer than their New Year’s resolutions, as the recent Sun Life Financial study found. One of the key findings from the online survey, which included 1,586 adults, revealed that […]

By Vikram Barhat |December 21, 2010

2 min read

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Planning and Advice

Best Practices: Building teams, growing your business

Wondering how to best manage your team or grow your client list? Not sure how to deal with a particular client? If these questions are on your mind, reach out to Advisor.ca and our columnist, Joanne Ferguson.

By Joanne Ferguson |December 21, 2010

5 min read

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Investors Group offers fixed income portfolio fund

Investors Group has launched a new fixed income mandate, the Investors Fixed Income Flex Portfolio, which aims to provide current income by investing in a diversified set of underlying funds that invest primarily in fixed income securities. “Fixed income holdings are a critical component of an investor’s overall portfolio strategy and this new Portfolio is […]

By Staff |December 20, 2010

1 min read

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IIROC reaches decision for Nott, et al

A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has found that five employees at TD Securities Inc. violated the Universal Market Integrity Rules (UMIR) by entering artificial closing bids in 322 instances over a six-month period. The panel dismissed an allegation that TD Securities failed to comply with its trading supervision […]

By Staff |December 20, 2010

2 min read

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Economic Indicators

Enhanced CPP option on the rocks

Federal Finance Minister Jim Flaherty appears set to discard the option of enhancing the Canada Pension Plan, heading into the meeting with his provincial counterparts in Kananaskis, Alberta. Last week Flaherty proposed a private sector solution to Canada’s future retirement funding crisis, which would allow workers without a pension plan to contribute to a pooled […]

By Steven Lamb |December 20, 2010

1 min read

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S&P/TSX launch two new indices

Standard & Poor’s and TSX Group have launched two new yield- focuses indices for the Canadian marketplace: the S&P/TSX Equity Income Index and the S&P/TSX Composite Dividend Index. The Equity Income Index focuses on dividend income and is comprised of 50 to 75 dividend-paying stocks selected from the S&P/TSX Composite Index. It is designed to […]

By Staff |December 20, 2010

1 min read

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