Industry News

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Briefly:

Despite the wild ride that was 2009, the financial services industry remains one of the best to sectors in which to work, according to Report on Business magazine’s annual Fifty Best Employers in Canada survey. Financial services and insurance companies made up 14 of the top 50, with Regina’s Farm Credit Canada ninth place ranking […]

By Staff |December 30, 2009

2 min read

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In another sign that third party asset backed commercial paper is slowly being worked out of the financial system, DundeeWealth announced today that it had sold off all of its MAV II Class A-1 and Class A-2 Floating Rate Notes for net proceeds of $139,511,186. DundeeWealth still holds MAV II Class B and Class C […]

By Staff |December 29, 2009

3 min read

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IIROC finds branch oversight lacking

Canada’s advisor dealer branch networks need to do a better job on the compliance front, an Investment Industry Regulatory Organization of Canada (IIROC) audit finds. IIROC has released the findings of a the audit of 10 dealer member branch networks conducted in early 2009, showing that while strong compliance standards are in place at the […]

By Mark Noble |December 29, 2009

4 min read

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Debt needs to be dealt with

According to the Bank of Canada, Canadians currently have a $1.42 of debt for every dollar of income they earn. Now, you may worry momentarily that this might apply to your clients, but then you tell yourself, “Everything is fine; I don’t deal with the sort of people that report is about.” The fact is, […]

December 24, 2009

4 min read

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EdgePoint Wealth Management has received regulatory approval by Quebec’s Autorité des marchés financier to begin offering its portfolios to clients in la belle province. “We look forward to partnering with investors and their financial advisors in the province of Quebec,” said Patrick Farmer, CEO of EdgePoint. “We are now in a position to expand our […]

By Staff |December 23, 2009

1 min read

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Study: Good marketing goes a long way

Being proactive in client communication was a winning strategy during the recent financial crisis, a U.S. study finds — not just for the advisors but also for the asset managers that serve them. Boston-based Financial Research Corporation recently completed a survey of approximately 1300 U.S. financial advisors and 130 U.S. branch managers as part of […]

By Mark Noble |December 23, 2009

4 min read

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ABCP fines total $138 million

Regulators have released details of settlements reached over the 2007 collapse of the asset backed commercial paper market. Seven securities firms have agreed to pay a total of $138.8 million in administrative penalties and investigation costs. The probe centered on the distribution of ABCP issued by Coventree, and was a joint effort undertaken by Quebec’s […]

By Steven Lamb |December 22, 2009

2 min read

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Scotiabank has received a license from the Dubai Financial Services Authority to operate within the financial district of the Gulf emirate. The makes Scotia the first Canadian bank to operate in the Dubai International Financial Centre. “As the DIFC begins to play a more prominent role in the global economy, we are keen to expand […]

By Staff |December 22, 2009

2 min read

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ABCP investors blast settlement, regulators

While the majority of retail asset backed commercial paper investors got 100% of their principal investment back, many believe the firms that sold ABCP have received little more than a slap on the wrist in their settlement with securities regulators. Members of the ABCP Retail Owners Committee argue the $138.8 million in penalties were far […]

By Mark Noble |December 22, 2009

3 min read

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Coal: The upside of the

Please forgive the annual joke, but if Santa leaves a lump of coal in your stocking, you could do a lot worse. High quality hard coking coal will be one of the best performing commodities in 2010, according to Scotiabank. Looking ahead to 2010, the annual contract price for hard coking coal sold to Asia’s […]

By Steven Lamb |December 21, 2009

2 min read

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