Industry News

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(September 19, 2008) National Bank Financial Group has acquired Retirement Option Group, a financial planning firm with $1.5 billion in assets under management. “This is our fourth and largest transaction since the beginning of 2008,” said Luc Paiement, executive vice-president, wealth management and co-CEO of National Bank Financial. “We have once again confirmed that our […]

By Staff |September 19, 2008

2 min read

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Industry

Equities, energy commodities soar, precious metals pull back

Equity markets around the world have staged major rallies overnight and this morning as moves by the U.S. Treasury and securities regulators in the U.S. and U.K. to limit short selling and to attempt to stabilize the global banking system appear to have been well received by investors. Following on from Thursday’s late-day surge and […]

By Colin Cieszynski |September 19, 2008

4 min read

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Industry

Shorting ban could stall hedge fund activity

While the U.S. government’s ban on short-selling financial stocks has helped boost markets, this temporary plan will put hedge funds in a tough spot, at least until the restriction is lifted on October 2. “Shorting is very much in essence what hedge funds do,” says Pierre Saint-Laurent, president of Toronto-based Asset Council Inc. “It will […]

By Bryan Borzykowski |September 19, 2008

4 min read

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Industry

Supreme Court dismisses ABCP appeal

The Supreme Court of Canada has dismissed a challenge to the restructuring plan for the country’s frozen asset-backed commercial paper (ABCP) market, clearing the way for the restructuring of the $32 billion market. A collection of investors led by Jean Coutu Group had asked to court to hear their appeal, arguing the restructuring plan tabled […]

By Jody White |September 19, 2008

1 min read