Industry News

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Briefly:

(August 20, 2008) It looks like the asset-backed commercial paper saga is set to continue, as Ivanhoe Mines plans to appeal an Ontario court’s decision to allow a plan that would turn $32 billion of frozen paper to longer-term notes. Under the plan, affected companies like Ivanhoe, which held $70.7 million in ABCP, cannot sue […]

By Staff |August 20, 2008

2 min read

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Aiming for gold

While asset managers and advisors are loathe to diminish the tremendous fortitude, skill and determination required of a podium finish at the Olympics, a few precious metal advocates believe that the strong Olympic finishes are one way to alert the keen eye of a savvy investor to an investment opportunity. Even as Canadian athletes continue […]

By Romana King |August 20, 2008

3 min read

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Proposed IIROC rule too lax: FPSC

minimum levels of work experience a standardized examination continuing education; and a code of conduct or ethics “Rather than recognizing that, IIROC has simply listed four certifications that they believe meet their own requirements,” he says. “Several of them don’t necessarily have the components of what goes into true professional certification.” As drafted, the proposed […]

By Steven Lamb |August 20, 2008

4 min read

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Court upholds ABCP ruling

The Ontario Court of Appeal has upheld a lower court’s approval of the third-party asset-backed commercial paper (ABCP) restructuring plan. In its decision, the Court of Appeal said it “ought not to interfere” in the decision “that the plan is fair and reasonable in all the circumstances.” Since June 5 — when the Ontario Superior […]

By Craig Sebastiano |August 19, 2008

2 min read

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By The Book:

(August 19, 2008) An MFDA hearing panel has issued reasons for its decision in an August 6 settlement with Patrick Sullivan. Sullivan, a 37-year industry veteran, had been a director of British Columbia–based All Island Equity Mortgage Investment Corporation (AIEMIC), with the full knowledge of his firm, IQON. He had agreed to limit his participation […]

By Staff |August 19, 2008

1 min read

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Briefly:

(August 19, 2008) A record 92,000 candidates, globally, sat the June exams on the road to earning a CFA charter, with a total pass rate of 42%, according to the CFA Institute. The United States was home to the largest cohort, with 28,306 candidates taking one of the three exams, with a combined pass rate […]

By Staff |August 19, 2008

2 min read

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Advocis updates RHU designation

Government statistics around the globe reveal an aging population that is projected to trigger significant economic dilemmas — including long-term health care costs. In an effort to alleviate the burden of health care costs among an aging population, Advocis, the Financial Advisors Association of Canada, updated the Registered Health Underwriter (RHU) designation, which enables financial […]

By Romana King |August 19, 2008

3 min read

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ABCP decision a mixed blessing for investors

Monday night’s decision by the Ontario Court of Appeals allowing the asset-backed commercial paper restructuring plan to proceed was a mixed blessing for investors. The deal, hammered out by the Pan-Canadian Investors Committee, allows retail investors who bought less than $1 million of ACBP to get all their money back, while institutions and individuals who […]

By Bryan Borzykowski |August 19, 2008

4 min read

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(August 18, 2008) The U.S. housing market, already bearing the brunt of the economic slowdown, has yet to hit bottom, according to a report from Scotia Economics. While there are sporadic reports of increasing sales activity in some regions, and the pace of the decline seems to have slowed, the market could take another hit […]

By Staff |August 18, 2008

2 min read

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By The Book:

(August 18, 2008) The Investment Industry Regulatory Association of Canada has issued notice of a hearing in Vancouver into the actions of Yuan Jun Fan, at the time a registered representative with the Vancouver Park Place Branch of RBC Dominion Securities. The respondent allegedly engaged in an off-book securities transaction with a client (G.L.) that […]

By Staff |August 18, 2008

1 min read

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