Industry News

Decorative pattern

On The Shelf:

(April 18, 2008) Mackenzie Financial is making some changes to its Keystone Portfolio Funds and Keystone Partner Funds lineups. The firm will take over the investment management responsibilities for the Keystone AIM Trimark Global Equity Fund on June 16, replacing AIM Funds Management Inc. as the fund’s advisor. At that time the fund will be […]

By Staff |April 18, 2008

1 min read

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Briefly:

(April 18, 2008) Fred Pynn, president and chief investment officer of Bissett Investment Management, will retire from the Calgary-based investment management firm at the end of June, Franklin Templeton Investments announced Friday. The high profile manager is departing the firm after 21 years of managing money there for both retail and institutional clients. Since November […]

By Staff |April 18, 2008

3 min read

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Portus notes

The judge overseeing the bankruptcy of Portus Alternative Asset Management has endorsed the twenty-seventh report of the receiver in the case. Justice Colin Campbell of the Ontario Superior Court of Justice has urged all parties to put the interests of investors first and accelerate the process of liquidating the deposit notes held by Portus’s receiver, […]

By Steven Lamb |April 18, 2008

3 min read

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Briefly:

(April 17, 2008) Canaccord Capital announced Thursday that its asset-backed commercial paper relief program is now in place. The company lodged $138.3 million worth of letters of credit, issued by Canadian chartered banks, with the Royal Bank of Canada. For details and to read other financial services industry updates, click the “full story” button below. […]

By Staff |April 17, 2008

3 min read

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Sustainability hits the bottom line: PwC

The greening of corporate finance can no longer be considered a fast fad or temporary trend, advised a panel of accountants and analysts from PricewaterhouseCoopers during a breakfast seminar on sustainability on Thursday. “Corporate social responsibility is now a mainstream paradigm,” said Peter Johnson, director of the sustainable business solutions practice at PricewaterhouseCoopers (PwC) in […]

By Romana King |April 17, 2008

3 min read

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Portus receiver gets little help from SocGen

The receiver in the bankruptcy of Portus Alternative Asset Management will be in court again on Friday, submitting its 27th report on the failed hedge fund company. In its report, receiver KPMG details its efforts to recover the $529.3 million in assets that Portus invested in 15 notes issued by Société Générale (Canada) (SGC). The […]

By Steven Lamb |April 17, 2008

3 min read

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Briefly:

(April 16, 2008) Accounting agency Ernst & Young is calling on regulators to allow early adoption of International Financial Reporting Standards. The new accounting standard is currently not slated to come into effect until 2011, but E&Y suggests that the Canadian Securities Administrators allow companies to adopt it as early as January 1, 2009. “Right […]

By Staff |April 16, 2008

2 min read

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Fee-based accounts a

In the U.S., the controversial fee-based account has dwindled in popularity, but Canada’s still moving full steam ahead with the non-commission advisory model. Just because our financial industry is still promoting the account, however, doesn’t mean we’re not faced with the same problems that derailed the option down south. At Advisor Group’s Compliance Matters Summit […]

By Bryan Borzykowski |April 16, 2008

4 min read

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Police need power to prosecute economic crime: Wilson

The Ontario Securities Commission is calling on legislators to give police more power to crack down on financial crime. Speaking to an Economic Club of Toronto luncheon on Wednesday, OSC chair David Wilson said, “it’s time to carefully study the idea of giving police some new, but very carefully circumscribed powers to investigate economic crime.” […]

By Bryan Borzykowski |April 16, 2008

2 min read

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On The Shelf:

(April 15, 2008) DundeeWealth has introduced a new corporate class fund that will be distributed in Europe. The Dynamic Investment Fund has six sub-fund offerings — Dynamic Power Canadian Growth Fund, Dynamic Focus & Resource Fund, Dynamic Precious Metal Funds, Dynamic Power American Growth Fund, Dynamic Global Dividend Value Fund and Dynamic Global Discovery Fund. […]

By Staff |April 15, 2008

1 min read

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