Industry News

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(April 10, 2008) The Autorité des marchés financiers has approved TSX Group’s takeover of the Montréal Exchange. “Following our analysis of the Montréal Exchange applications and discussions with TSX Group, we are satisfied with the undertakings we have been given and the expected benefits from the combination,” said AMF president and CEO Jean St-Gelais. St-Gelais […]

By Staff |April 10, 2008

4 min read

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More needs to be done to reduce taxes: Flaherty

While the Conservative government has made strides to lower personal income tax rates for Canadians, it still has a way to go before it’s satisfied, says federal finance minister Jim Flaherty. “We’re reducing taxes, we intend to continue reducing taxes, and we think Canadians pay too much tax,” he said over lunch during a C.D. […]

By Bryan Borzykowski |April 10, 2008

2 min read

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Don’t blame hedge funds for credit crisis: AIMA

Everyone looks for a scapegoat during times of crisis, and for many fed up with the credit crisis, hedge funds are to blame. The Alternative Investment Management Association, however, is taking issue with what it sees as “unwarranted criticism.” “People have been taking pot shots at hedge funds,” says Phil Schmitt, president of AIMA Canada. […]

By Bryan Borzykowski |April 10, 2008

3 min read

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Mystery buyers bail out Canaccord clients

It’s a happy day for the majority of Canadian retail investors who have their money frozen in asset-backed commercial paper — they are getting their money back. With the financial backing of anonymous buyers, Canaccord Capital announced the Canaccord Relief Program to repurchase, at par value, up to $138 million of restructured third-party ABCP from […]

By Mark Noble |April 9, 2008

5 min read

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Commentary: Reputation at risk

(April 2008) There’s a lot of carnage in today’s markets. It stretches far beyond market losses and prudently calculated risks, and actually touches on the notion of trustworthy advice. Sure, there are unexpected illiquidities. Non-bank asset-backed commercial paper is one; Mount Real Corporation promissory notes another. These are investments that apparently fell below the threshold […]

By Scot Blythe |April 9, 2008

3 min read

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(April 9, 2008) Buying long-term care for couples rather than for an individual increases the likelihood the coverage will be used, Manulife Financial says. Manulife Financial says research by reinsurance company Munich Re shows that two 60-year-olds who form a couple have an 81.5% chance that at least one of them will require long-term care […]

By Staff |April 9, 2008

4 min read

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To Clients: Managing debt

Dear [Client’s name]: Spring has finally arrived and warmer weather is just around the corner. At this time of year, many of us start to think about home renovations, garden projects and summer vacations. But while we often know what we want to accomplish, sometimes we are not sure where the money will come from. […]

By Staff |April 8, 2008

2 min read

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(April 8, 2008) The Pan-Canadian Committee for Third-Party Structured Asset-Backed Commercial Paper revealed Tuesday that satellite trusts of Structured Asset Trust Series E and Structured Investment Trust III Series E have reached an agreement with CIBC related to the termination of three CIBC credit default swaps. The agreement on the swaps was a condition of […]

By Staff |April 8, 2008

3 min read

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On The Shelf:

(April 8, 2008) Manulife Mutual Funds revealed Tuesday that one of its high-ranking employees has left the firm. Timothy Keefe, executive vice-president and chief equity officer for MFC Global Investment Management, was responsible for the Manulife Global Opportunities Class, Manulife Global Real Estate Fund and Manulife Global Natural Resources Fund. Several managers will share responsibility […]

By Staff |April 8, 2008

1 min read

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America still weak, but no global recession: Vaillancourt

Despite a major slowdown in the American economy, we’re not seeing a global recession, says a senior Franklin Templeton executive. Paul Vaillancourt, senior vice-president and director of portfolio strategy for Fiduciary Trust Company of Canada, the high-net-worth division of Franklin Templeton Investments, says an economic decoupling from the U.S. has saved the rest of the […]

By Bryan Borzykowski |April 8, 2008

4 min read

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