Industry News

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(January 8, 2008) The global credit crunch isn’t good news for anyone, especially Toronto-based rating agency DBRS. The company shut down its three European offices on Tuesday. The closures affect 43 people in Frankfurt, Paris and London. DBRS says coverage of European credit would be done from North America, just as it was before the […]

By Staff |January 8, 2008

3 min read

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Stick with the TSX in 2008: Rubin

Just because the American economy is in turmoil doesn’t mean investors should turn their backs on Canada as well. In fact, the Toronto Stock Exchange is still a good place to park investment dollars, according to Jeff Rubin, chief strategist and chief economist at CIBC world markets. The popular economist says the resource and energy […]

By Bryan Borzykowski |January 8, 2008

3 min read

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Thow’s compliant clients no excuse for poor investigation: MFDA

It seems that disgraced advisor Ian Thow bribed clients by returning their investment money if they agreed to retract any complaints. Nevertheless, the MFDA says Thow’s dealer, Berkshire Investment Group, still should have conducted a comprehensive investigation into his activities. Late on Monday, the MFDA issued its rationale for the December settlement with Berkshire which […]

By Mark Noble |January 8, 2008

4 min read

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It’s official: Radlo joins CI

The rumours have been circulating since October, but the official word came down Monday: Alan Radlo is joining CI Investments. “CI’s strategy is to offer the widest choice of top-ranked portfolio management teams, and we are pleased to retain a manager with the stature and expertise of Alan Radlo,” said Peter W. Anderson, chief executive […]

By Steven Lamb |January 7, 2008

3 min read

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(January 7, 2008) DundeeWealth has announced an agreement to sell 90% of its New York–based subsidiary DFG Investment Advisors to Kym Anthony, chair of DFGIA, and a small group of DFGIA employees. The firm was set up less than a year ago to manage structured credit assets for Dundee Bank of Canada. Dundee Bank was […]

By Staff |January 7, 2008

3 min read

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Canadian M&A stays strong, while IPOs falter

Last year wasn’t all doom and gloom for the financial industry — M&A activity had a record-breaking 2007. A new report by KPMG reveals that the Canadian M&A sector saw more than 2,000 transactions, a first for the industry and an increase of 16% over 2006. “Canadians got the message that they either have to […]

By Bryan Borzykowski |January 7, 2008

4 min read

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CIBC shakes up head office

In the wake of a potential multibillion-dollar write-down on its sub-prime exposure, CIBC has rung in the New Year by handing out a few pink slips to some of its senior management, replacing them with some industry heavyweights, including Richard Nesbitt, the CEO of TSX Group. CIBC announced early Monday that two of its most […]

By Mark Noble |January 7, 2008

3 min read

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(January 4, 2008) A securities firm has learned it’s better to pay up than hold out, at least when it comes to registering with the British Columbia Securities Commission. Dorchester Investment Management, a firm that is registered in Quebec and Ontario, will have to pay more than twice the BCSC’s required registration fee after it […]

By Staff |January 4, 2008

2 min read

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Analysts predict bumpy market ride

Advisors looking for some consensus on where to allocate their client assets are probably going to want to steer clear of financial stocks, according to 2008 market forecasts presented at the Empire Club in Toronto. Other than that, this year’s markets, like last year’s, will likely provide a wild ride. It seems the big X-factor […]

By Mark Noble |January 4, 2008

5 min read

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Crocus investors reach first deal

Investors in the Crocus Investment Fund have reached a settlement in the first round of a $200 million class action suit over the failed labour-sponsored fund. A deal has been reached with Chubb Insurance Company of Canada, which represents the former officers and directors of the fund, in which the staff’s names will be dropped […]

By Steven Lamb |January 4, 2008

2 min read

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