Industry News

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(December 12, 2007) An Ontario court has cleared the way for investors who hold Portus notes in a registered account to sell the notes to a third party without triggering a taxable event. The motion to allow investors to sell their claim on Portus’s assets was submitted by lawyers for KPMG, the receiver in the […]

By Staff |December 12, 2007

3 min read

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Donor-advised funds growing rapidly

The Canada Revenue Agency isn’t exactly Santa Claus, but federal tax changes that eliminated the capital gains tax on donated securities have kicked the season’s spirit of giving into high gear. In particular, donor-advised charitable giving funds are growing at a torrid pace this holiday season. TD Waterhouse’s Private Giving Foundation — the first donor-advised […]

By Mark Noble |December 12, 2007

1 min read

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No buyers left for DundeeWealth?

If its stock price is any indication, it appears the much hyped auction of DundeeWealth is already over, with no bidders willing to pay what it would cost to buy the company. The Globe and Mail reported late yesterday that discussions between DundeeWealth and its last interested suitor, the Bank of Nova Scotia, amicably ended […]

By Mark Noble |December 12, 2007

2 min read

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CI appears set to welcome Radlo

Alan Radlo, the popular fund manager who left Fidelity Investments in December 2006, could soon pop up in the Canadian market once again. A report from CIBC World Markets analyst Stephen Boland says that recent regulatory filings by CI Investments match Radlo’s style and that it is a virtual certainty that he will be named […]

By Steven Lamb |December 12, 2007

2 min read

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(December 11, 2007) The founder and former president of Norbourg Asset Management, has been convicted of 51 counts of fraud in a Montreal court. Vincent Lacroix was accused by l’Autorite des marches financiers (AMF) of making 134 “irregular” withdrawals from the fund he operated, totalling $115 million. In handing down the verdict, Quebec court Judge […]

By Staff |December 11, 2007

4 min read

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Emerging markets to remain robust: GGOF

Despite rising inflationary pressures, emerging markets will continue to be the place to park those long-term investments, according to Guardian Group of Funds. Speaking on a conference call Tuesday, David Harding, managing director, said that while emerging market economies are still seeing rapid growth, rising inflation could slow things down. “That’s the one thing that […]

By Bryan Borzykowski |December 11, 2007

3 min read

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Let’s talk about currency

The strength of the Canadian dollar has been front page news in the media in 2007 and rightfully so. The Canadian dollar’s appreciation in 2007 has been rapid, since the currency is closely tied to the weakness of the U.S. dollar and strong commodity prices. As well, more international assets are finding their way onto […]

By Staff |December 10, 2007

1 min read

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Market merger:

Citing a need to be bigger in a more globally competitive market, TSX Group and the Montreal Exchange have agreed to consolidate their operations to form TMX Group. TSX Group will pay roughly $1.3 billion for the MX, offering half a common share of TSX Group and $13.95 in cash for each MX share. Officials […]

By Mark Noble |December 10, 2007

5 min read

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(December 10, 2007) On Monday, Forrester Research revealed which bank website is the best. And the winner is CIBC. Over the past two years, the research company has been evaluating the websites of Canada’s seven largest banks. This year, in a separate study, it also ranked the top five U.S. banks. CIBC’s client website has […]

By Staff |December 10, 2007

2 min read

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(December 7, 2007) A new vice-chair has been appointed to Manulife Financial’s board. Gail C.A. Cook-Bennett took over the post on Tuesday. No stranger to Manulife, Cook-Bennett has been a director since 1978. Her new role will see her assist Arthur Sawchuk, the board’s chair, in managing the board. She was also appointed vice-chair of […]

By Staff |December 7, 2007

2 min read

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