Industry News

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(August 27, 2007) The Charter Life Underwriters Institute has announced that Cynthia Bowden will serve a second term as chair of the board of trustees, following the group’s annual general meeting in Banff, Alberta, last week. “It’s a real honour to serve another term as chair of the CLU Institute Board,” Bowden said in a […]

By Staff |August 27, 2007

3 min read

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Clients receive too much paperwork, says IIAC

There’s nothing more frustrating for advisors and clients alike than being buried beneath a growing pile of disclosure documents. At least that’s what the Investment Industry Association of Canada thinks. Recently, the IIAC sent a letter to Jean St-Gelais, president of both the Canadian Securities Administrators and Quebec’s Autorité des marchés financiers, decrying the “excessive […]

By Bryan Borzykowski |August 27, 2007

3 min read

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(August 24, 2007) In a sign that the money market liquidity crisis may already be abating, French bank BNP Paribas has announced that it will resume trading in the three funds it suspended from redemptions on August 7. Valuations, sales and redemption will resume on August 28 for ABS Euribor and ABS Eonia, while Parvest […]

By Staff |August 24, 2007

3 min read

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Liquidity crisis eases in paper market

(August 24, 2007) There are signs that the liquidity crunch for third-party asset-backed commercial paper (ABCP) may be easing, as the company behind the securitized debt has managed to find buyers for its latest issuance. Coventree Inc., the structured finance firm at the centre of the Canadian liquidity crunch in asset-backed commercial paper, has announced […]

By Steven Lamb |August 24, 2007

3 min read

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(August 23, 2007) Half of Canadians do not know what factors can affect their credit score, according to a survey conducted on behalf of the Financial Consumer Agency of Canada, despite the near universality of credit facilities, ranging from credit cards to lines of credit. The study also found that only 15% had requested a […]

By Staff |August 23, 2007

3 min read

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ABCP risk overblown?

DundeeWealth joins the growing list of financial services firms that have had to admit that they have significant holdings of out-of-favour asset-backed commercial paper. It also said none of the mutual funds of Dundee’s subsidiary Dynamic Mutual Funds has any exposure to ABCP or CDO subprime exposure. Earlier this week, National Bank bought back more […]

By Mark Noble |August 23, 2007

3 min read

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(August 22, 2007) AIM Trimark has announced the impending departure of high-profile fund manager Geoff MacDonald, best known for managing the equity portions of three income oriented funds and the Trimark Canadian Endeavour Fund. “Geoff MacDonald has been a talented investor and mentor of people at AIM Trimark,” says Tye Bousada, lead portfolio manager of […]

By Staff |August 22, 2007

2 min read

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Further reassurances offered on commercial paper

Canadian financial institutions continue to reassure the public that their investments are stable and safe, as another firm announced it would buy back potentially illiquid asset-backed commercial paper from its money market funds. Industrial Alliance is the latest firm to assume the risk associated with these investments, promising to pay 100% of their purchase price […]

By Steven Lamb |August 22, 2007

2 min read

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Banks go online to secure

The over-45 crowd may be where the money is right now, but Canada’s banking industry is turning its focus to recruiting customers while they are still in school to establish their brand and create lifelong clientele for their products. The country’s two largest banks have determined that one of the key mediums through which to […]

By Mark Noble |August 22, 2007

4 min read

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(August 21, 2007) It had to happen — a Canadian bank is now on Facebook, the popular social networking website. Declaring itself to be the “first Canadian financial institution” to engage students through such a site, TD Canada Trust has opened the TD Money Lounge. “Many students spend a lot of time in online social […]

By Staff |August 21, 2007

4 min read

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