Industry News

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(October 11, 2006) Goodman & Company, the investment management division of Dundee Wealth Management, will be converted into an income trust. Dundee’s board of directors announced the proposal late Tuesday. “Management and the board of directors believe that an income trust structure would create benefits for shareholders of Dundee Wealth and offer a capital structure […]

By Staff |October 11, 2006

3 min read

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Wealth grows fastest in emerging markets

The number of high-net-worth individuals surged last year, but with a marked shift in where those wealthy folk are located, according to the 10th annual Capgemini/Merrill Lynch World Wealth report. The annual survey of global affluence defined HNWI as individuals “with net financial assets of at least $1 million US, excluding their primary residence and […]

By Steven Lamb |October 11, 2006

3 min read

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CI announces Shannon’s replacement

CI Investments has officially named a replacement manager for its flagship CI Canadian Investment Fund, following last week’s abrupt departure of Kim Shannon. The fund is being handed off to Daniel Bubis, president and chief investment officer of Winnipeg-based Tetrem Capital Partners. “Daniel Bubis is a well-known, top-ranked manager who meets the high expectations of […]

By Steven Lamb |October 10, 2006

4 min read

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(October 10, 2006) The British Columbia Securities Commission is following the lead of its neighbour, issuing sanctions against a man who was jailed in Alberta. Thomas Kim Seto of Edmonton is barred from trading securities and cannot be a director or officer of any publicly-traded company in B.C. until 2017. In 2000, the Alberta Securities […]

By Staff |October 10, 2006

2 min read

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(October 6, 2006) Through new agreements with Swiss Re, RGA and new capacity recently developed by Munich Re, Sun Life Financial says it is now offering the highest amount of new individual life insurance coverage in Canada for the large-case market. The company says it is now able to handle individual life insurance policies up […]

By Staff |October 6, 2006

3 min read

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Charles Brandes’ forecast follies

Holding a roast for forecasters did not formally appear as an item in the program for this week’s meeting of the Toronto CFA Society, but members got precisely that from Charles Brandes, president of San Diego, Calif.-based Brandes Investment Partners. Speaking at the CFA Society’s annual forecast dinner, Brandes set the tone — or perhaps […]

By Al Emid |October 6, 2006

3 min read

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Ontario not giving up on single regulator

Ontario’s Minister of Government Services says Alberta and other provincial jurisdictions need to have their worries and needs addressed before a single securities regulator for the country can be established. “I think what Alberta very much worries about in a common regulator is they don’t want to see something that’s Ontario-centric or something that doesn’t […]

By Gavin Adamson |October 6, 2006

3 min read

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(October 5, 2006) Michael Lee-Chin is handing over the chief executive officer position at AIC to Jonathan Wellum, the fund company’s chief investment officer. Lee-Chin will say on as AIC chair, as well as chair of the firm’s sister companies, including Berkshire. Lee-Chin made the announcement Wednesday night at a gala event marking AIC’s 20th […]

By Staff |October 5, 2006

3 min read

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Viatical company ordered to cease trading

The Ontario Securities Commission has ruled that viatical products offered by Universal Settlements International are securities and has issued a cease-trade order against the Kitchener, Ont.-based company. In a decision released last week, the OSC ordered that USI permanently cease trading in the controversial products until the company either fulfills the province’s registration and prospectus […]

By Doug Watt |October 5, 2006

2 min read

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This is the modern world

Cost/benefit analysis of any new securities rules A review of the rules, jurisdictions and powers of self regulatory organizations as they relate to the enforcement of securities industry standards and the assessment of penalties A review of the rules, jurisdictions and powers of self regulatory organizations as they relate to the enforcement of securities industry […]

By Philip Porado |October 5, 2006

3 min read

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