Industry News

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CEO compensation starting to match performance: study

Investors are never happy when a company they are invested in underperforms; but they are down right livid when they see the CEO of that same company rewarded with a hefty bonus and stock options. Based on the latest Watson Wyatt Worldwide S&P/TSX CEO Pay Study it seems corporations are finally getting the message. According […]

By Mark Brown |November 30, 2005

2 min read

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Trust rally could still have legs

The past few years have seen an extraordinary explosion among income trusts, as valuations have surged and new issues have come to market either through an initial public offering or through the conversion of existing corporate structures. With market-leading returns, some question whether the rally can be sustained. GGOF’s John Priestman, lead manager of the […]

By Steven Lamb |November 30, 2005

4 min read

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Some Portus investors saved at the last minute

A few investors — unwillingly but luckily — managed to escape Portus Group’s stratagems, according to the most recent report filed by receiver KPMG. Investors, with 30,000 accounts put $738 million CAN and $50 million US into Portus’s purchase of guaranteed notes, of which only $529 million CAN was invested, $133 million CAN and $36 […]

By Scot Blythe |November 29, 2005

2 min read

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Less than 20% of IDA fines paid

In the second last week of November the IDA announced more than $400,000 in fines representing roughly 10% of the monetary penalties it has handed out so far this year. But by the brokerage industry association’s own admission, they will be lucky if they see a fifth of that money. According to the associations’ own […]

By Mark Brown |November 29, 2005

6 min read

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Fiera buying YMG Capital Management

Two of Canada’s independent investment managers are coming together in a takeover which will make them among the largest of their kind in Canada. Fiera Capital Management has reached an agreement to purchase YMG Capital Management for $3.25 per share, a premium of 22% over the recent volume-weighted average. Scotia Capital, serving as advisors to […]

By Steven Lamb |November 28, 2005

2 min read

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Briefly:

(December 2, 2005) The IDA has suspended the membership of iForum Securities. At the same time, the AMF, Quebec’s securities regulator, announced that some of the firm’s assets have been sold. According to the AMF, Industrial Alliance Securities has been successful in its bid for some assets of iForum. A joint bid by Quadrus Investment […]

By Staff |November 28, 2005

12 min read

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IFIC appoints new CEO

In a surprise move, IFIC has reached outside of the mutual fund world for its new president, appointing Joanne De Laurentiis, head of Credit Union Central of Canada. She replaces Tom Hockin, who is retiring. Her appointment takes effective January 16, 2006, IFIC confirmed on Monday in a statement. “I am delighted to welcome Joanne […]

By Doug Watt |November 28, 2005

2 min read

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CDIC aims to increase awareness

The Canada Deposit Insurance Corporation (CDIC) has launched a national public awareness campaign, primarily to remind Canadians that eligible deposits are now covered up to $100,000. This amount was raised from $60,000 in the 2005 federal budget. “It’s simple: Canadians need to know the facts about deposit insurance so they can make informed financial decisions,” […]

By Staff |November 25, 2005

1 min read

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IDA fines Research Capital and CEO

It has been a busy week for the IDA’s enforcement division. Since Monday, it has doled out more than $400,000 in fines and a total of seven years in suspensions, as well as one lifetime ban. The latest in a string of disciplinary actions came Friday when the IDA fined Research Capital and its CEO […]

By Mark Brown |November 25, 2005

3 min read

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Credit Check: Smarter holiday spending

At this time of year, it’s not just advisors who are spreading the message of prudent festive spending. MasterCard Canada is also urging Canadians to practice caution and plan before heading to the malls this holiday season — especially when they’re carrying plastic. According to the credit card company’s vice-president of public affairs, Jennifer Reed, […]

By Heidi Staseson |November 25, 2005

4 min read

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