An Ontario court has rubber-stamped KPMG’s request to place Portus Alternative Asset Management into bankruptcy, bringing investors a step closer to retrieving at least some of their money. Still, those investors will have to wait until June 21 for their first meeting. There were no Portus representatives in attendance to oppose the motion when Justice […]
Investors in Alberta, Quebec and Ontario will want to pay close attention to budgets in those provinces due out this week if they’re banking on the federal government’s promise to eliminate the double taxation of dividends. Starting Wednesday, investors will get their first indication whether the three provinces are going to follow Ottawa’s lead announced […]
Everyone likes to think they’re ready for the disaster they hope will never come. But investment dealers who aren’t prepared could face the ire of the IDA if they don’t have business continuity plans in place by July 31. The good news is the financial services sector appears to be taking the message to heart. […]
The IDA has quietly launched an appeal of a Saskatchewan hearing panel decision that threatens to unravel the regulator’s power to discipline its former members. Although the case has attracted little public attention, it could force Canada’s securities commissions to act if the IDA loses. Last month, a Saskatchewan Financial Services Commission hearing panel determined […]
Anyone who’s watched a hedge fund blow up has asked the question: should investors have seen it coming? Gary Witt, a senior vice president and credit officer at Moody’s Investors Service, certainly has and the answer, more often than not, is yes. Come April, investors may not have to ask that question as often. Moody’s […]
Given the run the S&P/TSX Composite has had in the past year, it’s easy to forget that the TSX Venture Exchange performed just as well. After all, why invest in riskier stocks when you can invest in more established large caps? As Linda Hohol points out, Canada’s junior market isn’t as wild as some might […]
With just eight months on the job, the new head of the Alberta Securities Commission (ASC) isn’t ready to be pinned down on whether he thinks it’s time to pursue a national regulator. But without tipping his hand, Bill Rice seems to favour limited reforms like the passport system over the more ambitious uniform securities […]
While Canada looks like it’s in for another strong year, Standard & Poor’s is warning that the conditions that led to the rapid growth in 2005 are starting to fray. In other words, 2006 may be fine but 2007 is another story. On the one hand, unanticipated inflation increases due to higher commodity prices and […]
Sometimes getting a reduced benefit pension plan is better than no plan at all. This is the tough reality some pensioners may have to face going forward according to Nicholas Le Pan, head of the Office of the Superintendent of Financial Institutions (OFSI). OFSI has seen a marked increase in the number of plans seeking […]
Regulators in Saskatchewan have ruled that the IDA does not have the right to bring disciplinary action against brokers after they have left the industry. This is a major setback for the IDA, which has been looking to the provincial securities commissions to back its enforcement efforts. The case dates back 10 years, and involves […]