Industry

Decorative pattern

Cartier Partners said to be entertaining several acquisition bids

(September 22, 2003) With Assante and TWC Financial now off the consolidation table, industry attention is now turning to Cartier Partners Financial Group, with several bidders said to be vying for the Montreal-based financial planning firm. In May, the Caisse de dépôt et placement du Québec announced it was divesting its stake in Cartier. The […]

By Doug Watt |September 22, 2003

2 min read

Decorative pattern

Berkshire-TWC partnership viewed as

(September 19, 2003) A merger agreement that will see two of Canada’s independent financial planning firms join forces is being viewed as a natural fit by industry analysts and is being welcomed by advisors. Yesterday, Ontario-based Berkshire and Saskatchewan’s TWC Financial announced they were teaming up to create a firm with more than 1,000 advisors […]

By Doug Watt |September 19, 2003

3 min read

Decorative pattern

Tom Rice named 2003 Career Achievement Award winner

(September 19, 2003) After a 35-year career and numerous successes in the financial services industry, Tom Rice has reached the stage where he doesn’t need to work anymore. And although he stepped down as CEO of Rice Financial, the firm he founded, earlier this year, Rice is staying on as chair of Rice Capital Management, […]

By Staff |September 19, 2003

4 min read

Decorative pattern

CSA: Most firms behind schedule on STP

(September 19, 2003) Only half of market participants believe they are prepared to adopt straight-through processing (STP), but they might be over-optimistic, according to a survey by the Canadian Securities Administrators (CSA). The survey showed 52% of respondents said they were ready to switch to a fully automated system of processing securities transactions, but when […]

By Steven Lamb |September 19, 2003

1 min read

Decorative pattern

Briefly:

(September 17, 2003) Morgan Stanley has been slapped with a $2 million fine by U.S. regulators for conducting prohibited mutual fund sales contests. The National Association of Securities Dealers (NASD) says Morgan Stanley offered incentives, such as event tickets and resort trips, to reward brokers and managers who sold the firm’s in-house funds. “It is […]

By Staff |September 18, 2003

4 min read

Decorative pattern

BCSC chair: Nothing will come from

(September 17, 2003) Taking an “all or nothing” approach to harmonizing Canada’s patchwork of securities regulators is a good way to end up with nothing, according to British Columbia Securities Commission (BCSC) chair Doug Hyndman. Instead, Canada should adopt the “passport model,” he recommended in a speech to the Economic Club of Toronto today. “I […]

By Steven Lamb |September 18, 2003

3 min read

Decorative pattern

Berkshire joins forces with TWC Financial

(September 18, 2003) A long-rumoured merger deal involving TWC Financial became official today with the announcement that the Saskatchewan-based fund dealer is teaming up with Ontario’s Berkshire Group, owned by Michael Lee-Chin. The new partnership is described as a “business agreement” — no financial details were released. In a news release, Lee-Chin, who also runs […]

By Doug Watt |September 18, 2003

2 min read

Decorative pattern

BCSC chair: Nothing will come from

(September 17, 2003) Taking an “all or nothing” approach to harmonizing Canada’s patchwork of securities regulators is a good way to end up with nothing, according to British Columbia Securities Commission (BCSC) chair Doug Hyndman. Instead, Canada should adopt the “passport model,” he recommended in a speech to the Economic Club of Toronto today. “I […]

By Steven Lamb |September 17, 2003

3 min read

Decorative pattern

TWC set to announce merger deal, sources say

September 16, 2003) Saskatchewan-based mutual fund dealer TWC Financial is actively seeking a strategic partnership with another financial firm, industry sources say, and an agreement could be in place before the end of the month. There’s been nothing official from TWC but insiders say the firm, with about $4 billion in assets and 400 advisors […]

By Doug Watt |September 16, 2003

3 min read

Decorative pattern

Big investors offer guidelines for corporate boardrooms

(September 16, 2003) The Canadian Coalition for Good Governance (CCGG) has released a set of 12 guidelines it hopes to see adopted by Canada’s largest publicly traded companies. “The guidelines issued by the coalition raise the bar for good governance standards in Canada,” said chair and former federal finance minister Michael Wilson. “And as shareholders […]

By Steven Lamb |September 16, 2003

2 min read

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