Industry News

Decorative pattern

Briefly:

(October 2, 2003) BMO Investments Inc. has announced its intention to merge several of its funds and rename its “BMO Global Opportunities Class” as “BMO Global Equity Class,” pending regulatory and fundholder approval. Affected funds include BMO Far East Fund and BMO Latin American Fund which will be merged into BMO Emerging Markets Fund. BMO […]

By Staff |September 29, 2003

6 min read

Decorative pattern

Manulife’s U.S. power play includes Canadian prize

(September 29, 2003) Dig beneath the mega-dollar headlines relating to Manulife Financial’s proposed takeover of Boston’s John Hancock Financial Services and you’ll find the deal also includes Maritime Life, a subsidiary of Hancock since 1969. If the agreement is approved, the Maritime name will essentially disappear as the Halifax-based firm is merged into Manulife’s Canadian […]

By Doug Watt |September 29, 2003

3 min read

Decorative pattern

Blockbuster deal for Manulife

(September 29, 2003) Manulife Financial has announced a friendly $15 billion takeover bid for Boston-based John Hancock Financial Services, which would make Manulife the second-largest life insurance company in North America. The merged firm would be based in Toronto with Manulife’s Dominic D’Allesandro as CEO. John Hancock CEO David D’Allesandro, who is not related to […]

By Staff |September 29, 2003

2 min read

Decorative pattern

Briefly:

(September 26, 2003) Canada’s net worth moved higher in the second quarter, according to Statistics Canada, posting a gain of 1.3% to hit $3.9 trillion, or $129,000 per capita. National wealth grew at a slower rate, from 1.7% in the first quarter to 1.5% in the second, due to a sluggish economy, the agency said. […]

By Staff |September 29, 2003

6 min read

Decorative pattern

Report casts doubt on corporate governance cost savings

(September 25, 2003) Proposed new corporate governance rules may not result in the billions of dollars in savings predicted by Ontario’s securities regulator. In fact, the costs of implementing the rules could outweigh the benefits, says the British Columbia Securities Commission (BCSC). Earlier this year, the Canadian Securities Administrators (CSA) released three new “made in […]

By Doug Watt |September 29, 2003

2 min read

Decorative pattern

Canadian fund trading scams unlikely, consultant says

(September 26, 2003) A mutual fund trading scandal that has been called a “black eye” for the U.S. fund industry probably could not happen in Canada, according to a well-known industry consultant. Earlier this month, Canary Capital agreed to pay $30 million US in restitution and a $10 million US fine following an investigation by […]

By Doug Watt |September 29, 2003

2 min read

Decorative pattern

Blockbuster deal for Manulife

(September 29, 2003) Manulife Financial has announced a friendly $15 billion takeover bid for Boston-based John Hancock Financial Services, which would make Manulife the second-largest life insurance company in North America. The merged firm would be based in Toronto with Manulife’s Dominic D’Allesandro as CEO. John Hancock CEO David D’Allesandro, who is not related to […]

By Staff |September 29, 2003

2 min read

Decorative pattern

Canadian fund trading scams unlikely, consultant says

(September 26, 2003) A mutual fund trading scandal that has been called a “black eye” for the U.S. fund industry probably could not happen in Canada, according to a well-known industry consultant. Earlier this month, Canary Capital agreed to pay $30 million US in restitution and a $10 million US fine following an investigation by […]

By Doug Watt |September 26, 2003

2 min read

Decorative pattern

Looking for a few good advisors: Richardson Partners prepares to open its doors

(September 26, 2003) Canada’s newest investment dealer will officially open for business next week. Richardson Partners Financial, a Winnipeg-based boutique firm focused on the high-net-worth market, hopes to add 150 blue chip advisors to its team over the next two years. “Our Winnipeg office will be open in October and the Toronto office will be […]

By Doug Watt |September 26, 2003

2 min read

Decorative pattern

Report casts doubt on corporate governance cost savings

(September 25, 2003) Proposed new corporate governance rules may not result in the billions of dollars in savings predicted by Ontario’s securities regulator. In fact, the costs of implementing the rules could outweigh the benefits, says the British Columbia Securities Commission (BCSC). Earlier this year, the Canadian Securities Administrators (CSA) released three new “made in […]

By Doug Watt |September 25, 2003

2 min read

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