Big bank cuts posh perk for low-level advisors
A financial services behemoth has decided to limit a perk just to employees with $1m in assets, sparking fears across the sector..
Macquarie buyout 'not a good thing for the market'
Richardson GMP's deal to acquire Macquarie’s Canadian business is a clear sign of a collapsing industry, says IIAC president Ian Russell.
Big Six eating increasingly large slices of AUM pie
The Big Six are aggressively boosting assets under management. Will the remaining pie be big enough to sustain independent operators?
NYSE partners with ACE on private placement platform
The largest US public exchange has bought a stake in a platform for private placements, saying it will bring greater transparency and efficiency to the process.
Manulife gets green light to offer federal PRPPs
The Office of the Superintendent of Financial Institutions (OSFI) has licensed issued Manulife Financial a license to administer federal Pooled Registered Pension Plans, making it the first Canadian company to do so.
If it’s Rosh Hashanah, sell. Yom Kippur, buy. On Chinese New Year…
New research has provided a bit of empirical basis for a piece of old Wall St. lore: major Jewish holidays do affect stock markets.
Facebook generation 'Like' alternative investments
Elite Millennial investors – those with $1m or more in investible assets – are keen on alternative investments and private equity. But in Canada, this particular niche may be too small to focus on.
What IIROC's 'lost device' really costs...
IIROC estimates costs of $5.2 million from the loss of a device containing data on member firms' clients, but at the same time it notes it could be on the hook for considerably more through settlement.
Another threat for mutual fund 'guys'?
As the Big Six grow their wealth businesses, they are increasingly in a position to push multi-service offerings. Should mutual-fund guys be worried?
OSC fines fraudster's wife +$500,000
The OSC has reached a settlement with the common-law wife of a convicted fraudster who had lost more than $3.6 million in investor funds.