Industry

IIROC slaps ex-advisor with $1 million fine

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has fined Mark Allen Dennis more than $1 million after finding that he misappropriated a client’s money and failed to co-operate with IIROC’s investigation. In issuing its decision, the panel imposed a penalty of: • $1 million fine for the misappropriation; • $25,000 […]

By Staff |June 16, 2011

1 min read

China to decelerate in coming months

Chinese economic growth may moderate further in the coming months due to weak exports. The Conference Board, the leading economic index for China, said that its leading indicator for Chinese economy rose 20 basis points month-on-month to 154.5 in April, slower than a 90 basis points increase in March. Conference Board economist Bill Adams said […]

By Staff |June 16, 2011

2 min read

India’s Central Bank raises rates to curb inflation

The reserve bank of India tightened its monetary policy once again, the tenth rate hike since March 2010, in an attempt to contain spiralling inflation. The repo, the rate at which the RBI lends, was raised by a quarter point to 7.5%. The reverse repo, the rate at which the central bank borrows from banks, […]

By Staff |June 16, 2011

1 min read

Shielding portfolios against next Sino-Forest

It’s certainly no easy task for advisors to avoid portfolio bombs like Sino-Forest Corp. and Armtec Infrastructure Inc., both of which lost over 80% of their value recently. The reasons for the losses are different, but the pain is still the same. Up until mid-April, Sino-Forest stock (TRE) was humming along quite nicely. It had […]

June 16, 2011

6 min read