Industry

MFDA settles with Laurier Capital Planning

A settlement hearing in the matter of Laurier Capital Planning Inc. was held in Calgary, Alberta before a hearing panel of the MFDA’s Prairie Regional Council. After hearing submissions from counsel, the hearing panel accepted the settlement agreement between MFDA staff and the respondent, as a consequence of which the respondent has paid a fine […]

By Staff |April 29, 2011

1 min read

RBC GAM closing two global sector funds

RBC Global Asset Management announced today the upcoming closure of the RBC Global Consumer and Financials Fund and the RBC Global Health Sciences Fund effective end of day June 27, 2011. The funds will be closed to new purchases effective end of day June 20, 2011. The funds’ low levels of assets have presented challenges […]

By Staff |April 29, 2011

1 min read

Canadian anti-money laundering laws need update

In May, the B.C. Supreme Court heard the Finance Department’s challenge to the decade-old ruling on the reach of anti-money laundering legislation in Canada, and industry execs predicted the outcome would affect advisors. The original version of the Proceeds of Crime (Money Laundering) Act, which gave birth to FINTRAC, was adopted in July 2000. Following […]

By Dean DiSpalatro |April 28, 2011

5 min read

IIROC fines, bans Michael Thomas Jones

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed a penalty on Michael Thomas Jones which includes a permanent ban from registration in any capacity with an IIROC-regulated firm. The panel’s decision, based on an agreed statement of facts and violations, found Mr. Jones was liable of misappropriating funds from […]

By Staff |April 28, 2011

1 min read