Industry

Briefly: ‘AMF teams with United Arab Emirates’ and more news

The Québec Autorité des marchés financiers (AMF, the Emirates Securities and Commodities Authority (ESCA), the agency responsible for ensuring efficient securities markets in the United Arab Emirates,entered into a co-operation agreement. The purpose of this agreement is to set up and implement a system for mutual assistance and exchange of information between the ESCA and […]

By Staff |June 10, 2010

1 min read

Best of 2010: Profits may be worthless, Klarman says

Speaking at the CFA Institute’s annual conference in Boston, Seth Klarman, founder and president of the Baupost Group, and author of the much-sought-after Margin of Safety, opined that earning money is the easy part, but that ensuring U.S.-dollar denominated profits retain their value may become a challenge. The following story appeared in our Top Minds […]

By Steven Lamb |June 9, 2010

4 min read

Predatory trading

It happens to every trader: you place a bid for a thousand shares of thinly traded stock at a nickel above the best bid showing, and before you can blink, there’s another bid a penny in front of you. While desirable from a capital markets perspective – the bid/offer spread is, after all, declining, which […]

By James Hymas |June 9, 2010

8 min read

Briefly: ‘IIROC fines advisor’ and more news

An IIROC hearing panel has imposed a fine of $36,500 against James Jannetta and has required him to pay costs of $15,000 for numerous breaches of IIROC’s business conduct. The panel found that Jannetta failed to record or update client investment objectives and risk tolerance in two client accounts and engaged in discretionary trading in […]

By Staff |June 9, 2010

3 min read