Industry News

Never too early for succession plans: BMO

Creating a will—while important for any client—is particularly critical for business owners. And more than one-third of Canadian small business owners are actively putting a succession plan in place, says a BMO study released today, which is a significant increase from the 15% who reported having a plan in 2010. Read: Small businesses lag on […]

By Staff |July 19, 2012

2 min read

Regulators probe four major banks

The LIBOR rate probe has turned its focus to Crédit Agricole, HSBC, Deustche Bank and Société Générale, reports Financial Times.

By Staff |July 19, 2012

1 min read

HSBC should lose U.S. banking license: Levin

In 2002, HSBC purchased Grupo Financiero Bital—a Mexican lender lacking a compliance department at the time. Five years later, the head of the British giant’s Latin America compliance department, voiced his frustration and concerns about the Mexico unit overseeing the acquired company’s activities, reports Financial Times. Read: HSBC in talks to sell Latin American units, […]

By Wire services |July 19, 2012

2 min read

Canadians crush their consumer debt

Growth of Canadian non-mortgage debt has dropped 30% over the last year, says Equifax Canada’s National Credit Trends report. The report states credit card balances are decreasing, while other credit products such as bank loans and lines of credit showed only moderate growth compared to 2011 levels. Total consumer non-mortgage indebtedness in Q2 2012 increased […]

By Staff |July 19, 2012

1 min read