Industry News

Charges finally laid in $100 million Ponzi

It’s been no secret for a number of years that two Alberta-based investment boosters, Milowe Brost and Gary Sorenson were probably up to no good. It’s only now, that the RCMP has laid charges against both men, for perpetrating a Ponzi scheme in excess of $100 million, potentially the largest Ponzi scheme in Canadian history. […]

By Mark Noble |September 15, 2009

4 min read

Fund investors returning to risk

The mutual fund industry was hit with another month of net redemptions, totaling $462.6 million in August. Investors pulled a net $2.26 billion out of money market funds, but invested a net $1.8 billion in long-term funds. So far this year, net long-term fund sales have totaled $7.8 billion, compared to net redemptions of $1.6 […]

By Steven Lamb |September 15, 2009

2 min read

Briefly:

National Bank Financial Group announced today the launch of Private Wealth 1859, a new business unit that caters solely to the needs of affluent clients with investable assets of at least $1 million. Through Private Wealth 1859, high-net-worth clients and their families will have access to an exclusive range of turnkey solutions, including investments, private […]

By Staff |September 15, 2009

3 min read

Registration reform comes into force this month

Starting September 28, Canada’s long-awaited consolidated National Instrument 31-103 will come into force, replacing the myriad regulations and policy statements found in different sets of provincial securities acts. Initiated by the Canadian Securities Administrators (CSA), the revised proposals relate specifically to registration requirements for dealers, advisors and investment fund managers, and constitute an overhaul of […]

By Kanupriya Vashisht |September 15, 2009

5 min read