Industry News

Briefly:

(February 26, 2007) Hub International, the U.S. parent of Canada’s largest MGA firm, has agreed to be taken over by private equity funds advised by Morgan Stanley Principal Investments and Apax Partners. The deal was unanimously agreed upon by Hub’s board, which has recommended all shareholders vote in favour of the transaction. The deal values […]

By Staff |February 26, 2007

2 min read

Trusts hit equity issuance in 2006

If Canada’s equity market is searching for a catchphrase to sum up 2006, it might want to try “what goes up must come down.” While the S&P/TSX index closed at 12,908, delivering a 17.3% return for the year, the country’s income trust markets dropped significantly. “The income trust mania that swept Bay Street to Main […]

By Bryan Borzykowski |February 26, 2007

2 min read

Canadian regulation needs fixing: Oliver

Less than six months away from retirement, Joe Oliver is in a mood to speak a little more candidly about the investment industry he oversees, noting that Canada’s regulatory structure isn’t broken — it just needs fixing. “I have repeatedly said that a viable alternative to a national securities commission is a fully integrated model,” […]

By Mark Brown |February 26, 2007

2 min read

Briefly:

(February 23, 2007) The Investment Industry Association of Canada is repeating its call for a common securities regulator. Ian Russell, IIAC’s president and CEO said, in a speech delivered to Canada’s finance minister last week, that a single regulator would “yield immediate cost savings and efficiencies.” In his speech, Russell also said that a new […]

By Staff |February 23, 2007

2 min read