Industry News

Briefly:

(October 5, 2006) Michael Lee-Chin is handing over the chief executive officer position at AIC to Jonathan Wellum, the fund company’s chief investment officer. Lee-Chin will say on as AIC chair, as well as chair of the firm’s sister companies, including Berkshire. Lee-Chin made the announcement Wednesday night at a gala event marking AIC’s 20th […]

By Staff |October 5, 2006

3 min read

Viatical company ordered to cease trading

The Ontario Securities Commission has ruled that viatical products offered by Universal Settlements International are securities and has issued a cease-trade order against the Kitchener, Ont.-based company. In a decision released last week, the OSC ordered that USI permanently cease trading in the controversial products until the company either fulfills the province’s registration and prospectus […]

By Doug Watt |October 5, 2006

2 min read

This is the modern world

Cost/benefit analysis of any new securities rules Nationwide harmonization of penalties and orders related to the enforcement of securities laws Possible creation of an arbitration option to settle industry disputes and to require this option as a condition of SRO recognition A requirement that insiders provide two days notice before selling securities Establishment of a […]

By Philip Porado |October 5, 2006

3 min read

Shannon leaves CI for Brandes

CI Financial is losing one of its star fund managers. Late Tuesday, the firm was informed that Kim Shannon, president of Sionna Investment Managers, is terminating her contract with CI. Shannon was responsible for more than $7 billion in assets at CI as lead portfolio manager of CI Canadian Investment Fund, CI Canadian Investment Corporate […]

By Staff |October 4, 2006

2 min read