Industry News

Briefly:

(August 19, 2005) The IDA has scheduled a hearing later this month in relation to market timing allegations against HSBC Securities. A panel will review a settlement agreement relating to market timing activities in mutual funds that occurred between January 2002 and July 2002, the brokerage industry association said in a release today. “The hearing […]

By Staff |August 15, 2005

12 min read

Under the 49th: U.S. regulatory update

Asking customers whether they want aftermarket shares, and at what price, prior to the completion of the IPO distribution. Proposing an aftermarket price when customers express interest, and accepting or seeking expressions of interest to purchase specific numbers of shares in the aftermarket that are pegged to the allocation amount, without any reference to a […]

By Philip Porado |August 15, 2005

4 min read

July fund sales highest in seven years

(August 15, 2005) July was another strong month for the Canadian mutual fund industry, as net new sales totaled $1.9 billion, according to IFIC. “Investors want financial products that offer them flexibility, diversification and professional management — the hallmarks of mutual funds,” said John Murray, IFIC’s vice president of regulation and corporate affairs. “That’s why […]

By Steven Lamb |August 15, 2005

3 min read

Rising household debt not an issue, RBC argues

(August 12, 2005) More Canadian households are beginning to manage their debt and finances in the same way corporations do, say RBC economists, by using lines of credit and other relatively new ways of borrowing to smooth incomes over the course of their lifetimes. This growing reliance on lines of credit and similar products is […]

By Kate McCaffery |August 12, 2005

3 min read