Industry News

Many trusts will turn out to be scams, Rosen predicts

(May 18, 2005) Outspoken forensic accountant Al Rosen has a bit of a reputation in the industry. And it’s no wonder. Rosen claims cooking the books is practically a national sport in Canada, laws make it impossible for investors to seek redress and because there are no big lawsuits, the issues are largely ignored by […]

By Kate McCaffery |May 18, 2005

3 min read

M&A activity maintains momentum

(May 17, 2005) Mergers and acquisitions activity in the Canadian market maintained its momentum in the first quarter of 2005, according to investment bank Crosbie and Company. While the number of transaction slipped from 203 in Q1 of last year to 200, the combined dollar value increased by $500 million, to $24 billion. Compared to […]

By Steven Lamb |May 17, 2005

3 min read

Under the 49th: U.S. regulators look at CE, hybrid SROs

(May 17, 2005) Sorry, but you have to eat your greens. After years of debate, the National Association of Securities Dealers (NASD) ended a policy whereby people who were considered securities industry veterans were exempt from continuing education requirements. NASD nixed all exemptions from the Regulatory Element component of its Continuing Education requirements last month. […]

By Philip Porado |May 17, 2005

4 min read

Johnston to retire from FPSC

(May 17, 2005) There’s another major changing of the guard in Canada’s financial services industry — Don Johnston is retiring as president of the Financial Planners Standards Council (FPSC) next year. Johnston has led the FPSC since its creation in 1995, when he negotiated with the owners of the CFP trademark to sub-license the designation […]

By Doug Watt |May 17, 2005

2 min read