Industry News

Blockbuster deal for Manulife

(September 29, 2003) Manulife Financial has announced a friendly $15 billion takeover bid for Boston-based John Hancock Financial Services, which would make Manulife the second-largest life insurance company in North America. The merged firm would be based in Toronto with Manulife’s Dominic D’Allesandro as CEO. John Hancock CEO David D’Allesandro, who is not related to […]

By Staff |September 29, 2003

2 min read

Briefly:

(September 26, 2003) Canada’s net worth moved higher in the second quarter, according to Statistics Canada, posting a gain of 1.3% to hit $3.9 trillion, or $129,000 per capita. National wealth grew at a slower rate, from 1.7% in the first quarter to 1.5% in the second, due to a sluggish economy, the agency said. […]

By Staff |September 29, 2003

6 min read

Report casts doubt on corporate governance cost savings

(September 25, 2003) Proposed new corporate governance rules may not result in the billions of dollars in savings predicted by Ontario’s securities regulator. In fact, the costs of implementing the rules could outweigh the benefits, says the British Columbia Securities Commission (BCSC). Earlier this year, the Canadian Securities Administrators (CSA) released three new “made in […]

By Doug Watt |September 29, 2003

2 min read

Canadian fund trading scams unlikely, consultant says

(September 26, 2003) A mutual fund trading scandal that has been called a “black eye” for the U.S. fund industry probably could not happen in Canada, according to a well-known industry consultant. Earlier this month, Canary Capital agreed to pay $30 million US in restitution and a $10 million US fine following an investigation by […]

By Doug Watt |September 29, 2003

2 min read