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OSC to increase focus on DIY investors

The regulator also wants to toughen enforcement and see better advice given at banks

Queen's park, Ontario
From the Regulators

FSRA chief tapped for Ontario Energy Board

Proposed appointment still needs to be confirmed by legislative committee

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Capital gains changes tip the scales for business owners

Incorporated professionals must consider deferral, dividends and deductions

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Products

Crypto ETFs continue losing ground to U.S. competitors

Total inflows for Canadian ETFs has hit $19 billion for the year to date

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Research and Markets

Business insolvencies spike in Q1, consumer insolvencies also rise

It's the largest year-over-year increase in business insolvencies in 37 years, association says

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Industry News

TD penalties expected to be higher on alleged money laundering link: analyst

Bank says it's working to strengthen its anti-money laundering program

Sustainable investing
Research and Markets

Sustainable fund flows lagged industry in Q1: Morningstar

Bond funds drove the positive net flow activity as assets hit record high

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From the Regulators

SEC sanctions systematic audit firm failures

Firm allegedly recycled audit papers, routinely failed to meet standards

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Research and Markets

U.S. employers added a modest 175,000 jobs in April

The resilient strength of the job market and overall economy has kept inflation above the Fed’s 2% target

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From the Regulators

Misleading disclosure wasn’t material, BCSC panel finds

Misrepresentation allegations against pharma company and CEO dismissed

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Industry News

Desjardins using CapIntel Correlate for client education, CFR help

Also, BDO releases AI for wealth management

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Industry News

TD hit with $9.2M penalty after failing to report suspicious transactions

The penalty is for five violations during a review between March 2022 and March 2023: Fintrac

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Industry News

Great-West Lifeco reports $960 million net earnings in Q1

GWL's AUM dips below $1 trillion after Putnam sale

Canadian interest rates don’t have to match U.S. or global rates: Macklem

Forecasters widely expect the Bank of Canada to lower its policy rate in June or July

Fed leaves interest rates at two-decade high

Board says inflation has remained stubbornly high in recent months

Ivey summer program aims to attract women to financial services

Undergrad's intimidation changed to interest with Women in Asset Management program

Industry moves this week

A mix of retirements and board appointments

  • By: Katie Keir
  • April 26, 2024 April 26, 2024
  • 14:41

Industry moves this week

Notable news comes from banking, and a new leader joins Sterling Mutuals

Sam Albanese, industry pioneer, dies at 76

Friends, colleagues remember him as an innovator who was dedicated to his field

Emerge ETFs unitholder calls for greater regulatory oversight

Investor decries lack of communication throughout cease-trade order, and recommends increased due diligence when choosing funds

Emerge ETFs class action won’t proceed

Fund manager has no assets or insurance, lawyer says

Higher capital gains inclusion rate and mutual funds

Mutual fund corporations can pass gains to unitholders

Delay for OSC’s Bridging hearing denied

Tribunal refused to pause its proceedings while lawyers try to get paid

Binance founder sentenced to 4 months

Changpeng Zhao jailed for allowing rampant money laundering on the platform

TD takes US$450M provision related to anti-money laundering inquiry

Bank's chief executive acknowledged that the investigation has weighed on TD's share price

Jobless claims in the U.S. remain historically low

U.S. employers added 303,000 jobs last month, an example of the U.S. economy’s resilience

Greater Vancouver home sales rise in April

Inventory in April reached levels not seen since pandemic

Young investors more likely to switch advisors: survey

High costs were cited as a top concern among young investors