CI Financial completes conversion into income trust
Declares first distribution
- By: IE Staff
- June 30, 2006 June 30, 2006
- 12:30
Declares first distribution
Deal expected to close in fourth quarter
Web site offers subscription-based products and services for first time to investors
Agreement with Barclays Bank PLC to close by end of 2006
New organization will create a single, powerful voice on legislative, regulatory and market practice issues
Government-appointed liquidator will return $31.2 million to 5,600 investors
Survey espondents also say too much regulation is endangering banks’ financial health
Gross sales of mutual funds increase 76.9%
New management team has maintained firm's leadership position
Consultation period ends with associations receiving 44 responses
Odlum Brown CEO to serve as chairman
Acquisitions made in previous two years contributing to overall financial performance
CI now owns 5.8% equity in the technology solutions firm
IA will integrate brokerage into FundEX Investments
Course includes both financial planning and investment management
Association outlines problems with current legislation
Central bank governors from Mexico, Europe and China join board
Now only Canadian firms, not individual brokers, need to register with state regulators
Members approve new name the Investment Industry Association of Canada
Extended maturity offer greater flexibility to support business growth
U.S. mutual funds have decreased their soft-dollar expenditures to 6% of total commissions spending
BIS releases annual report
Deal will add 300,000 participants and US$7.5 billion in plan assets