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From the Regulators

Misleading disclosure wasn’t material, BCSC panel finds

Misrepresentation allegations against pharma company and CEO dismissed

Female advisor meeting with male client at hotel lobby
Industry News

Desjardins using CapIntel Correlate for client education, CFR help

Also, BDO releases AI for wealth management

TD bank. stock photo
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

stock exchange
Industry News

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

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

Tiff Macklem
Industry News

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

wood cut-outs
Research and Markets

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

home sale
Research and Markets

Greater Vancouver home sales rise in April

Inventory in April reached levels not seen since pandemic

client meeting
Research and Markets

Young investors more likely to switch advisors: survey

High costs were cited as a top concern among young investors

Federal Reserve building
Industry News

Fed leaves interest rates at two-decade high

Board says inflation has remained stubbornly high in recent months

House for sale
Research and Markets

Calgary home sales jump in April, driven by lower-priced houses

Calgary Real Estate Board says 2,881 units sold last month, with a benchmark price across all home types of $603,700

Judge makes ruling

Delay for OSC’s Bridging hearing denied

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

Tatiana Choi headshot
Industry News

Ivey summer program aims to attract women to financial services

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

jail bars
From the Regulators

Binance founder sentenced to 4 months

Changpeng Zhao jailed for allowing rampant money laundering on the platform

Estate-planning trusts will be hit hard by CGIR hike

Capital gains not flowed out to beneficiaries are "trapped" in the trust at death

Bank execs summoned to House of Commons environment committee

Committee has set a date of June 13 for the chief executives of RBC, TD, CIBC, BMO and Scotiabank to appear

When is the latest clients can sell assets prior to June 25?

Given several complicating factors, waiting until the last minute is a bad idea, tax experts say

Julie Martini moves to Ontario Chamber of Commerce

And Richardson Wealth snags a $500M team from TD

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

Steve Hawkins hires Evermore founder as LongPoint COO

LongPoint will focus on white labelling and also plans to launch its own passive ETFs

Embracing the AI boom through AI ETFs

Asset managers anticipate explosive growth in the AI market

Crypto ETFs continue losing ground to U.S. competitors

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

Crypto money launderers busted: DoJ

U.S. charges foreign nationals for allegedly laundering proceeds of "pig butchering" schemes

SEC beefs up data privacy rules

Changes will raise demands on firms to warn investors about breaches

FCA charges finfluencers over social media posts

U.K. regulators allege an unregistered FX trading scheme was touted on Instagram

Mortgages, credit cards drive debt higher

Household debt levels rise in March, StatsCan reports

Canadian investors pile into foreign equities

Portfolio outflows reach record levels in March, first quarter, StatsCan says

China rolls out new measures to fix its property crisis, spur growth

The central bank said it will reduce the minimum down payment for mortgages