By Staff | February 14, 2007 | Last updated on February 14, 2007
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(February, 14, 2007) Claymore Investments announced Wednesday that it is launching the Claymore International Fundamental Index ETF and the Claymore Japan Fundamental Index to begin trading on the Toronto Stock Exchange on February 14, 2007.

“There is a real lack of good international focused ETFs designed for Canadian investors and we believe these two new products will give Canadian investors a great opportunity to get exposure to global markets, with the benefit of low management fees and a strong investment strategy,” said Som Seif, president & CEO of Claymore Investments. “The products are designed using the fundamental index approach by FTSE RAFI, which have historically outperformed their respective market benchmarks.”

Claymore said that like its other ETFs, both the Claymore International Fundamental Index ETF and the Claymore Japan Fundamental Index ETF will be offering two classes of units, the Common Unit and Advisor Class Unit.

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BCSC imposes 10 year ban on shady investment schemer

(February, 14, 2007)The BCSC has banned a B.C. man from trading securities for 10 years after he admitted to illegally distributing securities and misrepresenting the investments he promoted.

David Bentley Riemens admitted that he violated securities laws in raising about $1.9 million from investors, mostly in B.C., Ontario and Quebec, through trading and distributing securities in Investpro Real Estate Purchasing and Sales Ltd. Riemans had never had any proper registration or filed a prospectus.

The company was purported to be a division of Riemens Enterprises Ltd. Riemens was the founder and only director of both companies. The securities issued to investors were for the purchase, improvement and resale of property in interior B.C.

Riemens also admitted that in an attempt to finance larger property developments, used about $372,000 of investors’ money in a Native Indian adoption scheme and a Nigerian letter scheme — spending that he thought would result in larger returns and tax savings. He did not tell investors in advance that he was using their money for these schemes. He also admitted to the BCSC overstating Investpro’s finances and not registering mortgages on the properties as stated.

In addition to being banned from trading securities except in limited circumstances, Riemens cannot engage in any investor relations activities and is prohibited from being a director or officer of any issuer for at least 10 years.

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NYMEX, MX to open Calgary energy market

(February 14,2007) The Montreal Exchange has entered into a strategic partnership with the New York Mercantile Exchange to open a new trading system in Calgary, catering to the energy sector.

The new exchange will open in two phases, starting with trading and clearing of exchange-traded and over-the-counter crude oil, natural gas and electricity products. The second phase will see trading of on-exchange options and futures contracts.

“We have been planning to build a strategic partnership to serve the Canadian energy sector and now we have found the ultimate partner, NYMEX,” said Luc Bertrand, president and CEO of the Montreal Exchange. “The new company will be in a unique position to serve the market and in Canada Calgary is the natural location for this business.”

As part of the deal, NYMEX has taken a 10% ownership stake in the Montreal Exchange.

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(02/14/07) staff


The staff of have been covering news for financial advisors since 1998.