Briefly: “TSX teams up with Oslo exchange” and more news

By Staff | September 20, 2010 | Last updated on September 20, 2010
3 min read

The Toronto Stock Exchange has signed a memorandum of understanding with Norway’s Oslo Bors, under which it will explore a framework to introduce dual listings on each other’s exchanges.

“For Oslo Bors, it is exciting to further expand our international scope by entering into this MoU with the Toronto Stock Exchange,” said Bente A. Landsnes, president and CEO of Oslo Bors. “Co-operating on important strategic areas for both exchanges will mutually strengthen our two markets and benefit issuers who wish to expand their investor base.”

The two exchanges will work together to improve understanding of each other’s regulatory regimes and may participate in joint events and road shows.

The Toronto Stock Exchange and Oslo Bors currently have four dual-listed issuers. Oslo Bors has been using the Montreal Exchange’s SOLA derivatives trading technology since 2009.

Oslo Bors offers the only regulated markets for securities trading in Norway providing access to a full product range including equities, derivatives, exchange-traded funds, exchange-traded notes and fixed income instruments.

– Steven Lamb

• • •

Mackenzie to rebrand two Saxon funds

Mackenzie Financial has tapped the Mackenzie Cundill team to manage the Mackenzie Saxon International Equity Fund and Mackenzie Saxon World Fund, effective October 1, 2010.

At the same time, the investment strategies of the funds will be modified to align them with the Mackenzie Cundill investment approach. Both funds will be renamed, with the “Saxon” brand replaced by “Cundill”.

Effective on or about November 26, 2010, Mackenzie Investments will merge the newly rebranded Mackenzie Cundill International Equity Fund into Mackenzie Cundill International Class, terminating the trust-based fund.

Unitholders in the terminating fund will be given at least 60 days notice prior to the merger, which has been approved by Mackenzie’s Independent Review Committee.

– Steven Lamb

• • •

MFC Global names new COO

MFC Global Investment Management has named Jacqui Allard global chief operating officer, effective immediately. She will be based in Toronto and will report directly to J-F Courville, MFC Global’s president and CEO.

“Since joining us in 2008, Jacqui has made invaluable contributions to our rapid and ongoing growth,” said Courville. “Her leadership on the ongoing strengthening of our infrastructure globally has helped position the organization to continue to grow and serve our clients.”

Prior to joining MFC Global as vice-president and chief administrative officer, Allard was a senior vice-president at State Street Corporation. She is also on the board of directors of the Investment Counsel Association of Canada and is chair of the board of Serve!, a Toronto-based charity.

– Steven Lamb

• • •

Feds begin financial legislation review

Let the lobbying begin! Finance Minister Jim Flaherty has announced the launch of the federal government’s regularly scheduled review of legislation governing federally regulated financial institutions.

“The government reviews the statutes that govern federally regulated financial institutions every five years to ensure Canada remains a global leader in financial services. This practice sets Canada apart from almost every other country in the world,” Flaherty said. “Some fine-tuning to the system may be required, but wholesale change is not necessary.”

The federal government regulates domestic and foreign banks, trust and loan companies, insurance companies, federal credit unions and cooperative credit associations. The last legislative review was completed in 2007. The sunset date for the financial institutions statutes is April 20, 2012.

The feds are calling on Canadians to submit their comments on the industry in writing by November 19, 2010. Comments can be submitted to:

Jane Pearse Director, Financial Institutions Division Department of Finance L’Esplanade Laurier 15th floor, East Tower 140 O’Connor Street Ottawa, ON K1A 0G5 Fax: 613-943-1334 E-mail:

– Steven Lamb

• • •

Sun Life Global Investments picks RBC Dexia

RBC Dexia has been chosen by Sun Life Global Investments (Canada) Inc. to provide an integrated service platform including custody, fund accounting, transfer agency recordkeeping, and risk and investment analytics to Sun Life’s new lineup of mutual funds, slated to launch this fall.

“RBC Dexia demonstrated a long-term partnership approach matched with a conservative risk profile that we felt was essential for a successful launch of our mutual fund offering,” said Rick Headrick, president of Sun Life Global Investments (Canada) Inc., an indirect wholly owned subsidiary of Sun Life Financial Inc.

The new fund lineup will be available through Sun Life Financial advisors, MFDA and IIROC firms, and through Sun Life’s group retirement plan program through its segregated fund platform.

– Steven Lamb

(09/20/10) staff


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