News and resources for Canada's top financial advisors
Est. 1998
Industry
Former SEC general counsel David Becker has denied any wrongdoing related to his efforts to help direct policies related to the cleanup of the Madoff fraud.
By Staff |September 23, 2011
1 min read
The Ontario Securities Commission has levied $1.4 million in administrative penalties against Global Partners Capital and associated companies. The six individuals involved in the case and other associated companies were asked to give up more than $2.2 million of ill-gotten gains from an investment fraud perpetrated on investors in several countries.
By Vikram Barhat |September 22, 2011
2 min read
Losses chalked up to an alleged rogue trader are expected to ding Swiss banking giant UBS’s third quarter profits, and may cost executives and others at the firm their bonuses.
By Staff |September 19, 2011
Most financial complaints in Canada are made by those 60 years of age and older. So in honour of Seniors’ Month, the Ombudsman for Banking Services and Investments has released a list of common financial issues affecting seniors. A frequent theme of these complaints is that the faith the senior placed in somebody was either […]
By Melissa Shin |August 10, 2011
The Ombudsman for Banking Services and Investments (OBSI) has issued a list of the frauds and scams that top its Most Frequent Complaints list. Here’s a list you can share with clients—and guard against yourself. 1) Debit and credit card fraud: Keep your cards in a safe place, use different PINs for each card, don’t […]
By Staff |March 31, 2011
If you believe the mainstream press, the financial services industry is rife with fraud. While the industry may have a few bad apples, a more plausible explanation for this misconception is that fraudsters see the industry as perfect cover for their underhanded schemes. Pretending to be a financial advisor, a thief can clean out multiple […]
By Steven Lamb |March 10, 2011
If there was a Guinness record for the longest game of hot potato, the Norbourg scandal would probably be included among the finalists—and this without counting all the other unenviable records linked to it, like most confused court proceedings, greatest ever financial scandal in La Belle Province, greatest number of lost faxes, worst collaborative effort […]
By Yves Bonneau |January 25, 2011
5 min read
An agreement in principle has been reached in the Norbourg class action lawsuit. Under the $55 million settlement there is no admission of liability. The amount will be covered by Beaulieu Deschambault S.E.N.C.R.L. (including Deschambault St-Jean S.E.N.C.R.L.) and Rémi Deschambault, the AMF, The Northern Trust Company, Canada, Concentra Trust and KPMG LLP. The $55 million […]
By Staff |January 19, 2011
The Autorité des marchés financiers (AMF) has launched a criminal proceeding against a man they allege helped two companies make illegal investments.
By Staff |December 10, 2010
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