De Thomas Financial is refusing to give a retired retail investor $254,323 in compensation for unsuitable investments, despite a recommendation the Ombudsman for Banking Services and Investments, the watchdog says.
Total consumer debt in Canada has ticked higher year over year, but serious consumer delinquencies are at an all-time low, finds Equifax Canada’s March Consumer Credit Trends Report. There was moderate growth in total consumer indebtedness, excluding mortgage debt, year-to-date through March 2013 with an increase of 3.9% to $500.8 billion from $497 billion during […]
The Mutual Fund Dealers Association of Canada (MFDA) has advised fund dealers to take more stringent supervisory measures to determine suitability of investments as they relate to seniors, sale of exempt securities, and use of leverage. Read: MFDA revises rep’s terms of settlement In a bulletin detailing its regulatory priorities, the SRO recommends dealers “assess […]
Inappropriate leveraging strategies are increasingly being recommended to clients, says IIROC’s Business Conduct Compliance examination unit. The group has come across several situations where clients were not provided with enough information about the risks of borrowing to invest. They were also not made aware of the debt servicing obligations they would have to meet after […]