Northern Securities is under the gun: Following an expedited hearing held on December 14, 2012, in Toronto, Ontario with notice to Northern Securities Inc. (NSI) and with NSI’s consent, a Hearing Panel of the Investment …
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December 13, 2012
Yesterday we learned that IIROC is very concerned about “layering”, a term which they did not define. Fortunately, a real regulator commissioned a study, High frequency trading, information, and profits, by Jonathan A. Brogaard, which …
BMO Preferreds Downgraded by S&P to P-2
Standard & Poor’s has announced: •We believe that the Canadian banking sector is encountering incremental pressure from headwinds facing the Canadian economy, which is heightening economic risk in the banking system. •We also believe that …
December 12, 2012
IIROC has published a study of HFT titled The HOT Study: Phases I and II of IIROC’s Study of High Frequency Trading Activity on Canadian Equity Marketplaces: Despite the absence of a clear definition, HFT …
December 11, 2012
What’s going on with Northern Securities, IIROC and Penson?: 9. NSI advised IIROC Staff that it was considering the following three options to address the pending wind down of Penson: i. Retain a new carrying …
December 10, 2012
The US has shaken down HSBC & Standard Chartered: HSBC (HSBA) Holdings Plc will pay at least $1.9 billion in a deferred prosecution agreement that settles U.S. probes of money laundering tied to Europe’s largest …
December 7, 2012
When does a recession become a depression? Ask the Greeks: Greece’s economy shrank by 6.9 per cent in the third quarter of the year, compared with the same period in 2011. The national statistics agency …
December 6, 2012
DBRS confirmed Loblaws at Pfd-3: Loblaw’s ratings continue to be supported by its strong market position, large scale, national diversification and industry-leading private labels. The ratings also continue to reflect the high level of, and …
December 5, 2012
It seems that the Financial Stability Oversight Council is getting annoyed at SEC footdragging on the MMF issue and has issued its own discussion paper: Based on this proposed determination, the Council seeks comment on …
December 4, 2012
Global banks are moving more into asset management but there are problems: Global banks, forced by regulators to reduce their dependence on profits from high-risk trading, have rediscovered the appeal of the mundane business of …