TTC suing Manulife for alleged negligence related to benefits fraud scheme

TTC suing Manulife for alleged negligence related to benefits fraud scheme
The Toronto Transit Commission is suing Manulife Financial for alleged negligence in connection with a benefits fraud scheme that first came to light three years ago. To date, 170 TTC employees have been dismissed, retired or have resigned to avoid dismissal, and 10 former employees are facing criminal charges for their part in the alleged fraud. In a statement of... Read More

Financials and energy sectors boost TSX, U.S. stock markets lose ground

Financials and energy sectors boost TSX, U.S. stock markets lose ground
Energy and financial stocks helped boost Canada’s main stock index in late-morning trading, while U.S. stock markets were in the red. The S&P/TSX composite index was up 36.22 points to 15,425.82, after 90 minutes of trading. In New York, the Dow Jones industrial average was down 13.23 points to 22,399.36. The S&P 500 index was down 4.62 points to 2,503.62... Read More

National Bank of Canada says data exposed includes name, birthdate and phone number

National Bank of Canada says data exposed includes name, birthdate and phone number
National Bank of Canada says a website error may have exposed the personal information of nearly 400 of its customers, including their names, birthdates, phone number and email address. The Canadian lender says in a statement the problem related to an electronic form on its website and did not expose clients’ banking information, social insurance numbers or addresses. The bank... Read More

Energy stocks lift TSX, U.S. markets flat after Federal Reserve announcement

Energy stocks lift TSX, U.S. markets flat after Federal Reserve announcement
Oil and gas stocks helped boost the Toronto stock index today as Wall Street finished relatively flat after the U.S. Federal Reserve’s latest economic and interest rate policy update. The S&P/TSX composite index climbed 96.63 points to 15,389.60, with a surging energy sector leading gainers. The November crude contract was up 79 cents at US$50.69 per barrel. In New York,... Read More

Energy stocks help lift TSX, U.S. markets mixed in late-morning trading

Energy stocks help lift TSX, U.S. markets mixed in late-morning trading
Canada’s main stock index gained ground in late-morning trading, boosted by gains in the energy sector. The S&P/TSX composite index was up 70.16 points to 15,363.13, after 90 minutes of trading. In New York, the Dow Jones industrial average was up 4.19 points to 22,374.99. The S&P 500 index was down 1.01 points to 2,505.64 and the Nasdaq composite index... Read More

Equifax Canada says 100,000 Canadians may be affected by cyberattack

Equifax Canada says 100,000 Canadians may be affected by cyberattack
Equifax Canada says approximately 100,000 Canadian consumers may have had their personal information and credit card details compromised in the massive cyberattack on the credit data company made public earlier this month. The company said Tuesday the investigation is ongoing and it appears that the breached data may have included names, addresses, social insurance numbers and, in limited cases, credit... Read More

Bank of Canada governor’s communication approach under scrutiny at conference

Bank of Canada governor’s communication approach under scrutiny at conference
The central bank governor’s communications style is under a microscope — but the jury’s still out on whether he needs to change his strategy. Experts shared a range of views Thursday at a Bank of Canada conference about governor Stephen Poloz’s messaging ahead of his interest-rate decisions, which included a hike last week that caught some analysts by surprise. The... Read More

Headlines about economic growth hide underlying problems

Headlines about economic growth hide underlying problems
Private businesses and international investors are losing confidence in Canada as a competitive place to do business By Niels Veldhuis & Jason Clemens The Fraser Institute Given the sensational headlines hyping Canada’s recent economic growth, it’s hard to blame Canadians for being complacent. “Canada’s economy steamrolls ahead – 4.5 per cent annualized rate of expansion,” declared the Globe and Mail.... Read More

Laurentian fined $200K after lapsing on registration conditions

Laurentian fined $200K after lapsing on registration conditions
Laurentian Bank Securities faces a $200,000 fine from IIROC after failing to comply with registration training requirements and not adequately supervising a dealing rep. Laurentian Bank failed to take reasonable steps to ensure that three of its representatives were proficient through a 90-day training program, says IIROC, the self-regulatory body for investment dealers. Two reps registered with IIROC in July... Read More

OSC to hold roundtable to discuss women on boards

OSC to hold roundtable to discuss women on boards
The Ontario Securities Commission will hold a roundtable to discuss the findings of its third annual review of disclosures related to women on boards and in executive positions. The review looked at disclosures under National Instrument 58-101: Disclosure of Corporate Governance Practices relating to women on boards and in executive officer positions, and will be published in the coming weeks.... Read More