The Star ran an interesting series on regulation and enforcement in the Canadian securities markets. The tone of the work is best summed up by the quote, attributed to Barbara Stymiest, calling Canada’s securities enforcement an “international embarrassment.” Here are the links:
Why the OSC so rarely gets its man
“More than 450 employees work at [...]
Tags: Regulation
FT Alphaville presented some scary charts showing that even older vintage (2004/2005) subprime RMBS have experienced noteworthy foreclosures and delinquencies. A commenter on naked capitalism (who covered the FT Alphaville piece) points out that the high loss severity ratio of 35% stated in the article (and attributed to CreditSights) is influenced by the [...]
Tags: Credit · Current Events
Barry Critchley at the National Post reported yesterday, in Who is Sun Life’s seller?, of Sun Life Financial’s strange plan to repurchase shares from “an arm’s-length third-party seller” between December 12, 2007 and December 31,
2007. Critchley quotes one market participant as saying, “here is a clear preference being afforded to the vendor, which [...]
Tags: Current Events
I received this helpful reminder from my online brokerage: “The last day to sell Canadian Stock in order to settle in the 2007 calendar year is Monday, December 24. The last day to sell U.S. stock in order to settle in the 2007 calendar year is Wednesday, December 26. ”
The same [...]
Tags: Tax
Some mixed reporting on the China product safety file in yesterday’s New York Times.
China Resisting Pressure on Product Safety
“The ’strategic economic dialogue’ begun by Mr. Paulson was meant to obtain greater access to the Chinese market for American goods, services and investments, as well as steps by China to allow its currency to appreciate in [...]
Tags: Current Events