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Hydro One IPO to offer 81 million shares at $19 to $21 each + MORE Oct 9th
The Ontario government plans to sell more than 81 million shares at a price of $19 to $21 a share in its public offering of Hydro One later this year..... More »
The best five-year fixed mortgage rates in Canada 2022 + MORE Jun 29th
Mortgage rate comparison
After consecutive years of record-low interest rates in Canada, we are entering a period of rising rates—which makes the cost of borrowing money, be it for a mortgage or a student loan, more expensive. The possibility of more rate hikes can make the stabi.... More »
The anatomy of a housing bubble May 21st
(Julianna Funk/iStock)
Bob Thompson is a vice president and senior investment adviser at Canaccord Genuity Wealth Management in Vancouver.
Every 20 years or so, investor dementia sets in. Memories are wiped clean, allowing individuals to make the same mistakes over and over again. My 20 years i.... More »
Canada’s best cash back credit cards 2020 + MORE May 8th
The concept behind cash back credit cards is very easy to understand. You get a small percentage back on purchases you make with the card, and the reward comes in the form of cash back, meaning money. The beauty of this system is that cash back rewards are flexible and you can spend them on anything.... More »
Toys "R" Us ends Canadian stores auction with Fairfax as sole bidder + MORE Apr 23rd
Toys "R" Us Inc. will seek approval to sell its Canadian unit to Fairfax Financial Holdings Ltd. after cancelling an auction for the company's Canadian operations..... More »
An Ontario court has approved three settlements valued at $10.85 million in a class-action lawsuit filed in 2011 against Zungui Haixi Corp., auditors Ernst & Young LLP and several underwriters involved in the Chinese footwear maker’s initial public offering.New U.S. mortgage rules might be too many and too lax: Erica Alini
– canadianbusiness.com
Seven years after U.S. home prices started tanking, America’s housing market overhaul seems on track to produce a wall of new rules that might still leave the door open to excessive risk.
Before delving into the crux of the matter, though, a brief history is in order. The core of the reform effort is the gargantuan Dodd-Frank bill of 2010, with which Congress set the guidelines for shaking up the entire financial system. On the housing sector, Dodd-Frank established two main principles. First, mortgage lenders should be held accountable for verifying borrowers’ ability to repay. Second, sponsors of mortgage-backed securities (MBS) should be required to “keep some skin in the game,” by holding on to at least 5% of the risk connected to the underlying assets, except in the case of mortgages deemed extremely safe.
Congress charged the newly created Consumer Financial Protection Bureau (CFPB) with setting the standards lenders should follow to establish prospective homeowners’ ability to repay…
Before delving into the crux of the matter, though, a brief history is in order. The core of the reform effort is the gargantuan Dodd-Frank bill of 2010, with which Congress set the guidelines for shaking up the entire financial system. On the housing sector, Dodd-Frank established two main principles. First, mortgage lenders should be held accountable for verifying borrowers’ ability to repay. Second, sponsors of mortgage-backed securities (MBS) should be required to “keep some skin in the game,” by holding on to at least 5% of the risk connected to the underlying assets, except in the case of mortgages deemed extremely safe.
Congress charged the newly created Consumer Financial Protection Bureau (CFPB) with setting the standards lenders should follow to establish prospective homeowners’ ability to repay…
Ontario court approves $10.8 million settlement in Zungui Haixi class-action
– canadianbusiness.com
LONDON, Ont. – An Ontario court has approved three settlements valued at $10.85 million in a class-action lawsuit filed in 2011 against Zungui Haixi Corp., auditors Ernst & Young LLP and several underwriters involved in the Chinese footwear maker’s initial public offering.
The IPO raised $39.8 million and led to its shares being listed on the TSX Venture Exchange.
The approved settlements resolve the claim filed by two Zungui Haixi investors who alleged the IPO prospectus and some disclosures by the manufacturer of sportswear and casual footwear were false or misleading.
The settlements end the dispute but aren’t admissions of liability, wrongdoing or fault since all the defendants deny the allegations.
The settlements approved by the Ontario Superior Court of Justice call for Zungui to pay $8.1 million, Ernst & Young to pay $2 million and underwriters CIBC World Markets, Canaccord Genuity, GMP Securities and Mackie Research Capital to pay $750,000.
The court also awarded legal fees, expenses and taxes with interest totalling $2…
The IPO raised $39.8 million and led to its shares being listed on the TSX Venture Exchange.
The approved settlements resolve the claim filed by two Zungui Haixi investors who alleged the IPO prospectus and some disclosures by the manufacturer of sportswear and casual footwear were false or misleading.
The settlements end the dispute but aren’t admissions of liability, wrongdoing or fault since all the defendants deny the allegations.
The settlements approved by the Ontario Superior Court of Justice call for Zungui to pay $8.1 million, Ernst & Young to pay $2 million and underwriters CIBC World Markets, Canaccord Genuity, GMP Securities and Mackie Research Capital to pay $750,000.
The court also awarded legal fees, expenses and taxes with interest totalling $2…
One couple's all-in bet on rising real estate
– theglobeandmail.com
Debt-laden family are making ends meet for now – but they’re vulnerable to any unforeseen expenses
