The U.S. Securities and Exchange Commission is weighing a requirement that brokers tell investors exactly where their stock trades go to be executed, a proposal that may address complaints that the decisions are sometimes made against the client’s best interests.
Toronto-Dominion Bank, which has bought about C$17 billion ($15 billion) of credit-card assets since 2011, displaced Canadian Imperial Bank of Commerce as the country’s top issuer, according to the Nilson Report.
Kevin Tychon joined Canadian Imperial Bank of Commerce in Calgary as director of investment banking from Cormark Securities Inc., according to Vlaad and Co., a Toronto-based financial services recruiting firm.
The Canadian dollar touched the lowest level in more than a week after the Bank of Canada said its next move on interest rates could be up or down as a forecast pickup in business investment has been slow to materialize.
The dollar rose the most in two weeks against the yen as risk appetite swelled amid a higher- than-forecast gain in U.S. industrial production and as companies’ earnings topped estimates, damping demand for safety.
Canada’s political class laid former Finance Minister Jim Flaherty to rest today at a state funeral in Toronto, where he was lauded for his political pragmatism, his work on behalf of the disabled and his humor.