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A former investment-banking analyst at a unit of Bank of Montreal (BMO) agreed to pay a total of 1.2 million Canadian dollars ($1.2 million) among other penalties to settle insider-trading charges, as Canada's biggest securities regulators continue to clamp down on inappropriate trading activity.The Ontario Securities Commission alleged that Ming Chao Zhao used insider information on five separate takeovers in which his firm was an adviser between June 2010 and December 2011, while employed as an investment-banking analyst at BMO. The commission said Mr. Zhao generated illicit profits of C$416,719 by trading stock ahead of announcement of the deals and then selling the securities when their prices rose following public disclosure of the transactions."Our insider trading and market abuse team is establishing momentum in detecting and pursuing cases of illegal insider trading," Tom Atkinson, the OSC's enforcement director, said in a statement.Mr. Zhao couldn't immediately be reached for ...
A former Canadian Imperial Bank of Commerce investment banker on Tuesday agreed to pay $340,000 to settle charges brought by U.S. regulators that he illegally traded...
Rio Tinto PLC (RIO) is accelerating a plan to sell billions of dollars in non-core assets despite a slowdown in commodities that could lower the price tag on the dea...
Rio Tinto PLC (RIO) has hired Macquarie Group to find a buyer for its majority stake in the Northparkes copper and gold mine in Australia, swelling a list of assets ...
From MARKET TALK:1033 GMT [Dow Jones] US stocks are expected to start lower Monday as the Cyprus bailout puts the euro crisis back into focus, says GFT Markets strat...
Oppenheimer Holdings Inc. (OPY) has accused Canadian Imperial Bank of Commerce (CM, CM.T) of failing to fulfill its contractual obligations related to the sale of CI...
Royal Bank of Canada (RY) raised its quarterly dividend Thursday, the second Canadian bank to boost its payout, after posting an 11% increase in first-quarter earnin...
The Canadian dollar is modestly higher Tuesday, rebounding from overnight lows as the market waits for a fresh catalyst to trigger another move lower by the currency...
Bank of Montreal (BMO) said its first-quarter profit dipped 5% as revenue edged lower and provisions for loan losses rose, though earnings were ahead of analyst expe...
A $35 million loan on a hotel near New York's JFK Airport was transferred to a default specialist just eight months after it was packaged in a commercial mortgage bo...
The number of Americans filing new claims for unemployment benefits fell more than expected last week, pointing to a continued steady improvement in labor market con...
The value of Canadian building permits shrank unexpectedly in December for the second consecutive month, dragged by the steepest fall in planned construction of resi...
Moody's Investors Service Inc. downgraded six of Canada's largest banks Monday, citing concern about high consumer-debt levels and elevated house prices--underscorin...
Treasurys ended mostly lower Monday on a stronger-than-expected retail-sales report, capping the largest three-day price drop on 10-year benchmark notes since early ...
Canadian housing starts fell 3.5% in April to an annual rate of 174,858 units, Canada Mortgage and Housing Corp. said Wednesday.The April rate was down from a revise...
Dynasty Financial Partners and Canadian wealth management firm Richardson GMP of GMP Capital Inc. (GMP.T) are forging ties to provide cross-border access to each oth...
Law enforcement officials revealed Tuesday that the Internal Revenue Service is seeking bank records for U.S. taxpayers suspected of hiding accounts at Canadian Impe...
Apple Inc. launched a supersized $17 billion corporate bond deal Tuesday, according to Tom Tucci, managing director and head of Treasury trading at CIBC World Market...
The corporate bond market was eagerly awaiting an offering Tuesday from Apple Inc., one of the largest deals in recent memory.The bond issuance, which market partici...
Treasury yields fell to their lowest this year Tuesday after the Chicago Purchasing Managers index reading hit a more-than three-year low, while bond investors waite...
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