Part 2: The Merchant Loyalty Industrial Complex Collapse  

fsim.ca/docs/Credit_cards_Part_2v4.pdf

Mark Sibthorpe

Since November 2, 2021, Loyalty Ventures Inc.'s (Airmiles) market cap has decreased from $861.42M to $2.11M, a decrease of -99.75%. This compares closely to 2018, when Aimia sold Aeroplan back to Air Canada and partners TD and CIBC for $238 million. For reference, in 2005 Aeroplan launched an IPO valuing it at $2 billion. Related to Aimia’s downfall, it had also previously sold the UK Nectar program to Sainsburys for $120 million, $580 million lower than it paid for Nectar in 2007.

This report digs under the surface and uncovers why loyalty is going the way of the dodo.

Merchants should not waste time fighting card networks  

fsim.ca/docs/Card_fees_ongoing.pdf

Mark Sibthorpe

This is part one of a two part assessment of merchant frustration due to high credit card fees. The second part of this report will outline an alternative approach that merchants can consider. An approach that is a win for them and also for the card networks.

The full story of SVB March 12th, 2023  

fsim.ca/docs/SVB_special_report2.pdf

Mark Sibthorpe

Aggregated news and research related to SVB. Apart from SVB, included in this report is related news with respect to other banks and non-traditional companies looking to add financial services that also appear risky.

March 2023 bank earnings summary  

fsim.ca/docs/bankearningsfriday.pdf

Mark Sibthorpe

This report provides a snapshot into recent bank earnings and related news as published in fsim.ca reports.

Real estate report: October 30th, 2020  

fsim.ca/docs/Oct30rereportv1.pdf

Mark Sibthorpe

The big buzz in real estate recently is Mark Carney being scooped up by Brookfield. This means more juice for riskier borrowers. Brookfield, a huge player in real estate, both residential and commercial, recently bought its remaining shares from Sagen (Genworth MI Canada), which values the company at $3.8 bn.

VersaBank’s New High-Security VPN Proving Especially Valuable During COVID-19 Pandemic  

fsim.ca/docs/TailscaleReleaseMarch30FINAL.pdf

Press Release

2014 FSIM when Bernanke visited Montreal  

fsim.ca/docs/MockBernanke.pdf

Mark Sibthorpe

Considering Bernanke is hated by the Republicans and hated even more by the Democrats, and is currently under scrutiny for saving AIG but not Lehman, (in hindsight) with respect to issues over solvency vs liquidity, the Montreal lovefest attended by 1,100 people yesterday must have been a welcome respite. Click the link to read the entire 2014 report.

Eisman's big Canadian bank short  

fsim.ca/docs/eisman2.pdf

Mark Sibthorpe

I have been reporting on Steve Eisman's short position for quite some time.  As the analyst reaction to Eisman shows (link below), Eisman has taken a lot of heat for shorting Canadian banks. Instead of capitulating, in September 2019 he publicly disclosed the fact that he added Canadian Tire to his position, He explains the rationale for this in a BNN interview late 2019. Essentially, his big concern with respect to banks was non-performing loans in Alberta. He feels Canadian bank CEOs are not prepared for a credit cycle. He specifically referenced ATB (a private bank) in discussing his concerns. Looking at the numbers today, my guess is that he has made off like a bandit.

VersaBank Beta-Testing Its New, High Volume Mortgage Finance App   

fsim.ca/docs/VBCortelMortFinanceAppFeb62020.pdf

Press Release

VersaBank announces it is initiating beta-testing on its newly developed high-volume mortgage software app with the Cortel Group, one of Canada’s largest home and condominium builders. The app, named “Direct Connect”, was designed to facilitate and significantly reduce the lengthy finance approval process typically experienced by home buyers when visiting home and condo pre-construction sales offices.

How and why you need to defend your brand against disruptors  

Mark Sibthorpe

Technology, and being open to opportunities, has preempted transformation in banking. At the top of change are Mint, PayPal and ApplePay; three examples of transformative solutions that are now ubiquitous. On the horizon: Uber and Google, both having recently announced partner based banking services. Further down in the plumbing is Duca Impact Labs, Versabank, and Revolut. This report shows how cost conscious FIs can, not only stay relevant in the face of adversity, but punch well above their weight. All thanks to creative thinking and the ongoing commoditization of technology.

Kick the can(nomics)  

fsim.ca/docs/Kick.pdf

Mark Sibthorpe

Canada has used consumer debt to provide life support to the economy. This strategy which basically pushed the day of reckoning to the next government was old back in 2014, and now is well past its sell-by-date. Recognizing this, and desperate to keep the economy out of a recession, Trudeau is spending more money now than any government in Canadian history. This report disusses a possible alternative.

ScoreCard Bill Morneau, Canada's Minister of Finance  

fsim.ca/docs/ScoreCardMorneau.pdf

Mark Sibthorpe

This report is a scorecard I designed in order to rank the performance of the current Minister of Finance, Bill Morneau. I do regular rankings because, otherwise, I cannot measure the performance in a meaningful way. The scoring is based on a variety of metrics as detailed on the ‘score-table’ on page 3. Examples of the criteria and weighting include:

Observations and overview of 2018 NB flood support from government and insurance companies.  

fsim.ca/docs/Observations and overview of 2018 NB flood support from government and insurance companies..pdf

Mark Sibthorpe

Flood aftermath is linked to post traumatic stress. Here are some findings from a study conducted by Queensland University following a flood:

"The findings showed that aftermath stress contributed to poor mental health outcomes over and above the flood itself, prior mental health issues and demographic factors," Ms Dixon said.

"Aftermath stress was the strongest predictor of post-traumatic stress symptoms with 75 per cent of people saying the most difficult aspect was the aftermath and dealing with insurance companies," she said.

With this in mind, I felt it was important to understand how New Brunswick flood victims were treated.

Update Argentina: a sign of the times  

fsim.ca/docs/Update Argentina_ a sign of the times.pdf

Mark Sibthorpe

Argentina is in the news daily because the situation is dire, and may be an indication of further contagion. The most dramatic story that speaks of the a leading cause of its troubles was the recent arrest of the public works secretary, Jose Lopez. June 15th he was caught hiding millions in cash in a monastery. No this is not a plot for a comedy.

Summary of Canada's flood news, 2017 to present  

fsim.ca/docs/Summary-of-flood-news-2017-present.pdf

Mark Sibthorpe

This report covers flood news in Canada from 2017 to present and highlights the relevent issues for home-owners and the insurance industry.

Banking on Pot  

fsim.ca/docs/c10191_banking-on-pot.pdf

SBS

As states across the US legalize marijuana for both medicinal and recreational purposes, it has fueled a growing industry of marijuana related businesses (MRBs).

Canadian banking industry overview  

Mark Sibthorpe

The industry overview is divided into 5 parts:

Introduction
Small banks
Small medium sized banks
Medium sized banks
Medium large banks

2014 Mobile payments the Apple pay way  

fsim.ca/docs/Mobile_Payments_Apple_Pay_2014.pdf

Mark Sibthorpe

With Walmart Pay about to userp Apple Pay, I thought I would share my 2014 book on mobile payments and loyalty. The guilde was written for Merchants that want to understand loyalty, credit, mobile payments and Apple Pay, but anyone involved with credit and loyalty might find it useful.
The book is a prelude to Walmart leaving MCX, and chronicles the evolution that led to Walmart Pay. There is an extensive case study of Walmart that looks into its efforts to become an ILC and to avoid paying credit card transaction fees ('merchant discount').
It offers readers a step-by-step methodology for evaluating and transforming credit and loyalty programs. The strategies are based on proven examples and industry facts. The Nectar, Target, Canadian Tire and Walmart case studies are examples of the practical approach I have taken, written with the intent that merchants can use them as blueprints for their own initiatives. 

Death to bitcoin, long live the blockchain   (See full report)

Mark Sibthorpe

Jamie Dimon calls bitcoin a fraud used by criminals, yet he has jumped into the blockchain with both feet.

TD bank industry conduct  

fsim.ca/docs/tdind2.pdf

Mark Sibthorpe

TD’s share price recently collapsed by $7 bn in one day due to CBC’s allegations of aggressive selling tactics. A huge fall from a bank that was trading at a premium as recently as January. This was even before the most recent allegation of TD attempting to avoid paying taxes on advertising.
This report chronicles the events leading up to the collapse, shows TD's performance, analyses other related issues.

Book review: Back from the Brink  

fsim.ca/docs/backbrink.pdf

Mark Sibthorpe

This is a book review of the book Back from the Brink by Paul Halpern, Caroline Cakebread, Christopher C. Nicholls and Poonam Puri.

Footnote 151  

fsim.ca/docs/footnote151.pdf

Mark Sibthorpe

Footnote 151 implies an important regulatory change related to derivative contracts. It means that US Banks will not be required to hold as much capital against commodities. If you want to understand the implications of this regulatory change in more detail, see the enclosed related article detailing the changes. For contextual purposes, I have also included two Rolling Stones Magazines reports from 2010 and 2014 that chronicle the role large US banks have played in manipulating commodities. You might question the credibility of these sources, but rest assured, these reports are based on United States Senate hearings which outline the issues in a 396 page report related to the implied risks. 

Save the Canadian economy now  

fsim.ca/docs/helecopter-money.pdf

Mark Sibthorpe

Consumer debt spending appears to have insulated Canada from the worst of the credit crisis, but now the alarming magnitude of consumer debt ($1.92-trillion) could exacerbate a day of reckoning.
This report assesses the issues at hand and recommends the solution to get Canada's economy on track.

Reasons financial service companies should consider gamification  

fsim.ca/docs/GamingEventProposal-printsample--en-final.pdf

Mark Sibthorpe

Gamification of business processes resulted on Mint.com growing to 10 million users within 4 years. This report explains how.

National Bank Special Report  

fsim.ca/docs/NatBSpec.pdf

Mark Sibthorpe

According to Bloomberg, National Bank of Canada will take a C$64 million ($48 million) restructuring charge in the fourth quarter and said its investment in Maple Financial Group Inc., which is being probed by German regulators, may be at risk of a “substantial loss.”

Will Canadian banks charge companies for deposits?  

fsim.ca/docs/depgrowthimpact2.pdf

Mark Sibthorpe

In light of today’s possible rate cut, this report discusses how a bank rate cut and capital ratio pressure could precipitate negative corporate deposit interest rates in Canada.

Canadian Tire's (CTC) - Canadian Tire Financial Services (CTFS) Scotia deal overview and risk assess  

fsim.ca/docs/ctfsfinal.pdf

Mark Sibthorpe

Review of the Canadian Tire Financial Services deal with Scotiabank, risks, opportunity and benefits.

Finance minisiter scorecard August 26, 2015  

fsim.ca/docs/Scorejo-August-2015.pdf

Mark Sibthorpe

This report looks at Joe Oliver, minister of finance’s progress to date, and assigns a grade to his government’s performance to date.

Xtreme Branch  

fsim.ca/docs/xbranch.pdf

Mark Sibthorpe

Branches are evolving to meet the digital age. This documents tracks the evolution with real-world examples.

Canadian Nudge  

fsim.ca/docs/nudge.pdf

Mark Sibthorpe

CWB cause for concern  

fsim.ca/docs/cwbupdate.pdf

Mark Sibthorpe

BNTV Overview  

fsim.ca/docs/overviewpdf.pdf

BNTV

BankNews.TV Publishing Corp services overview document:

• Analytics
• Financial services industry monitor (FSIM) industry briefings and developments reports
• Research

Challenger banks not a threat to big banks  

fsim.ca/docs/challenger.pdf

Mark Sibthorpe

This report looks at Canadian challenger banks (apart from merchant led banks) and explains why they have not threatened larger institutions. It also looks at ways in which these upstarts have achieved success.

Gamification of financial data project  

fsim.ca/docs/GamingEventProposal-printsample--en-final_original.pdf

Mark Sibthorpe

This document contains details on how BankNews.TV is helping kids learn programming via gamification of financial data.

The impact a rate rise will have for Canadian banks  

fsim.ca/docs/irr-f.pdf

Mark Sibthorpe

Canadian banks have made money throughout the credit crisis, but this trend may be about to reverse. The rational supporting this prediction is that revenue has grown despite a declining net interest margin (NIM). It has grown in spite of this fact because Canadian debt (loan lease volume) has risen significantly, as shown in chart 2.

FIFA: the new goldenballs  

fsim.ca/docs/goldenballs.pdf

Mark Sibthorpe

Yesterday, the Attorney General of Switzerland (OAG) opened criminal proceedings related to the FIFA scandal. This report outlines some of the events related to the criminal investigation, with a particular focus on banking.

Scorecard Minister of Finance: JIm Flaherty  

fsim.ca/docs/Scorecard Min Fin Flaherty April 8 2014.pdf

Mark Sibthorpe

March 18, Finance Minister Jim Flaherty resigned from cabinet after having endured a difficult year due to health issues. This report looks at his legacy and attempts to grade his government’s performance to date.

Sample RFP for a Loyalty Program  

fsim.ca/docs/sample RFP for a loyalty program.pdf

Mark Sibthorpe

Merchants extend financial services  

fsim.ca/docs/merchantfs.pdf

Mark Sibthorpe

Merchant led financial services are growing in importance once again. This is exemplified in the ongoing UK rivalry between ASDA, Sainsbury and Tesco. Together these merchant/financial service companies provide the backstop for three different approaches for merchants looking to extend their financial services.

Hot Money: real-estate  

fsim.ca/docs/hotmoney.pdf

Mark Sibthorpe

Currency Cheat Sheet: a guide for the rest of us  

fsim.ca/docs/currencycheatsheet.pdf

Mark Sibthorpe

Riches to Rags? Summary of possible risks for Genworth MI CANADA, INC.  

fsim.ca/docs/gq4risk.pdf

Mark Sibthorpe

Genworth had its Q4 2014 earnings call. Genworth own about 30% of the mortgage default insurance in Canada. Not surprisingly, the earnings call became focussed on Alberta; and for good reason, with 20% of its outstanding insured mortgage balance in Alberta, sensitivity to the oil shock and how Genworth plan to manage related risks were discussed in detail.

Canadian Western Bank Competitive Forecast  

fsim.ca/docs/cwbf.pdf

Mark Sibthorpe

Based on historical financial data (see detailed charts pages 5-8), the oil based recession in Alberta, and comparison against two of its peers, this document outlines my observation with respect to CWB’s future performances.

Liquid Canada: the tipping point  

fsim.ca/docs/Liquid.pdf

Mark Sibthorpe

This report examines liquidity issues in the Canadian financial service industry.

Bank Fees  

fsim.ca/docs/Bank fees.pdf

Mark Sibthorpe

Recently the CBC and The Globe and Mail both reported on what has been referred to as a consumer “bank fee outcry”. CBC compares banks to cable and phone companies, standing accused of trying to gouge customers with service fees. The backlash appears to have originated in conjunction with the NDP and the Consumers Council of Canada which argues that there is anxiety ‘among consumers about banking fees’.

Cheap Oil Report  

fsim.ca/docs/co2.pdf

Canada's Economy, a strategic solution  

fsim.ca/docs/ces.pdf

Mobile Payments Blueprint: guide to credit and loyalty transformation for merchants  

fsim.ca/docs/booksample.pdf

Guide to system selection  

fsim.ca/docs/gssnow.pdf

Read sample report: Guide to system selection. This sample would normally cost $99 but is available free as a sample. Click here view sample report.

SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED

G&M (2026-01-28)

“We are deeply sorry for the inconvenience the earlier technical issue has had on our clients, and sincerely appreciate their patience as we worked through this,” Ms.

BROOKFIELD’S $20-BILLION TRANSITION FUND SHOWS INVESTOR CONFIDENCE IN CLEAN ENERGY REMAINS STRONG

G&M - EMMA GRANEY, JEFFREY JONES (2025-10-08)

Investors have committed US$20-billion to the second iteration of Brookfield Asset Management Ltd.’s

ROTHSCHILD FAMILY REPORTEDLY PLANS TO SELL ENTIRE STAKE IN THE ECONOMIST

G&M (2025-10-08)

British philanthropist Lynn Forester de Rothschild is looking to offload her family’s entire stake in global media and information company The Economist, Axios reported on Tuesday, citing a source familiar with the transaction. The

CARNEY RETURNS TO OTTAWA WITHOUT A DEAL TO END THE U.S. TARIFFS

Yahoo Finance (2025-10-08)

LeBlanc and Foreign Affairs Minister Anita Anand will both stay in Washington today for further meetings, including a planned conversation between Anand and Secretary of State Marco Rubio.

CANADA POST UNION SET FOR MEETING WITH OTTAWA AS STRIKE STRETCHES ON

Yahoo Finance (2025-10-08)

The Canadian Union of Postal Workers is asking the minister to roll back the changes that include permitting the end of daily mail delivery, the expansion of community mailboxes and the closure of some rural post offices.

‘IT WAS A TERRIFYING PERIOD’: AUTHOR DETAILS SCOTIABANK CEO’S CAREER IN FINANCIAL CRISIS

BNN (2025-10-08)

Waugh’s time and leadership was detailed in Gimme a Crisis: In the Room with Global Banker Rick Waugh by Green released Tuesday.

UBS SHELVES RISK TRANSFER DEAL TIED TO $2.5 BILLION OF LOANS

Bloomberg (2025-10-08)

UBS Group AG has shelved a significant risk transfer transaction tied to 2 billion francs ($2.5

EUROPEAN BANKS’ GROWING RISK-TAKING TO PAY OFF WITH REVENUE LIFT

Bloomberg - Chloe Meley (2025-10-08)

European banks’ growing appetite for leveraged loans is brightening revenue prospects and opening the door to raised earnings estimates. The

WHAT RELIVING THE 1929 CRASH TELLS US ABOUT TODAY’S STOCK MARKET

Bloomberg - Gary Sernovitz (2025-10-08)

There are two ways to read Andrew Ross Sorkin’s 1929, a new book on the stock market crash of that year.

CANADIAN GOLD IMPORTS SEE HISTORIC SURGE AS INVESTORS BRACE FOR TURMOIL

Better Dwelling (2025-10-08)

The surge wasn’t just huge—it was large enough to distort Canada’s import data.

GOLD RALLY POINTS TO ERODING FAITH IN CENTRAL BANKS WORLDWIDE

WSJ (2025-10-08)

On Saturday, Japan got a new prime minister.

BIG BANKS WOO TRUMP FOR ROLES ON BLOCKBUSTER IPO

WSJ - Corrie Driebusch, Gina Heeb, AnnaMaria Andriotis (2025-10-08)

Goldman Sachs GS -0.89%decrease;

CIBC’S COO GETS A NEARLY $8-MILLION PAYDAY

G&M - JENNIFER DOWTY (2025-10-08)

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over. The

CREDIT RATING AGENCIES ARE ON A COLLISION COURSE WITH TRUMP

G&M - Rita Trichur (2025-10-08)

A battle of the wills is brewing between global credit rating agencies and U.S.

CANADIAN REAL ESTATE RESEMBLES US BUBBLE AFTER PERFECT STORM: BMO

Better Dwelling (2025-10-08)

BMO explains the boom was fueled by a rare mix of factors unlikely to align anytime soon.

OSFI ANNUAL REPORT

OSFI (2025-10-08)

I am pleased to present the Office of the Superintendent of Financial Institutions’ (OSFI) 2024-25 Annual Report to Parliament.

AHEAD OF TALKS WITH CARNEY, TRUMP SAYS HIS TARIFFS ARE WORKING

G&M - STEVEN CHASE, ADRIAN MORROW, LAURA STONE (2025-10-07)

U.S.

OTTAWA SHIFTS BUDGETS TO THE FALL AS MINISTER DEFENDS NEW FISCAL FOCUS

Yahoo Finance (2025-10-07)

The typically shorter economic and fiscal updates will now come in the spring, closer to the start of the fiscal year on April 1.

PRIVATE CREDIT CASH PIVOTS FROM 'RISKY' WEST TO EMERGING MARKETS

Reuters - Libby George and Rodrigo Campos (2025-10-07)

An intricate series of pipes off Angola's Atlantic coast snakes toward a new fuel refinery that signals the country's push for energy independence — and its use of private creditors, instead of banks, to fund a big-ticket project. "We're

FIFTH THIRD TO BUY COMERICA IN $10.9 BILLION DEAL TO CREATE NINTH-LARGEST US BANK

Reuters - Manya Saini, Saeed Azhar and Nupur Anand (2025-10-07)

in an all-stock deal valued at $10.9

EU TO PUSH DEVELOPMENT BANKS' CLIMATE FOCUS DESPITE US OPPOSITION, DRAFT SHOWS

Reuters - Kate Abnett and Simon Jessop (2025-10-07)

The European Union will double down on its support for reforming global development banks to do more to fight climate change, a draft EU document showed, a stance that puts Brussels at odds with the U.S.

GOLD TOPS US$4,000 MARK AS RECORD RUN GATHERS PACE AND BULLION FUNDS OUTPACE EVEN AI RETURNS

G&M (2025-10-07)

U.S.

NEARLY 70% OF AMERICANS THINK THE ECONOMY IS ON THE ‘WRONG TRACK’ AND EVEN MORE THINK IT’S A BAD TIME TO BUY A HOME, FANNIE MAE SURVEY SHOWS

Yahoo Finance (2025-10-07)

According to Fannie Mae’s September 2025 Home Purchase Sentiment Index, using data from the National Housing Survey, only 32% of respondents said the economy is on the “right track,” compared to a striking 67% who believe it’s going the “wrong track.”

CANADA FACES WAVE OF MORTGAGE DELINQUENCIES AND ARREARS, SAYS NATIONAL HOUSING AGENCY

BNN (2025-10-07)

About 60 per cent of outstanding mortgages across the country are set to renew with higher payments in 2025 or 2026, according to an analysis published in July by Bank of Canada staff.

MASTERCARD SHARES ITS AI PLAYBOOK FOR BUSINESS PAYMENTS

Pymnts (2025-10-07)

For chief financial officers grappling with market uncertainty, rising interest rates and complex supply chains, AI is moving the finance team’s agenda beyond operational control to the orchestration of intelligence across ecosystems.

AMAZON AUTOS ADDS FINANCING OPTIONS FROM CHASE, SANTANDER AND WELLS FARGO

Pymnts (2025-10-07)

Amazon began the rollout of the Amazon Autos car-buying experience in December 2024, enabling shoppers in 48 U.S.

AS ROGUE EMPLOYEES TARGET MONEY AND DATA, FINANCIAL INSTITUTIONS RECKON WITH HOW TO PROTECT THEIR CLIENTS AND OPERATIONS FROM INSIDE JOBS

G&M - Alexandra Posadzki (2025-10-06)

Shortly before noon on June 17, someone attempted to access banking information belonging to two Canadian prime ministers at the Royal Bank of Canada. The

CANADIAN TIRE FRANCHISEE FINED $111,000 FOR VIOLATING TEMPORARY FOREIGN WORKER PROGRAM RULES

G&M (2025-10-06)

Ezhil Natarajan, who is franchise owner of the store in the suburb of Etobicoke, remains under investigation by provincial authorities for allegedly exploiting foreign workers. Employment

CARNEY-CHAMPIONED NET-ZERO BANKING ALLIANCE SHUTS DOWN AFTER LOSING MOST OF ITS MEMBERS

G&M - Jameson Berkow (2025-10-06)

Almost exactly four years after Prime Minister Mark Carney convinced Canada’s largest financial institutions to join a global alliance committed to net-zero emissions related to their lending, the organization is shutting down. The

GOLD, BITCOIN SURGE ON CONCERNS OVER GLOBAL DEBT PILE

Yahoo Finance (2025-10-06)

At the heart of these moves lies a growing pile of debt across the US, Japan and Europe that countries are struggling to manage.

GOLDMAN SEES JAPAN BOND ‘SHOCKS’ SPILLING OVER TO TREASURIES

Yahoo Finance (2025-10-06)

“Japan has been a net exporter of bearish shocks onto global long-end rates this year,” Goldman’s strategists wrote in an Oct.

FRENCH PREMIER LECORNU RESIGNS AFTER CABINET CRITICIZED

Bloomberg (2025-10-06)

France’s Prime Minister Sebastien Lecornu resigned Monday just a day after President Emmanuel Macron named a new cabinet, deepening the country’s political crisis and sparking a selloff of French assets. The

INDUSTRY MOVES: RICHARDSON WEALTH, CIBC WOOD GUNDY AND CI ASSANTE SCORE VETERAN TEAMS

Investment Executive (2025-10-06)

Weekly summary of moves across the financial industry.

EQUITY ISSUANCE UP, DEBT DOWN IN CANADA

Investment Executive (2025-10-06)

RBC Capital Markets ranked first in several Canadian equity league tables, LSEG said, while CIBC World Markets topped the rankings for preferred securities and Canaccord Genuity led in retail structured products.

HOW FRAUDSTERS ARE USING CRYPTO ATMS TO LAUNDER MILLIONS FROM CANADIAN SCAM VICTIMS

CBC (2025-10-06)

Canada now has the most crypto ATMs per capita in the world, with nearly 91 per one million residents and the second-highest number of machines (behind the U.S.)

SUN LIFE CREATES NEW ASSET MANAGEMENT ARM AND NAMES TOM MURPHY ITS FIRST PRESIDENT

G&M (2025-10-06)

Sun Life Financial Inc.

CANADIAN ETF INFLOWS SMASH PAST LAST YEAR'S RECORD, HITTING $85B YEAR-TO-DATE

Yahoo Finance (2025-10-06)

The September inflow brings the year-to-date total to $85 billion, ahead of the record net $76 billion invested in ETFs in all of 2024.

BMO SEES LONG-TERM ECONOMIC DAMAGE EVEN FROM OPTIMISTIC TARIFF SCENARIO

Yahoo Finance (2025-10-06)

A worst-case scenario with a 35 per cent tariff across the board could mean a moderate recession in the short-term and five per cent shaved off long-term economic growth, while a middle scenario of tariffs averaging 15 per cent, similar to other trading partners like Europe or Japan, could mean

IMF FINDS EMERGING MARKET DEBT ROSE TO $30T: WHY IT MATTERS

Yahoo Finance (2025-10-06)

MF financial counselor and director of the Monetary and Capital Markets department, Tobias Adrian, joins Market Catalysts to explain what this mounting debt means for the global economy and for the IMF.

BANK OF CANADA JUST MADE ITS MOST DISTURBING SPEECH IN A GENERATION

Better Dwelling (2025-10-06)

So when Canadian policymakers brag about all the times they had the lowest inflation in the G7, it’s worth remembering: Canada isn’t measuring the same thing.

KLARNA RAISES $1.37 BILLION IN US IPO, BOOSTING FINTECH HOPEFULS

Yahoo Finance (2025-10-03)

The Sequoia Capital-backed Swedish company and some of its existing investors sold 34.3

WORLD SHARES MOSTLY CLIMB AS TECH SHARES LEAD WALL STREET TO MORE RECORDS

BNN (2025-10-03)

Markets have largely shrugged off the shutdown of the U.S.

DANSKE BANK SHUTTERS LONDON ECM DESK TO FOCUS ON STOCKHOLM

Bloomberg - Sara Sjolin and Evelina Youcefi (2025-10-03)

Danske Bank A/S has closed down its equity capital markets operations in London as it doubles down on Stockholm in a bid to become a top Nordic investment bank. Five

BANK OF CANADA ADMITS CUTS WON’T FIX THE ECONOMY IN MEETING NOTES

Better Dwelling (2025-10-03)

The BoC’s meeting notes acknowledge, “Monetary policy is not well suited to structural shocks.”

FP CANADA AWARDS 7 PROFESSIONALS FOR FINANCIAL PLANNING CONTRIBUTIONS

Investment Executive (2025-10-03)

FP Canada has recognized seven professionals for their contributions to the financial planning profession.

US BANKS EXPECT VICTORY IN CAPITAL REQUIREMENTS AS TRUMP REGULATORS REVAMP RULES

Reuters - Lananh Nguyen, Nupur Anand, Pete Schroeder and Tatiana Bautzer (2025-10-03)

As President Donald Trump's regulators revamp bank rules, big lenders expect their capital requirements could fall, in a stunning victory for the industry which faced a big hike under former President Joe Biden, according to senior industry executives. Aiming

EUROPE NEEDS TIGHTER REGULATION OF SHADOW BANKS, LAGARDE SAYS

Reuters (2025-10-03)

Non banks, such as investment funds, insurers and pension funds, sometimes called shadow banks, now have total assets worth about 350% of GDP but enjoy easier regulation than banks as they do not take household deposits. “It

NET-ZERO BANKING ALLIANCE TO STOP OPERATIONS AFTER MEMBER VOTE

Reuters (2025-10-03)

The Net-Zero Banking Alliance will stop operations "immediately" after members voted to stop being a member-based alliance after a number of leading banks left. Instead,

CANADA’S NEWEST MORTGAGE ALTERNATIVE: EASY MONEY, COSTLY FINE PRINT

FP - Robert Mclister (2025-10-03)

We’ve seen it with home equity lines of credit (HELOCs), all-in-one (a.k.a.

CARNEY NAMES RBC EXECUTIVE CEO OF NEW DEFENCE AGENCY

G&M (2025-10-03)

Prime Minister Mark Carney created a new Defence Investment Agency to build domestic manufacturing and accelerate the rearming of the Canadian military, aiming to boost sectors such as steel that have been damaged by U.S.

SEC EXPANDS CRYPTO CUSTODIAN ROSTER

Investment Executive (2025-10-02)

“Degrading our custody framework is a serious matter,” she said in a statement, adding that these standards are designed to protect investors against the risk of theft, loss, or misappropriation of their assets.

FIRMS FALLING SHORT ON KYC, SUITABILITY: BCSC

Investment Executive (2025-10-02)

Alongside KYC and suitability failings, the BCSC noted an “increasing number of deficiencies in annual financial statement submissions,” which is often a red flag that can trigger further regulatory attention.

BANK OF CANADA EXPECTS TO RELEASE BASELINE PROJECTIONS FOR ECONOMY, INFLATION IN OCTOBER - MINUTES OF MEETING

Yahoo Finance (2025-10-02)

The BoC reduced its key policy rate to a three-year low of 2.5%

SHARES OF CREDIT BUREAUS FALL AS FICO ROLLS OUT DIRECT MORTGAGE SCORE LICENSING

Yahoo Finance (2025-10-02)

Shares of major credit reporting companies tumbled on Thursday after U.S.

OPENAI BECOMES THE WORLD'S MOST VALUABLE STARTUP

Yahoo Finance (2025-10-02)

OpenAI has completed a deal to help employees sell shares in the company at a $500 billion valuation.

SUPREME COURT LETS LISA COOK REMAIN AS A FEDERAL RESERVE GOVERNOR FOR NOW

Yahoo Finance (2025-10-02)

The White House campaign to unseat Cook marks an unprecedented bid to reshape the Fed board, which was designed to be largely independent from day-to-day politics.

THE WALL STREET FIRMS THAT KEPT TIES WITH JEFFREY EPSTEIN UNTIL THE END

WSJ (2025-10-02)

Jeffrey Epstein never got kicked out of Wall Street’s VIP club.

JPMORGAN FILES PLANS TO PUT PRIVATE CREDIT INTO AN ETF WRAPPER

FP (2025-10-01)

“The U.S.

WIDELY-USED STABLECOINS NEED TO BE REGULATED LIKE MONEY, BOE'S BAILEY SAYS

Reuters (2025-10-01)

Bank of England Governor Andrew Bailey said on Wednesday that any stablecoin that becomes widely used as a means of payment in Britain needs to be regulated like standard banks, with depositor protections and access to BoE reserve facilities. Bailey

TD BANK LINKED TO EPSTEIN AGAIN AS PART OF U.S. CONGRESSIONAL INQUIRY INTO DISGRACED FINANCIER

G&M (2025-10-01)

Toronto-Dominion Bank’s TD-T connection to disgraced financier Jeffrey Epstein has resurfaced as part of a U.S.

CREDIT CARD FRAUD RISING IN CANADA, EQUIFAX REPORT SAYS

G&M (2025-10-01)

A new report says the second quarter of the year brought a sharp rise in credit card fraud. Equifax

BANK OF CANADA EXPECTS TO RELEASE BASELINE PROJECTIONS FOR ECONOMY, INFLATION IN OCTOBER - MINUTES OF MEETING

Yahoo Finance (2025-10-01)

The central bank had stopped giving definitive estimates for Canada's economy from the second quarter and instead opted to lay out a range of projections based on how U.S.

STRIPE IS ALREADY A PAYMENTS COLOSSUS. NOW IT WANTS TO MAKE STABLECOINS THE BACKBONE OF GLOBAL COMMERCE

Yahoo Finance (2025-10-01)

Almost a year after buying Bridge, Stripe is launching a product that will entail the $106 billion fintech’s further incorporating stablecoins into its core business—and potentially upending global payments.

EUROPEAN BANK STOCKS STILL HOLD APPEAL AFTER RECORD WINNING RUN

Bloomberg (2025-10-01)

European banking stocks have just matched their record quarterly winning run and the good news for bulls is that their performance looks far from stretched. The

CHARLIE JAVICE SENTENCED TO 7 YEARS IN PRISON FOR FRAUDULENT SALE OF FINANCIAL AID STARTUP

Investment Executive (2025-10-01)

Javice was among a number of young tech executives who vaulted to fame with supposedly disruptive or transformative companies, only to see them collapse amid questions about whether they had engaged in puffery and fraud while dealing with investors.

TD’S NEW CEO RAY CHUN IS CHOOSING SHAREHOLDERS OVER INVESTMENT BANKERS

G&M - Andrew Willis (2025-10-01)

Ray Chun just broke hearts among the dealmakers at TD Securities Inc.,

GOVERNMENT SHUTDOWN BEGINS AS FUNDING LAPSES

WSJ (2025-10-01)

Government funding lapsed early Wednesday morning after the White House and lawmakers failed to reach a spending deal, triggering a shutdown that is expected to halt some federal services and put hundreds of thousands of federal workers on furlough. The

LOWER RATES COULD HELP THESE UNLOVED BANK STOCKS SHINE

WSJ (2025-10-01)

Shares of smaller lenders have had a poor run against their bigger peers in recent years.

NAVIGATING CHANGE: RISKS, RESILIENCE AND REINVENTION

OSFI (2025-09-30)

Geopolitical instability, fast-moving technologies, and third-party reliance makes financial institutions vulnerable to cyber-attacks, state-linked interference, and integrity-related risks.

CIBC NAMES NEW CO-HEADS OF GLOBAL CORPORATE AND INVESTMENT BANKIN

G&M - Jameson Berkow (2025-09-30)

Canadian Imperial Bank of Commerce CM-T is continuing to shuffle its executive ranks with barely one month left before the lender gets a new leader. Mike

IMPERIAL OIL JOB CUTS COME AMID WIDER TECH-ENABLED EFFICIENCY PUSH IN ENERGY INDUSTRY

Yahoo Finance (2025-09-30)

The oilsands industry has for years been moving to self-driving trucks in mining operations, for example, but the growth of artificial intelligence means a wide swath of jobs could be increasingly automated.

TD’S US INVESTMENT-BANKING PUSH RISKS LEAVING CANADA BEHIND

Bloomberg - Christine Dobby and Chunzi X (2025-09-30)

As hundreds of TD Securities managing directors gathered at the Encore hotel overlooking Boston Harbor in June, there was a celebratory atmosphere in the air.

CANADIAN RENTERS OUTPERFORM HOMEOWNERS IN MOST CITIES: EVEN IN TORONTO

Better Dwelling (2025-09-30)

It may seem as clear as mud, but with a quick example, it becomes straightforward.

EUROPE’S TOP CENTRAL BANKER SAYS ECONOMY RESILIENT DESPITE TRUMP TARIFFS

Investment Executive (2025-09-30)

“A year ago, most would have assumed that U.S.

CANADIAN ECONOMY POISED FOR UPTURN IN 2026, BUT RISKS ABOUND, DELOITTE SAYS IN FALL OUTLOOK

G&M - CHRIS WILSON-SMITH (2025-09-29)

Canada’s path to firmer economic growth is coming into sharper view, but it runs along a narrowing route through Washington. After

SWIFT TO ADD BLOCKCHAIN-BASED LEDGER TO ITS INFRASTRUCTURE STACK IN GROUNDBREAKING MOVE TO ACCELERATE AND SCALE BENEFITS OF DIGITAL FINANCE ACROSS MORE THAN 200 COUNTRIES AND TERRITORIES WORLDWIDE

FT (2025-09-29)

Swift and a group of more than 30 financial institutions globally will develop a shared digital ledger, with initial focus on real-time 24/7 cross-border payments

RBC IS MAKING A MULTIBILLION-DOLLAR BET ON AI. WILL IT PAY OFF FOR CANADA'S LARGEST COMPANY?

FP (2025-09-29)

Instead of studying heartbeats, Agrafioti and her 950-strong team of data scientists and machine learning engineers now spend their time analyzing RBC’s reams of financial transaction data and the latest advancements in AI and machine learning to devise new AI applications to improve the bank’s services and products. AI

TD BANK’S NEW CEO IS READY TO UNVEIL HIS STRATEGY. BAY STREET IS WATCHING

G&M (2025-09-28)

Ray Chun is ready to unveil the roadmap he hopes will restore Toronto-Dominion Bank’s glory, and on Bay Street, the same question keeps coming up: How far can he push the bank’s Canadian business, which used to be a crown jewel? Exactly one year ago, in September, 2024, Mr.

HOW WALMART PLANS TO PREPARE AMERICA'S LARGEST PRIVATE WORKFORCE FOR AN AI-DRIVEN FUTURE

Yahoo Finance (2025-09-28)

One of the biggest areas of change in the last decade is related to associates that work in our stores, picking orders for delivery and pickup for our customers.

SONY FINANCIAL TO DEBUT ON TOKYO STOCK EXCHANGE AFTER SPINOFF

Bloomberg (2025-09-28)

Sony Financial Group Inc.

PRIVATE CREDIT IS ON COURSE FOR BIGGEST YEAR IN EMERGING MARKETS

Bloomberg (2025-09-28)

Emerging markets are on a tear this year and that is drawing some of the hottest names in finance — lenders from the world of private credit. Funding

INDUSTRY MOVES: BMO FINANCIAL GROUP PROMOTES RAHUL NALGIRKAR TO CFO

Investment Executive (2025-09-28)

Multiple moves for example: Tayfun Tuzun will be retiring as CFO of BMO Financial Group in early 2026 after four years in the role.

RAYMOND JAMES SNAGS 3 TEAMS FROM RICHARDSON WEALTH WITH $1B IN ASSETS

Investment Executive (2025-09-28)

Martin Wealth Management, Miles Wealth Management Group and Ruban Stark Wealth Partners will anchor the opening of a new Raymond James office in Winnipeg, a release said on Thursday.

OPINION: LIFE INSURANCE INDUSTRY’S NEGLECT OF ORPHAN POLICYHOLDERS POSES LONG-TERM RISKS

Investment Executive (2025-09-28)

Canada has no national servicing standards for in-force life insurance.

RBC EMPLOYEE ACCUSED OF ACCESSING CARNEY’S BANK PROFILE IN ALLEGED WIDER SCHEME

G&M - ALEXANDRA POSADZKI, EMILY HAWS (2025-09-25)

A former Royal Bank of Canada RY-T employee is facing criminal charges after allegedly accessing Prime Minister Mark Carney’s banking profile and participating in a fraud scheme believed to be linked to organized crime. Ibrahim

WEALTHSIMPLE, QUESTRADE ASK OTTAWA TO REGULATE REGISTERED ACCOUNT TRANSFERS

G&M - Erica Alini (2025-09-25)

Ottawa should regulate the cost and time it takes Canadians to transfer tax-advantaged investment and savings accounts from one financial institution to another, some digital brokers have told federal officials. In

EQUIFAX ROLLS OUT AI-POWERED TOOL OFFERING PERSONALIZED TIPS TO IMPROVE CREDIT SCORES

G&M - Erica Alini (2025-09-25)

Equifax Canada, one of two main credit bureaus in Canada, announced on Thursday the rollout of a new AI-powered tool it says will provide consumers with personalized tips to help them improve their credit scores. The

POPULATION GROWTH IN Q2 FELL TO SLOWEST PACE ON RECORD FOR QUARTER EXCLUDING PANDEMIC

Yahoo Finance (2025-09-25)

The increase in the population in the second quarter of this year came as international migration added 33,694 people.

MACQUARIE TO REPAY AUSTRALIAN INVESTORS $211 MILLION AFTER PENSION FUND COLLAPSE

Yahoo Finance (2025-09-25)

The Shield Master Fund was put into liquidation in 2024 and is being investigated by ASIC for mishandling retirees money.

CAN THE FED ESCAPE TRUMP’S CONTROL?

Bloomberg (2025-09-25)

It’s a historic moment for the US Federal Reserve.

TORONTO REAL ESTATE’S LATEST RECORD? DISTRESSED LISTINGS

Better Dwelling (2025-09-25)

Greater Toronto’s distressed listings are surging.

SUN LIFE’S BACK IN THE ETF BUSINESS

Investment Executive - Noushin Ziafati (2025-09-25)

Sun Life Global Investments president Oricia Smith said it’s an opportune time to re-enter the ETF industry, given the growing demand for ETFs in Canada, which are now sitting at more than $600 billion in assets under management (AUM).

THE RISE OF AI AGENTS AND THE FALL OF DIGITAL WALLETS

Pymnts - Karen Webster (2025-09-25)

Wallets became the “buy button” that sat between the consumer, her credentials and the merchant.

FINTRAC ISSUES NEARLY $20-MILLION PENALTY AGAINST CRYPTO EXCHANGE KUCOIN

G&M - ALEXANDRA POSADZK (2025-09-25)

FinTRAC said KuCoin failed to register as a money-services business and to report suspicious transactions and large virtual currency transactions to the watchdog. KuCoin

BIG BANKS WIN DISMISSAL OF LIBOR-RIGGING LITIGATION IN NEW YORK

Yahoo Finance (2025-09-25)

A federal judge on Thursday dismissed "all remaining claims" in a slew of antitrust litigation accusing large banks of conspiring to rig Libor, an interest rate benchmark that once underpinned hundreds of trillions of dollars of transactions, at investors' expense.

‘MOVE THEIR MONEY WHERE THEY WANT’: WEALTHSIMPLE WANTS FEDS TO REGULATE TRANSFER FEES FOR CANADIAN INVESTORS

BNN (2025-09-25)

“Canadians should be in control of their money,” said Jessica Oliver, Wealthsimple’s head of government and regulatory relations told BNN Bloomberg in a Wednesday interview.

SANTANDER AIMS TO SHED ABOUT €40 BILLION OF CREDIT RISK IN 2026

Bloomberg (2025-09-25)

Banco Santander SA, one of Europe’s most active sellers of bank risks and assets, expects offerings next year to match the pace set in 2025. Spain’s

CANADIAN REAL ESTATE PRICES NEAR ALL-TIME HIGHS, EXCEPT ONTARIO AND BC

Better Dwelling (2025-09-25)

The price of a typical home across Canada fell to $686,800 in August, down 19.4%

CREDIT UNIONS BET ON STABLECOINS TO KEEP MEMBERS … AND LIQUIDITY

Pymnts (2025-09-25)

Their collective warning to the community banking space was blunt: If members move liquidity to digital assets platforms that can also lend and settle payments through stablecoins, community institutions risk being disintermediated from their own revenue engines.

PBO PROJECTS HIGHER FEDERAL DEFICIT, POTENTIALLY BAD NEWS FOR MORTGAGE RATES

Mortgage Broker News (2025-09-25)

In a new report, the PBO said it expected the deficit to climb to $68.5

BANKS’ FOUR-DAY OFFICE MANDATE DRIVES NEW DEMAND IN TORONTO’S DOWNTOWN REAL ESTATE MARKET

Mortgage Broker News (2025-09-25)

Meanwhile, most Canadians in professional, finance, and knowledge jobs aren’t eager to give up remote work.

SCOTIABANK SAYS TECHNICAL GLITCH THAT DISRUPTED DIRECT DEPOSIT, CHEQUE PAYMENTS HAS BEEN RESOLVED

G&M (2026-01-28)

“We are deeply sorry for the inconvenience the earlier technical issue has had on our clients, and sincerely appreciate their patience as we worked through this,” Ms.

BROOKFIELD’S $20-BILLION TRANSITION FUND SHOWS INVESTOR CONFIDENCE IN CLEAN ENERGY REMAINS STRONG

G&M - EMMA GRANEY, JEFFREY JONES (2025-10-08)

Investors have committed US$20-billion to the second iteration of Brookfield Asset Management Ltd.’s

ROTHSCHILD FAMILY REPORTEDLY PLANS TO SELL ENTIRE STAKE IN THE ECONOMIST

G&M (2025-10-08)

British philanthropist Lynn Forester de Rothschild is looking to offload her family’s entire stake in global media and information company The Economist, Axios reported on Tuesday, citing a source familiar with the transaction. The

CARNEY RETURNS TO OTTAWA WITHOUT A DEAL TO END THE U.S. TARIFFS

Yahoo Finance (2025-10-08)

LeBlanc and Foreign Affairs Minister Anita Anand will both stay in Washington today for further meetings, including a planned conversation between Anand and Secretary of State Marco Rubio.