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Canadian Financial News

RBC to cut jobs, shake up wealth management unit

Friday, November 21, 2014 12:00 AM - Marie Alcober, BNN.ca Staff

RBC is expecting some job losses as it plans to exit its Caribbean operations, certain international advisory and international private banking groups in Canada and the U.S.

Banking culture breeds dishonesty, scientific study finds

Thursday, November 20, 2014 12:00 AM - Kate Kelland, Reuters

A banking culture that implicitly puts financial gain above all else fuels greed and dishonesty and makes bankers more likely to cheat, according to the findings of a scientific study.

Long-term car loans a worrying trend for auto, financing industry

Thursday, November 20, 2014 12:00 AM - Greg Keenan, The Globe and Mail

There is growing concern among senior executives in the auto and financing industry about long-term loans that some car companies are offering to entice buyers and boost sales.

TD units agree to pay $650,000 for overcharging clients

Thursday, November 13, 2014 12:00 AM - Janet McFarland, The Globe and Mail

Several subsidiaries of Toronto-Dominion Bank have agreed to pay $650,000 in sanctions and costs after admitting they overcharged at least $13.5-million worth of fees to clients stretching back as long as 14 years.

Manulife profit gets boost from Asian markets

Thursday, November 13, 2014 12:00 AM - Jacqueline Nelson, The Globe and Mail

Manulife Financial Corp. reported increased third quarter profit Thursday, supported by investment gains and higher insurance sales in Asia

U.S. OCC fines three banks $950M over forex misconduct

Wednesday, November 12, 2014 12:00 AM - Reuters

A U.S. bank regulator on Wednesday fined three top banks a total of $950 million for failing to prevent employees' misconduct in foreign exchange trading.

Scotiabank files to raise up to $7B in shares, debt

Wednesday, November 12, 2014 12:00 AM - Reuters

Bank of Nova Scotia filed with U.S. regulators to offer, from time to time, common shares, preferred shares and debt worth up to $7 billion.

Regulators fine global banks $3.4B in forex probe

Wednesday, November 12, 2014 12:00 AM - Kirstin Ridley and Joshua Franklin, Reuters

Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup, on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets.

Yuan trading hub accord sets Canadian banks racing for advantage

Monday, November 10, 2014 12:00 AM - Frederic Tomesco and Ari Altstedter, Bloomberg

Here are the banks that stand to benefit from Canada’s designation as the latest nation to host a trading hub for China’s currency.

OSC, TD units reach deal on overcharging client accounts

Friday, November 07, 2014 12:00 AM - Janet McFarland, The Globe and Mail

Staff of the Ontario Securities Commission have negotiated a settlement agreement with several divisions of Toronto-Dominion Bank after they revealed they overcharged fees to clients on certain accounts between 2000 and 2014.

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