Over the past 10 years, Bay Street’s best-rated stocks failed to beat the S&P/TSX composite index.Mark Blinch/The Globe and Mail
Canadian Imperial Bank of Commerce is searching for a new large-cap energy analyst. Story (Jeffrey Jones, for subscribers)
Royal Bank of Canada will open its robo-adviser platform to all existing RBC clients in Ontario in the new year and will be offering no management fees for the first six months. Story (Clare O'Hara, for subscribers)
INVESTIGATION
$1,101,583,984.44. That's the amount of unpaid securities fines in Canada, a Globe investigation has determined. The massive figure shows how these sanctions are ignored by white-collar criminals – and how powerless regulators are to collect. Story (Grant Robertson and Tom Cardoso, for subscribers)
The use of an alias has opened the door for white-collar criminals to commit repeat offences before being caught, a year-long Globe investigation reveals. Story (Grant Robertson and Tom Cardoso, for subscribers)
Easy money: How fraudsters can make millions off Canadian investors, get barely punished and do it again. A Globe data investigation of 30 years' worth of regulatory cases reveals a toothless system. Story (Grant Robertson and Tom Cardoso, for subscribers)
Methodology: How The Globe and Mail detected repeat offenders in 30-years-worth of Canadian securities markets Story (Grant Robertson and Tom Cardoso, for subscribers)
FINANCIAL SERVICES WRAP
Sun Life Financial Investment Services in Canada must pay a $1.7-million fine and $100,000 in costs as part of a settlement agreement with the body that regulates Canada's mutual fund dealers. Story
Bank of Montreal has named three deputy heads of investment banking to newly created positions under a revised structure to centralize industry coverage in its capital markets division, according to an organizational chart seen by Reuters. Story
Swiss financial watchdog FINMA said on Thursday the Swiss subsidiary of U.S. bank JPMorgan had committed serious anti-money laundering breaches in relation to Malaysian sovereign wealth fund 1MDB. Story
Police are seeking to arrest a Toronto businessman charged with the fraudulent sale of hundreds of millions of dollars of securities to Chinese citizens. The allegations against Xiao Hua Gong, also known as Edward Gong, follow an investigation by the Ontario Securities Commission. Story
DEAL WRAP
Medical marijuana producer Aphria Inc. says it plans to invest $10-million in a company merging two cannabis brands to target the incoming recreational pot market in Canada. Story
Planemakers Boeing Co and Embraer SA are discussing a "potential combination of their businesses," the companies said on Thursday, in a move that could consolidate a global passenger jet duopoly.Embraer's shares soared around 30 per cent in Sao Paulo on the joint statement released in Brazil, which did not give details of how a potential tie-up would be structured. Boeing shares were down 0.7 per cent. Story
Chinese ride-hailing firm Didi Chuxing Technology Co on Thursday said it has raised $4-billion (U.S.) in funds earmarked for expansion overseas and into areas such as artificial intelligence (AI), as it looks to challenge Uber Technologies Inc. Story
Nestle expects to sell its U.S. confectionery business in the first quarter of 2018, following a review launched earlier this year as part of efforts to improve performance at the world's largest packaged food company. Story (for subscribers)
Penske Media Corp said late Wednesday it is buying a majority stake in the Rolling Stone magazine from its New York-based publisher, Wenner Media. Story