Roy Gori, 48, CEO of Manulife Insurance is photographed on the premises of its Toronto headquarters on Wednesday, September 27, 2017.(Christopher Katsarov/The Globe and Mail)Christopher Katsarov/The Globe and Mail
Three months into his tenure as Manulife Financial Corp.'s chief executive officer, Roy Gori is taking on the role of insurgent. Story (Tim Kiladze, for subscribers)
The consumer watchdog probing sales practices at Canadian banks has revamped the timeline to deliver its findings, and now plans to issue a full report in the early months of the new year. Story (James Bradshaw)
Investors Roland Keiper and Brian Chapman have sued Home Capital Group Inc. and three of its former executives for $2-million, alleging negligent behaviour, untimely disclosures and public misrepresentations. Story (Rachelle Younglai, for subscribers)
FINANCIAL SERVICES WRAP
Citigroup Inc. will pay at least $11.5-million (U.S.) in fines and restitution to settle charges it displayed the wrong research ratings on more than 1,800 stocks, causing many customers to own shares they never would have bought, a U.S. regulator said on Thursday. Story
China's massive shadow banking industry is conducted outside the normal banking system. For the country'ss rulers, the fear is that there may be more bad loans in the shadows of the financial system. The danger is that a big default or series of loan losses could cascade through the world's second-biggest economy, leading to a sudden halt in bank lending. Story
Goldman Sachs has picked Dublin as a centre for administrative staff in its asset management business following Britain's vote to leave the European Union, a source familiar with the matter said. Story
DEALS WRAP
Uber Technologies Inc. shareholders are said to have agreed to sell a sizable stake in the ride-hailing leader to an investor group led by SoftBank Group Corp., allowing the Japanese conglomerate to amass a piece of the company at a steep discount to the last valuation. Story
WHAT WE'RE READING
A slowdown in big energy deals pushed the value of mergers in Canada lower for the first time since 2013, offsetting a decade-high resurgence in domestic transactions. Story
What Canada's financial industry fears in 2018 Opinion
IN CASE YOU MISSED IT: EASY MONEY INVESTAGATIVE SERIES
The federal government says it "has taken note of the concerns" raised by a recent Globe and Mail investigation into fraud, repeat offenders and lax enforcement in capital markets and is looking to address them with its provincial counterparts. Story (Shawn McCarthy, for subscribers)
Read the series from the beginning:
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)
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)
$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)
Barrie McKenna: Anyone who believes crime doesn't pay probably hasn't looked at Canada's woeful record of punishing people who peddle investments in fake companies and other financial frauds. Life is far too comfortable for white-collar criminals in this country. Just give regulators the tools to fix the problem. Column (for subscribers)
Investor advocacy groups say the Canadian Securities Administrators is making misleading statements and being "willfully blind" to problems in the capital markets after the organization responded this week to an investigation by The Globe and Mail. Story (Grant Robertson and Tom Cardoso, for subscribers)
The provincial governments that oversee the vast majority of Canada's capital markets say the revelations from a recent Globe and Mail investigation into white-collar crime across the country are a serious concern – and that steps must be taken to fix those problems. Story (Grant Robertson and Justin Giovannetti, for subscribers)