GOP treasurers withdraw $1B from BlackRock over ESG investments

GOP treasurers withdraw B from BlackRock over ESG investments

The world’s largest asset manager is facing $1 billion in withdrawals from Republican state treasurers because of the financial giant’s investment priorities, according to published reports. BlackRock, which manages $8.5 trillion, has come under fire for its aggressive push on so-called ESG investments that promote environmental, social and governance issues. The outrage has led multiple … Read more

British lender Barclays hit by $361-million US penalty for ‘staggering’ blunder

British lender Barclays hit by 1-million US penalty for ‘staggering’ blunder

A branch of Barclays Bank in London, on Feb. 23.PETER NICHOLLS/Reuters British lender Barclays BCS-N agreed a $361-million penalty with US regulators on Thursday for “staggering” failures that led it to oversell $17.7-billion of structured products, racking up further costs for an error that has blighted CEO CS Venkatakrishnan’s first year in charge. The bank … Read more

Ontario Securities Commission launches inquiries at multiple audit firms

Ontario Securities Commission launches inquiries at multiple audit firms

The doors to the Ontario Securities Commission hearing rooms in Toronto on Dec. 12, 2019.Melissa Tait/The Globe and Mail The Ontario Securities Commission says it has started inquiries at multiple accounting firms that have been caught committing ethical violations by other regulators. The OSC did not explicitly name the firms, but Canadian or US affiliates … Read more

Social media superstar Dan Bilzerian’s Ontario cannabis company under investigation

Social media superstar Dan Bilzerian’s Ontario cannabis company under investigation

A Canadian company run by a US social-media star faces criminal and civil investigations of accounting fraud in the United States, and is under regulatory investigation in Canada, a court filing has revealed. Ignite International Brands Ltd., headquartered in Markham, Ont., operated in the Canadian cannabis market until last October. It is run by chief … Read more

Here’s what investors need to know about single-stock ETFs

Here’s what investors need to know about single-stock ETFs

Oscar Wong | Time | Getty Images Most investors think of exchange-traded funds as a simple way to buy a diversified basket of individual stocks tracking an index or with exposure to a particular theme. But now there are also so-called single-stock ETFs, allowing leveraged bets on individual stocks. However, regulators and advisors warn these … Read more

New ETF gears up to attract hesitant investors

New ETF gears up to attract hesitant investors

Risk-averse investors have a new option to make safer bets on Tesla. Innovator ETFs launched the Innovator Hedged TSLA Strategy ETF (TSLH) – among other defined outcome products – last month. According to the ETF’s CEO Bruce Bond, it gives investors exposure to the stock while largely steering clear of volatility and valuation risks by … Read more

Canada’s accounting regulator to review EY after company fined in ethics exam cheating scandal

Canada’s accounting regulator to review EY after company fined in ethics exam cheating scandal

Canada’s audit regulator will ask Ernst & Young if its employees cheated on exams and training courses after the firm was handed a record penalty for allowing hundreds of its workers to do so in the US The US Securities and Exchange Commission announced a US$100-million settlement with E&Y after 49 of its audit professionals … Read more

Strange Honeycomb Pattern on Mars Appears to Be Formed by Water Ice And CO2

Strange Honeycomb Pattern on Mars Appears to Be Formed by Water Ice And CO2

From orbit, this landscape on Mars looks like a lacy honeycomb or a spider web. But the unusual polygon-shaped features aren’t created by Martian bees or spiders; they are actually formed from an ongoing process of seasonal change from created from water ice and carbon dioxide. The HiRISE camera (High Resolution Imaging Science Experiment) on … Read more

New sweeping crypto bill unveiled and it classifies most digital assets as commodities

New sweeping crypto bill unveiled and it classifies most digital assets as commodities

(Kitco News) A bipartisan Senate duo unveiled the widely anticipated sweeping crypto regulation on Tuesday. The bill provides some much-needed clarity for crypto markets and defines most digital assets as commodities, giving most of the oversight to the Commodity Futures Trading Commission (CFTC). Known as the Responsible Financial Innovation Act, the bill was introduced by … Read more

BC Hells Angel member and former CFL player accused in US$194-million pump-and-dump scam

BC Hells Angel member and former CFL player accused in US4-million pump-and-dump scam

Courtney Vasseur, a British Columbia Hells Angels member, and former Canadian Football League player David Sidoo are among 16 people accused of perpetrating a sprawling international pump-and-dump scam that lasted more than a decade and bilked investors out of an alleged US$194- million. The US Securities and Exchange Commission and the US Attorney’s Office for … Read more