Canadian fintech company Wealthsimple launched its country’s first regulated crypto exchange on Monday, just a month after regulators gave the company the go-ahead.
Sun Life Financial U.S. has added a trio of COVID-19 insurance products to its stop-loss line, including coverage for outbreaks in the workplace, as a way to try to meet the high demand for pandemic-related coverage options.
A group of global businesses led by Bank of America on Tuesday put forward a universal set of standards for measuring and disclosing environmental, social and governance factors in nonfinancial reporting for investors, laying the groundwork for alignment on an issue that has proved slippery despite widespread acknowledgement of its importance.
Norway’s Ministry of Finance said on Monday that it is considering shifting its equities benchmark for its sovereign wealth fund, which is ranked as the world’s biggest, away from Europe and toward the U.S. and Canada, a move that it said will help improve alignment with “value creation” of publicly traded companies.
Toronto-headquartered CI Financial revealed Monday that it gained additional ground in its continued charge into U.S. wealth management business with a deal to acquire Ohio-based Bowling Portfolio Management and its $450 million in assets under management.
Mackenzie Financial and insurance holding firm Great-West Lifeco have acquired a strategic interest in Northleaf Capital Partners, advancing an expansion for Mackenzie into private equity investment.
Carolyn Wilkins will not seek a second term as Bank of Canada senior deputy governor, setting an end date on her 20-year career at the bank after being passed over for the governor position in the spring.
The world’s largest banks are better equipped to handle the current crisis than the rest of the sector as a result of regulation and restructuring imposed after the 2008 financial crisis, Moody’s said Thursday.
U.S. private equity firm Blackstone is making a foray into the Lloyd’s of London market as one of two investors committing $500 million to all-digital syndicate Ki, specialty insurer Brit, the startup’s inaugural backer, said Thursday.
TD Asset Management added to its lineup of sustainable investing options on Thursday with the launch of two new mutual funds focused on creating wider access to the growing trend of green finance in Canada and throughout North America.
PIMCO, the eighth-largest U.S. asset manager, has tapped former central bank veteran and climate finance specialist Mark Carney to join a team of high-profile advisors helping to inform the firm’s investment decisions.
Canadian insurer Manulife will offer coverage for coronavirus-related travel interruptions and health expenses starting in October as part of a new travel insurance plan, the firm said Wednesday.
The U.S. Federal Reserve maintained its near-zero interest rate levels on Wednesday, signaling in a set of economic projections that it does not expect to raise interest rates through at least 2023.
Vanguard Asset Management’s Canadian arm has rolled out a new exchange-traded fund designed to pay steady monthly income to retirees, a product the company said could help investors manage risk and avoid outliving their savings.
Alternative investment manager Apollo named the leadership team of its new impact investing platform on Tuesday, becoming the latest private equity firm to pledge to focus on environmental, social and governance goals.
Munich Re said Tuesday that it’s working with digital agriculture company Farmers Edge to “transform” parametric insurance for crop growers through unique, farm-specific technology that can detect weather-related claims and trigger instant payouts.
Visa said on Tuesday that it is bringing its online checkout service Click to Pay to Canada, which will let shoppers make purchases without needing to repeatedly manually give their passwords and account numbers, citing a recent surge in domestic e-commerce.
BMO Investments launched four new sustainable funds, creating new options for retail investors interested in low-risk sustainable investing, as it catches up on the surging environmental, social and governance trend. Correction: A previous version of this story misstated the number of BMO's existing sustainable funds and the total assets BMO Financial Group had under management. The errors have been corrected.
Insurers are expected to appeal the U.K. High Court’s ruling in a high-profile test case brought by the country’s financial regulator, but policyholder advocates largely declared victory after several wordings were found to trigger coverage for COVID-19 business interruption losses, affecting 370,000 policyholders and establishing a marker for the industry.
U.S. investment managers are receiving less regulatory support for sustainable investing practices than European Union and U.K. counterparts, creating a risk they may fall behind on that trend, Fitch said.