Tag: Hiram

TORONTO — Scotiabank’s 1832 Asset Management LP will pay a fine after improper lavish spending on promotional activities for financial advisers.Under a settlement agreement with the Ontario Securities Commission, the firm will pay an $800,000 fine and an additional $150,000 for costs related to the regulator’s investigation.Investment fund managers are prohibited from providing “excessive non-monetary benefits” to advisers. Promotional activities and items are supposed to be of minimal value.Market watchdogs eye new rules on how companies disclose ‘material’ risks like climate change, cyber attacksMarket watchdogs pitch tougher rules for syndicated mortgages to protect investorsAccording to the settlement, the investment firm, which is the manager of the Dynamic family of mutual funds, failed to meet the minimum standards of conduct from November 2012 to October 2017.It provided tickets to NHL games, concerts and golf events. Investment conference attendees were also gifted Apple iPad minis, keyboards and sunglasses as well as pricey food, drinks and entertainment.The settlement noted that 1832 started to make changes last year to its internal practices aimed at improving its compliance.Glen Gowland, Scotiabank’s senior vice-president and head, asset management, said the bank takes its regulatory responsibilities seriously.“We will continue to work closely with regulators and others to ensure that, as manager of the Dynamic Funds, we meet all requirements with third-party dealers and dealer representatives,” Gowland said in a statement.“We were fully co-operative with the OSC staff during the investigation.” read more

Emily Clark follows through on her swing, hitting a double against Wright State on Sep.24. Credit: Gretchen Rudolph | For The LanternThe No. 17 Ohio State softball team returns from its 11-game stretch in California with an 8-3 record with two of its three losses coming to No. 3 UCLA and No. 5 Oklahoma. Ohio State now enters Big Ten season with a 19-4 overall record.The Buckeyes competed in both the Louisville Slugger Invitational from March 9-11 and the Easton Invitational from March 16-18 with a pair of games on Tuesday against Loyola Marymount and one game against California State University, Northridge Wednesday that were not part of either invitational.The nine-day stretch of play began with the Buckeyes winning three of the four games that they played in the Louisville Slugger, beating every team but UCLA. In total, Ohio State outscored their opponents a combined 16-14, a number that improves to 16-4 not counting the 11-0 loss to UCLA in five innings.Ohio State then followed up that series with three wins, the first two coming in a double-header against Loyola Marymount on Tuesday and the third coming against California State, Northridge on Wednesday.Two of the seven games lasted eight innings, bringing the total of extra-inning games played by Ohio State this year to six out of the 23 total games played.The Buckeyes won the San Jose State matchup by three runs scored in the top of the eighth that San Jose State was not able to respond to.In Ohio State’s first game against Loyola Marymount, senior catcher Taylor White had a triple in the top of the fifth to put the Buckeyes on the board. Loyola Marymount tied the game at one in the bottom of the seventh, but junior infielder Emily Clark homered in the top of the eighth to put the Buckeyes ahead and secure the Ohio State victory.Ohio State split the Easton Invitational, dropping the series opener to Grand Canyon and the series finale to Oklahoma. It defeated both California State Fullerton and California State University, Northridge in the middle two games.The team as well as head coach Kelly Kovach Schoenly foreshadowed that reigning national champion Oklahoma would provide the Buckeyes with a challenge. The Sooners, did just that, holding the Buckeyes to only two hits and winning 5-0. Standouts Starting in all 11 games, junior shortstop Lilli Piper recorded 19 hits and 16 RBI with a batting average of .500. The pitching staff combined to record 59 strikeouts and post a 2.82 ERA.Looking ForwardOhio State open conference play when it heads to Bloomington, Indiana, on Friday to take on the Hoosiers in a three-game series. read more