RBC implicated over Enron

Article Abstract:

Royal Bank of Canada (RBC) is accused of being aware of the fact that Enron Corp.'s executives were engaged in wrongful conduct and providing assistance to Enron in manipulating financial statements by a court-appointed examiner who is examining Enron Corp.'s failure. The accusation makes RBC the third bank in Canada to be accused in the scandal.

United States, Commercial Banks, Legal issues & crime, Natural gas transmission, Banking industry, Company legal issue, Investigations, Gas transmission industry, Enron Corp., Royal Bank of Canada, Company financing, ENRNQ

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Sun Life Financial cuts U.S. spending

Article Abstract:

Sun Life Financial Services of Canada Inc. has implemented a freeze on hiring, reduced salaries of executives, and reduced all discretionary spending in its US-based money management unit. The moves are in response to the sluggish equity markets in North America.

Financial Services, Finance and Insurance, Financial services industry, Sun Life Financial Services of Canada Inc.

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