Scrutiny of sales commissions intensifies

Article Abstract:

Manulife Financial Corp., Canada's largest insurer, is reviewing its sales commission practices, following a mounting controversy over lucrative incentives paid to brokers on top of their normal fees. The company has launched the review, as it expects that its US subsidiary would be queried by regulators as part of a widening investigation in the US into commissions in the insurance industry.

Sales, profits & dividends, INSURANCE CARRIERS, Insurance industry, Company sales and earnings, Company earnings/profit, Manulife Financial Corp., MFC

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New minister in charge of OSC to stop warning calls to ministry

Article Abstract:

The provincial cabinet minister in charge of the Ontario Securities Commission, Gerry Phillips, stopped the regulatorEs staff from providing phone calls to the ministry about investigations. He stated that he want no knowledge of any investigations before it is made public.

Powers and duties, Cabinet officers, Cabinet officials, Ontario. Securities Commission, Phillips, Gerry

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CIBC-Enron dealings revealed

Article Abstract:

A court-appointed examiner reports that Canadian Imperial Bank of Commerce was far more involved with Enron Corp. than previously disclosed.

Legal/Government Regulation, Banking industry, Cases, Energy industries, Energy industry, Enron Corp., Canadian Imperial Bank of Commerce, ENE

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