YBM auditors need time, OSC told

Article Abstract:

YBM Magnex International Inc. auditors may require more time to completely review reports before deciding to sign the firm's 1997 financial statements, according to the Ontario Securities Commission (OSC). John McDougall, a lawyer for Deloitte & Touche LLP, stated that YBM auditors should finish its evaluation of the tentative YBM report before resolving if they can complete the audit. The OSC has temporarily suspended YBM's shares from trading on May 13, 1998, brought about by the firm's failure to file audited financial statements for 1997.

Comment:

Auditors for the co may require more time to completely review reports before deciding to sign co's 1997 financial statements

Motorcycle, Bicycle, and Parts Manufacturing, Bicycles, YBM Magnex International Inc., Article

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Office market searches for signs of life

Article Abstract:

Demand for office space in major Canadian markets should begin to recover in 1999 following a weak market the previous year, said John Campbell, president of Brookfield Management Services. Demand and rates were down in 1998 due to the volatility in global stock markets and uncertainty over the merger of four of Canada's big banks. An uptick in demand for space in 1999 should result in lower vacancy rates because no major project is expected to come online in 1999.

Market information - general, Lessors of Nonresidential Buildings (except Miniwarehouses), Lessors of Nonresidential Bldgs

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Market-timing fines should go to investors, advocates say: Managers who allowed practice should compensate long-term unitholders

Article Abstract:

Mutual fund managers should compensate long-term unitholders for their losses as they allowed market timers to scoop up quick profits by zipping in and out of their funds. Gloriane Stromberg, a former commissioner at the Ontario Securities Commission states that the money from any fines the regulators might impose should go to fund investors.

Management dynamics, Management, Investor relations, Company business management, Mutual fund managers

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