Latest news with #Canadians'
Cision Canada
an hour ago
- Business
- Cision Canada
Decision Notice - CIRO Hearing Panel issues Reasons for Decision in the matter of Ken Kin Kit Lui and Devina Master Français
TORONTO, /CNW/ - Following a disciplinary hearing held on June 11, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) under the Mutual Fund Dealer Rules issued its reasons for decision in the matter of Ken Kin Kit Lui and Devina Master on July 24, 2025. The panel found that: Ken Lui engaged in outside activities that were not disclosed to or approved by the Dealer Member, Ken Lui and Devina Master engaged in personal financial dealings with clients giving rise to conflicts or potential conflicts of interest that they failed to disclose to the Dealer Member or otherwise address by the exercise of responsible business judgment influenced only by the best interests of the clients, and Ken Lui and Devina Master failed to cooperate with an investigation by CIRO Staff into their conduct. The hearing panel imposed the following sanctions on Ken Lui: a permanent prohibition from conducting securities related business while in the employ of or associated with any Dealer Member of CIRO, and a fine of $770,947.17. Ken Lui is also required to pay costs in the amount of $25,000. The hearing panel imposed the following sanctions on Devina Master: a permanent prohibition from conducting securities related business while in the employ of or associated with any Dealer Member of CIRO, and a fine of $150,000. Devina Master is also required to pay costs in the amount of $15,000. The hearing panel's reasons for decision are available at: Re Lui and Master CIRO 36 The violations occurred while Ken Lui and Devina Master were Registered Representatives with the Toronto, Ontario branch of CIBC Securities Inc. Ken Lui and Devina Master are not currently registered in the securities industry in any capacity. The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO's website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322. CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms. SOURCE Canadian Investment Regulatory Organization (CIRO)
Hamilton Spectator
a day ago
- Business
- Hamilton Spectator
Air Canada sees revenue growth in international markets beyond U.S.
Air Canada says it has been shifting capacity toward high-demand international markets as Canadians' appetite for cross-border travel continues to lag. Passenger revenues from the airline's U.S. transborder segment dropped 11 per cent during the three months ended June 30 compared to last year, to $961 million, while domestic, Atlantic and Latin American markets saw a boost. 'This second quarter was not business as usual,' chief commercial officer Mark Galardo told analysts on a conference call Tuesday. 'We navigated through a period of significant economic and geopolitical uncertainty and we contended with reduced demand for transborder travel, an evolving geopolitical landscape affecting the Middle East and India, increased competition in China-Hong Kong and some currency fluctuations.' The Trump administration's tariff threats, immigration crackdowns and musings about annexing Canada have prompted many Canadians to shun U.S. travel. The decline has shown up in Statistics Canada data. Last month, the agency said Canadian-resident returns from the United States by air declined more than 24 per cent in May compared to the same month a year earlier, continuing a five-month downward trend. Returning automobile traffic was down 38 per cent year-over-year in May. 'We made the right early calls to match our capacity to the evolving demand landscape, and our diversified network and disciplined capacity management supported strong performance in international overall,' said Galardo. Domestic routes saw a three per cent boost in revenues during the quarter. 'We kept a strong and steady presence and offered more options for travellers to explore the country, increasing capacity on key leisure destinations,' Galardo said. Capacity has also shifted from the transborder market to sun destinations going into the second half of the year. Galardo added the airline is closely monitoring the Canada-U.S. sector and has the flexibility to adjust to changing market conditions. Air Canada shares dropped almost 15 per cent in afternoon trading on the TSX to $18.82 after it reported a drop in second-quarter profits that missed analyst expectations. The airline reported net income of $186 million in the period, down from $410 million in the same quarter last year. Air Canada says that on an adjusted basis, it had a net income of $207 million in the quarter compared with $369 million in the same quarter last year. Adjusted earnings worked out to 60 cents per diluted share in the quarter, compared to 98 cents per share last year. Analysts on average had expected an adjusted profit of 72 cents per diluted share, according to LSEG Data & Analytics. Passenger revenues in the quarter amounted to $5.03 billion, up one per cent from last year on 2.5 per cent capacity growth. Despite the challenges, the airline reaffirmed its financial guidance for the year that it issued in May. Results were slightly below expectations on higher-than-expected costs but overall fairly neutral, said RBC analyst James McGarragle in a note. 'We are taking a neutral view on the results, as the broader narrative of demand recovery and operational realignment remains intact despite the modest cost-related headwinds in the quarter.' This report by The Canadian Press was first published July 29, 2025. Companies in this story: (TSX: AC)
Toronto Star
a day ago
- Business
- Toronto Star
Air Canada sees revenue growth in international markets beyond U.S.
Air Canada says it has been shifting capacity toward high-demand international markets as Canadians' appetite for cross-border travel continues to lag. Passenger revenues from the airline's U.S. transborder segment dropped 11 per cent during the three months ended June 30 compared to last year, to $961 million, while domestic, Atlantic and Latin American markets saw a boost.
National Observer
a day ago
- Automotive
- National Observer
An EV sales mandate is good public health policy, analysis shows
If the federal government caves to automakers' pressure to cancel the electric vehicle sales mandate, there will be significant negative impacts to Canadians' health, medical professionals and researchers warn. The federal policy — which requires hybrids and EVs to make up 20 per cent of sales in 2026 and 100 per cent by 2035 — will save Canada more than $90 billion and 11,000 premature deaths over the next 25 years, according to analysis by The Atmospheric Fund, a Toronto-based non-profit focused on climate change and air pollution. 'We are devastating the future generation,' said registered nurse Doris Grinspun in an interview with Canada's National Observer. And as if the death toll of pollution wasn't enough, she said, hospitalizations also impose significant costs on already strained healthcare systems. 'While the EV availability standard has been communicated from the beginning as a climate policy, we think it's equally, if not more compelling as a health policy,' said Bryan Purcell, the vice-president of policy and programs for The Atmospheric Fund. 'When you look at these kind of numbers of avoided deaths that can be achieved and other health benefits, I think it could purely justify the policy on health grounds, even if we didn't have a climate crisis on our hands,' he added. Climate change and health are inextricably linked. Gas- and diesel-powered vehicles release harmful pollutants into the air, including planet-warming greenhouse gas emissions. Burning fossil fuels such as coal, oil and gas is a main driver of climate change and as the planet warms, wildfires become more frequent and severe, often blanketing vast swaths of land in acrid smoke while pollen and other allergens become more prevalent. Air pollution is undeniably bad for humans: long-term exposure increases the risk of developing all manner of conditions, including lung diseases, heart disease and cancer. 'When you look at these kind of numbers of avoided deaths that can be achieved and other health benefits, I think it could purely justify the policy on health grounds, even if we didn't have a climate crisis on our hands,' said Bryan Purcell with TAF Health Canada warns exposure to traffic-related air pollution (from vehicle exhaust, tire and brake wear and tear and other particles) leads to the development and worsening of asthma symptoms in children, lung cancer in adults and premature deaths. It also likely causes childhood leukemia and cardiovascular diseases. Some people — including children, pregnant women, people with pre-existing conditions and seniors — are more vulnerable to air pollution and communities located near major roads or industrial areas are more likely to be Indigenous, racialized or poorer, said Grinspun. Take asthma, for example. 'I used to have it when I was a kid, it feels like you're dying to the child and to the parents,' Grinspun said. Compared to lung cancer, a respiratory disease like asthma may sound less serious, but it is still devastating to human health and puts a huge burden on Canada's healthcare systems, said Grinspun, who is CEO of the Registered Nurses' Association of Ontario. Asthma causes an estimated 300 deaths and 80,000 emergency room visits each year, according to advocacy group Asthma Canada's 2024 report. Asthma Canada estimates this disease alone will cost the Canadian economy $4.2 billion by 2033. Unless countries, including Canada, take major steps to curb greenhouse gas emissions and phase out fossil fuels, climate change will keep accelerating and with it air pollution and the associated negative health impacts and loss of life. The Atmospheric Fund's analysis only examined the impacts of reduced air pollution from gas vehicles in Canada's two major corridors: southwestern British Columbia and the Windsor-Quebec City Corridor. The estimated $90-plus billion savings and 11,000 avoided premature deaths would be even higher if applied across the whole country, explained Purcell. Automakers lobbying the federal government say they cannot meet the targets in the Electric Vehicle Availability Standard, pointing to the ongoing trade war with the United States and dip in EV sales in early 2025. 'Putting seat belts in cars was opposed by every North American automaker as a regulation and they used the same kinds of arguments they're using today,' Purcell said. Arguments that it should be up to consumer choice were also part of the seat belt and airbags conversation, he noted. 'Ultimately, governments decided that that wasn't the case, that actually there was a role for public policy to protect the public interest and public safety and we really see this regulation very similarly,' Purcell said. The dip in EV sales coincided with the federal government ending its $5,000 EV rebate program. At the same time, Quebec — a major player in the EV market — paused its rebate program when funds ran dry, causing a dip in sales, Purcell added. In June, federal Environment and Climate Change Minister Julie Dabrusin said the government was working to bring back some type of EV rebate but what exactly that will look like is still unknown. 'Many other parts of the country, including Ontario, saw modest increases in sales or flat sales,' Purcell said, indicating the slowdown in the first quarter of 2025 is likely associated with the changes to those rebate programs. The transportation sector is Canada's at 23 per cent, trailing the oil and gas sector at 30 per cent of national emissions. More than half the transport sector's emissions are from passenger cars and trucks. Passenger buses, trains and other transit make up a comparatively tiny share even though aviation emissions are included in the same category.
Cision Canada
2 days ago
- Business
- Cision Canada
Hearing Notice - CIRO to Hold a Settlement Hearing for Regan Donald Eric Espeseth Français
SASKATOON, SK, July 28, 2025 /CNW/ - A hearing has been scheduled before a hearing panel of the Canadian Investment Regulatory Organization (CIRO) pursuant to the Investment Dealer and Partially Consolidated Rules to consider a settlement agreement between CIRO Enforcement Staff and Regan Donald Eric Espeseth. The hearing will become open to the public if the panel accepts the settlement agreement. If the settlement agreement is accepted, the panel's decision and the settlement agreement will be made available at Settlement Hearing Date: August 19, 2025 at 10:30 a.m. (Central Standard Time) Location: Saskatoon, Saskatchewan (by videoconference) Members of the public who would like to obtain further particulars should fill out this form. The Notice of Application announcing the settlement hearing is available at: At all material times, Regan Espeseth conducted business in Saskatoon, Saskatchewan as a Registered representative with RBC Dominion Securities Inc. Regan Espeseth is currently not registered in the securities industry in any capacity. The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO's website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322. CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.
