A Bay Street sign hangs in front of the CN Tower in the financial district in Toronto.Mark Blinch/The Globe and Mail
Ontario Teachers' Pension Plan is getting a new partner in its investment in a growing European airport that is in the midst of an expansion. Story (Jacqueline Nelson)
The recent announcements by two national law firms that senior executives from PricewaterhouseCoopers and KPMG Canada would be joining them in key strategic roles is telling evidence that traditionalists are finally appreciating the extent to which the Big Four accounting firms have reset their sights on the country's legal-services market. Story (Lexpert, for subscribers)
DEALS AND FINANCINGS
Canadian lifestyle retailer Roots Corp said on Wednesday it filed a preliminary prospectus with the securities regulatory authorities in Canada for a proposed initial public offering of its common shares. Story
RealtyShares, a leading online marketplace for real estate investing, today announced it has raised $28-million (U.S.) in Series C financing from Cross Creek Advisors, Danhua Capital, Barry Sternlicht (Founder of Starwood Capital and Starwood Resorts) and Bow Capital, along with prior investors Union Square Ventures, General Catalyst Partners, and Menlo Ventures. Story (VentureBeat)
The Blackmoon Crypto platform, which touts itself as "a one-stop solution for asset managers to create and manage legally-compliant tokenized funds," has raised more than $20-million (U.S.) in just one day through an ICO that launched on September 12. Story (VentureBeat)
ELSEWHERE IN FINANCIAL SERVICES
The Canadian Automobile Association says it is informing about 10,000 of its members that they may have had sensitive data compromised by the massive Equifax cybersecurity breach. Story
The federal government should stop its "war on first-time home buyers" and hold off on proposed changes to mortgage qualification rules as the slumping Ontario housing market absorbs the impact of two recent interest-rate increases, the head of the Ontario Real Estate Association says. Story (Janet McFarland, for subscribers)
WHAT WE'RE READING
Fintechs serving Canadians: Which verticals are thriving? Story (Betakit)
Foreign venture capital investments accounted more than half (54.7 per cent) of total Canadian venture capital disbursements in first half of 2017, CPE Media inaugural first half of 2107 VC report reveals. Story (Private Capital Journal)
"The smartest people ain't gonna do research," says Davide Serra, chief executive officer at Algebris Investments, discussing the potential impact of MiFID II rules on research. Story (Bloomberg)
BlackRock Inc. says it won't pass the cost of investment research onto clients when new European regulations come into force in January, joining a growing number of asset managers who are planning to absorb the extra expense. Story (Bloomberg)
A Canadian marijuana producer is forging ahead with a U.S. expansion, despite being caught in the crosshairs of a regulatory review weighing the validity of company investments south of the border where the drug is illegal federally. Story (Bloomberg)
The private equity industry will continue to play a growing role in financial markets, fueled by low yields and investors' willingness to forgo traditional risk protections, Michael Milken said. Story (Bloomberg)
Pitchbook's favorite VC-backed companies Story (Pitchbook)
How convertible notes drive founders away from emerging ecosystems Story (VentureBeat)
IN CASE YOU MISSED IT
A week after one of the most powerful hurricanes in the past half-century pounded Caribbean islands and the southern United States, Canadian banks that operate in the affected regions are sorting through the destruction and working to restore essential services. Story (James Bradshaw and Christina Pellegrini, for subscribers)
One of the biggest scandals in recent Canadian corporate history may be a mere prelude to a massive economic collapse, if a documentary making its world premiere at the Toronto International Film Festival is to be believed. Story (Simon Houpt, for subscribers)