Major mutual fund companies urge OSC to relax proposed rules for controversial deferred fee funds: Several of Canada’s largest mutual fund companies are urging Ontario’s securities regulator to relax proposed rules that will allow them to continue to sell controversial mutual funds that charge investors early-withdrawal fees. (Clare O’Hara)
Canadian banks reap hefty fees from U.S. pandemic aid program: Four of Canada’s banks are collecting hundreds of millions of dollars in fees to help dole out the U.S. government’s COVID-19 aid to small businesses, sums that dwarf more modest compensation paid to banks by the Canadian government for a similar pandemic relief program. (James Bradshaw)
Dye & Durham prices IPO at high end of range amid strong demand: Legal software provider Dye & Durham Corp. has raised $150-million in an initial public offering, selling 20 million shares at $7.50, the high end of its initial range. The shares are expected to trade on the Toronto Stock Exchange as early as Friday, when the deal is set to close. (Sean Silcoff)
B.C. online caterer Foodee acquires U.S. rival, raises $13-million: A Vancouver online corporate catering business hit hard by the COVID-19 pandemic has bought an equally stricken U.S. rival – and raised new funds from investors who believe it will emerge in a stronger position as workers return to offices. (Sean Silcoff)
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