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Over the past 10 years, Bay Street’s best-rated stocks failed to beat the S&P/TSX composite index.Mark Blinch/The Globe and Mail

Good morning. Here are the top reads of the week form Streetwise. We're off for a few days but will be back next Wednesday. Have a great holiday.

Anyone who believes crime doesn't pay probably hasn't looked at Canada's woeful record of punishing people who peddle investments in fake companies and other financial frauds. Life is far too comfortable for white-collar criminals in this country. Just give regulators the tools to fix the problem, Barrie McKenna writes Story

$1,101,583,984.44. That's the amount of unpaid securities fines in Canada, a Globe investigation has determined. The massive figure shows how these sanctions are ignored by white-collar criminals – and how powerless regulators are to collect. Story (Grant Robertson and Tom Cardoso, for subscribers)

The use of an alias has opened the door for white-collar criminals to commit repeat offences before being caught, a year-long Globe investigation reveals. Story (Grant Robertson and Tom Cardoso, for subscribers)

Easy money: How fraudsters can make millions off Canadian investors, get barely punished and do it again. A Globe data investigation of 30 years' worth of regulatory cases reveals a toothless system. Story (Grant Robertson and Tom Cardoso, for subscribers)

Methodology: How The Globe and Mail detected repeat offenders in 30-years-worth of Canadian securities markets Story (Grant Robertson and Tom Cardoso, for subscribers)

By overhauling corporate taxes, American legislators have delivered a gift to some of Canada's largest banks that's potentially worth hundreds of millions of dollars a year in added profits. Story (James Bradshaw, for subscribers)

The Supreme Court of Canada says accounting firm Deloitte LLP is liable for negligent work as the auditor of defunct theatre company Livent Inc., but has rejected part of Deloitte's liability and reduced its required payments. Story (Janet McFarland)

Staff at securities regulators in Ontario and Saskatchewan endorsed the position of marijuana company Aurora Cannabis Inc. at a hearing Wednesday on Aurora's bid to quash a poison pill that is obstructing its hostile takeover of CanniMed Therapeutics Inc. Story (Christina Pellegrini)

Vancouver anti-fraud software provider ACL Services Ltd. has raised $50-million from Silicon Valley private-capital firm Norwest Venture Partners, the first time it has tapped outside investment in its 30-year history. Story (Sean Silcoff, for subscribers)

A former high-flying stock broker says Richardson GMP's executives brushed off his warnings that alcoholism was ruining his work and personal life then fired him after a lengthy stay in rehab. Story (Jeffrey Jones, for subscribers)

Bank of Montreal's roboadviser SmartFolio is looking to draw in more millennial investors by lowering its minimum account size to $1,000 from $5,000. Story (Clare O'Hara)

U.S. investment firms continued their blockbuster shopping spree in Canada on Monday, as Bolton, Ont.-based plastic specialist Husky IMS International Ltd. was sold for $3.85-billion (U.S.). Story (Jacqueline Nelson, for subscribers)

Ottawa is pushing venture capitalists to help fix the gender gap in the Canadian startup scene, telling those who want to qualify for a $400-million funding program they must "demonstrate how their strategies would advance these objectives." Story (Sean Silcoff, for subscribers)

A Chinese investment firm is buying a Frank Giustra-backed lithium exploration company run by a 29-year-old rookie CEO. Story (Niall McGee, for subscribers)

Medical marijuana company Aurora Cannabis Inc said on Monday its acquisition-target CanniMed Therapeutics Inc's plan to buy smaller rival Newstrike Resources Ltd was a "terrible deal" for CanniMed shareholders. Story (Christina Pellegrini)


Canadian pension funds Caisse de dépôt et placement du Québec and PSP Investments said on Friday they have bought minority stakes in Fives, an industrial engineering group based in France. Story

AT&T Inc and media and entertainment group Time Warner Inc, which are seeking to merge despite U.S. Justice Department opposition, extended the termination date for their deal to June 21, AT&T said in a filing on Friday. Story (for subscribers)

Qualcomm Inc on Friday rejected the 11 director nominees picked by Broadcom Ltd and private-equity firm Silver Lake Partners, likely setting the stage for a bitter proxy battle between the chipmakers. Story (for subscribers)

Canada's market for initial public offerings flourished in 2017 despite a drop in overall equity sales, as a lack of large transactions and fewer energy deals dragged down volumes. Story

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