Telus union joins opposition to any Verizon special treatment

BURNABY, B.C. — The Telecommunications Workers Union, representing Telus and Shaw workers across Canada, is adding its voice to those opposed to any special treatment for Verizon to enter Canada’s wireless market.The union says there’s no guarantee of lower cellphone bills for Canadians and Verizon will operate in lucrative urban markets, ignoring rural communities.The Telecommunications Workers Union joins the Canadian Chamber of Commerce, the Canadian Council of Chief Executives, and the Communications, Energy and Paperworkers Union of Canada in calling on Ottawa to allow all wireless companies to operate on the same level playing field.Canada’s big wireless carriers, Telus, Rogers and Bell, have also launched a media blitz to warn that, under the current rules, they would be at a disadvantage if Verizon were allowed into the market.There have been reports that big U.S. carrier Verizon is considering buying Wind Mobile — and possibly struggling Mobilicity — as a way to enter the Canadian market.Those opposed say Verizon, which has about 100 million customer in the U.S., would gain an upper-hand in Canada’s wireless market through existing rules that would give it an unfair advantage in the upcoming wireless spectrum auction.So far the federal government isn’t budging on the current rules, saying more competition will benefit Canadians. read more

Sentry Investments to pay 15M to settle charges of improper sales practices

Sentry Investments to pay $1.5M to settle charges of improper sales practices by The Canadian Press Posted Apr 5, 2017 3:48 pm MDT Last Updated Apr 5, 2017 at 4:40 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TORONTO – Sentry Investments says it will pay a penalty of $1.5 million to the Ontario Securities Commission to settle allegations that it engaged in improper sales practices by giving extravagant gifts to dealers selling its financial products between 2011 and last year.The Toronto investment firm says it has also agreed to pay OSC investigation costs of $150,000 and replace CEO Sean Driscoll — in January, it appointed president and chief operating officer Philip Yuzpe in Driscoll’s place.The commission says Sentry gave “excessive non-monetary benefits” to dealing representatives at a mutual fund conference at a Beverly Hills mansion in 2015 — including dinner, an open bar, Dom Perignon, jewelry and free golf, adding up to more than US$1,000 per guest.Sentry was also accused of providing gifts such as concert and sporting event tickets, including Montreal Grand Prix Formula One race tickets, as well as birthday, Christmas and baby gifts, to top sellers of Sentry products.In a news release, Yuzpe says Sentry accepts full responsibility and has hired a consulting firm to review and recommend improvements to policies, practices and internal controls.The OSC says Driscoll agreed to pay Sentry $100,000 in a reparation payment, is prohibited from acting as a mutual fund company director or officer for a number of years and must take a course on regulatory compliance.“We have learned from this experience and our company will be better for it,” said Yuzpe in Sentry’s statement. read more