TORONTO, Nov. 14, 2011 /CNW/ - RBC Dominion Securities has agreed to the
transfer of client accounts from MF Global Canada Inc., whose parent
company, MF Global Holdings Ltd. filed for Chapter 11 bankruptcy on
October 31, 2011.
Today, the Ontario Superior Court of Justice approved the transfer of
certain MF Global Canada client accounts to RBC Dominion Securities.
Holdings in the accounts to be transferred include futures, equity and
fixed income positions. This transfer will enable these account holders
to access their accounts.
KPMG, the Court-appointed trustee in bankruptcy, and the Canadian
Investor Protection Fund (CIPF) approached RBC Dominion Securities
after the bankruptcy filing to request accommodating a bulk transfer of
accounts and positions. RBC was approached given its strong balance
sheet and commitment to the futures business.
"We have been working diligently with KPMG to secure the required
approvals and resolve the matter for MF Global Canada clients," said
David Agnew, Head, RBC Wealth Management Canada. "We realize that the
past two weeks have been very stressful for MF Global Canada clients.
RBC Dominion Securities is happy to be in a position to assist."
On Tuesday November 15, RBC Dominion Securities will begin proactively
contacting clients of MF Global Canada and working with them to
expedite access to their accounts.
RBC Dominion Securities has a robust infrastructure that can accommodate
trading and hedging solutions across major markets for futures, options
and commodities, including its own clearing capability for futures and
options trading. This is in addition to disciplined investment
management expertise in equities, fixed income and foreign exchange, as
well as a comprehensive range of estate and wealth planning solutions.
Further information about the bankruptcy of MF Global Canada is
available on the KPMG website (www.kpmg.ca/mfglobalcanada), by e-mail (email@example.com), or by phone (416 777 3666 or toll-free at 1 866 602 6743).
About RBC Dominion Securities
With over 400,000 clients across Canada and worldwide, and $180 billion
in assets under administration, RBC Dominion Securities is Canada's
leading full-service investment and wealth management firm for affluent
and high net worth investors. While investment management is the core
offering, our 1,500 investment advisors and portfolio managers also
provide a full range of wealth management advice and solutions, such as
insurance, retirement, estate and tax planning and charitable giving to
help our clients preserve, grow and pass on their wealth. www.rbcds.com
SOURCE RBC Royal Bank
For further information:
Bev MacLean, Corporate Communications, RBC, 416-974-9334