BNN - Monday, May 27, 2024 - 09:00 a.m. (ET) - Segment #8

actually guests last week to suggesting that a strategy that sometimes works not to suggest the banks are all working on different things, but that as a group. >> There are enough come parables that if you buy the the cheapest banks for the banks that are underperforming the most, that can potentially give you the most upside. That's one strategy idea what goes into your ultimate decision on on which banks by over other banks. So we've seen sometimes that strategy works like france and scotia's harm better this year because well, it was a laggard last year. And at some point td will outperform that, you know, I still think you want to wait to see how much bad and when the bad news is printed and it stop going down is probably good time to buy td. So I think what you gotta do is, you know, kind of makes a very back so you know, we're at the point in time that you have it, that we're seeing that the banks actually have quick differentiation performance there, couple years. It. The there wasn't much difference between the best and the worst from the bank, but that was starting to see that going for it. So for instance, you know, going forward, we can see royal will probably outperform because we'll have some synergies with they just b.c.. And we'll get more on that developing story with td after the break. Stay with us. Gold is soaring and copper demand is at all time highs. American Pacific Mining is seizing the moment by partnering with world class miners to unlock America's next big copper gold strike, fully funded with a $14 million exploration blitz this summer and nominated for multiple industry awards, including six by s&p global. American Pacific Mining fueling America's mission for homegrown metals. Now this is where I want to retire. -Retiring already? -Getting there. The way I was investing before was outdated, paying them over 2% every year in mutual fund fees. Over time - that could've cost me hundreds of thousands of dollars. -Really? -With Questrade I can do it for a fraction of the cost, keeping most of that to fund my retirement. Not someone else's. Exactly. So, it's a financial approach that just flows together. Kinda like this: Investments in the front... Insurance in the back. We do both. [phone ringing] ( ) Canada has one of the best backyards in the world. Don't let allergies prevent you from breathing it all in. (Sneeze, birds squawking) Get relief fast. Reactine acts fast to relieve allergy symptoms and lasts 24 hours. (vo) Sail through the heart of historic cities and unforgettable scenery with Viking. Unpack once, and get closer to iconic landmarks, local life, and cultural treasures. Because when you experience Europe on a Viking Longship, You'll spend less time gettingthere and more time being there. Viking. Exploring the World in Comfort. Crave, The most talked about... Sounds intense. ... most anticipated shows... You step out of line even once. ... All right here. Subscribe now atCRAVE.CA. (Upbeat electronic music) the ongoing investigations and actions against td in the U.S. related to laundering of funds tied to the illegal drug trade have turned the spotlight on canada's lack of equally aggressive action. >> Canada's anti money laundering and terrorist financing regulations. >> Need overhaul. According to a former special adviser to fintrac canada's supervising agency, which monitors those crimes. >> The is president of. Consulting and he joins us thanks very much for your time this morning. First of all, how would you characterize the enforcement make up here in canada? Well, you have to consider the regulations that we have in the united nation that covers anti-money laundering in canada. >> Hasn't been reviewed in terms of the or offences for either 15 or 20 years, depending on whether administrative monetary penalties or fences. So I with the upcoming parliamentary review of the the at

anti-money laundering, a act, I think it's time parliament government take a look at upgrading those I would also add that should track is limited what he can do by legislation in terms of fines really dependent eases what went wrong and may's basically those counties are set to encourage compliance. So what I think is missing is the next portion is, very significant penalties or fines as you wish and gross negligence penalties basically are there niche when there is a significant deficiency or violation of the act. And I think that's where the next step should be in terms of enforcement, in terms of compliance regulatory framework. And how important is just an update on the penalties simply when you've got canadian banks that have large operations in the U.S. and you have. >> Enforcement teams there that are ready to impose large penalties. >> Well, of what's happened in the U.S. is very different than what's happening in canada, based on what I understand you're looking in the u.s., you're looking at people signed a deal t for money laundering as well as of s'illot hating through the bank over 600 million over period of 4 years. So that's very significant. Whereas when you compare what happened to canada in canada and certainly not just he, but rbc cibc, mention of last to 2 years is these violations of the act, which one most cases will all see the fact that failure to send a suspicious transaction reports, but there is no connection to the bank. Systematically being involved in a money laundering, so that that's a big difference can vary. Now 1000 orange between bill and of course in track isn't a concern. Doesn't have the responsibility see what's going on U.S. banking system. What about the in canada? Some of the biggest threats that you see just based on the way we enforce right >> But the won there was there was a and inherent risk assessment well, and at a risk assessment basically identified financial institutions and money services. Businesses as being and at the very high level, if you wish inherent risk level. So it's incumbent upon those reporting entities to implement mitigating measures that will reduce risk. And in terms of the way we enforce it, I would suggest there be a approach in terms of enforcement and a high risk. You are there the higher penalties are the remy supervisor should take as well something that would be identified if you're really egregious. And he's become saying in offence, potentially investigated by police for criminal purposes. Then it's the higher risks you are as a as an the the county is sort of these consequences either in the criminal code are in mountie in fantasy at the comes anti-money laundering. Everything has to be balanced risk. So the higher the risk, the higher the penalty. >> And in other higher compliance realities. Ahead, do you think for canadian banks? >> Actually what's happening both in the U.S. and especially in canada with respect to financial institutions as well reporting entities that fintrac has taken a a much stricter approach over the last couple of years, like rashly for doing that I think is a wake-up call all sectors the supervisor fintrac it is is basically taking off the gloves. I admit that I think penalty should be higher in all cases given a new framework and I think should be revised by government. I think that is going to send a good message of ensuring a higher level of scrutiny all financial institutions are reporting inities in terms of there ain't regimes. You have

I have to say no, that with the banks with financial. Institutions, they have been cooperating over the last 20 years and providing a lot of financial intelligence to fintrac. So there's that side that you have to recognize that they have invested a lot of money over time protect the financial system. But at the same time, they always have to adapt to the new threats that are coming forward, whether it's crypto you know, changes june all political money from russia or china or whatever, those are the kinds of things that they really need be, I'm aware of continuing so means more money to invest in their systems. We all know the consequences if you're not keeping. And today we have stepped protecting here, banning from being induced money the thanks very much for your time today. Time for a quick break. When we come back, we'll talk about some dividend names that are continuing to stand out in today's edition of the list. Located within Ontario's prolific Kenora mining district, Tartisan Nickel Corp's, Canada's next high grade critical minerals producer. The Kenbridge Nickel Project has an initialnine year mine life and 2024 drilling toexpand the resources. Tartisan Nickel Corp. An exceptional investment opportunity. So, it's a financial approach that just flows together. Kinda like this: Investments in the front... Insurance in the back. We do both. [phone ringing] ( ) As the host of theSmart World PodcastI have the chance of speakingwith some interesting, successful people. I'm grateful to have theopportunity to share their amazing stories. Join me, Thane Stenner,every month on Smart Wealth availableon iHeart. Business man 1: I'd rather take the profits now than risk loosing it all. Business man 3: China's slowing down. [All four speak at once, the noise grows to a fever pitch] kim: There's headlines saying this, contradictory headlines saying that. What's notable and what's noise? Annce: cut through the clutter. Money Talk, with Kim Parlee, Wednesdays at 7 eastern 4 pacific. Brought to you by td Wealth. ( ) You're just too good to be true Can't take my eyes Off of you ( ) Michelob Ultra. ( ) ( ) The infiniti qx60 exemplifies modern luxury. With powerful suv performance, three rows of comfort, and a sleek-yet-daring design. ( ) Lease a 2024 qx60 from 0.99% apr for up to 24 months. Visit INFINITI.ca. ( ) Harvest Equal Weight Global Utilities Enhanced Income etf. The world's top utility companies in one etf, global Utilities and steady monthly income. Harvest ETFs, income happens here. Time for today's edition of list, where we use bloomberg data to give you exclusive investing insights. We recently had a conversation with strategist ed clissold of ned davis research. >> Who noted that in the investing world, we've seen a transition from tina. Quote, there is no alternative to equities instead to the reality that there are some reasonable alternatives. To illustrate that noted the percentage of stocks in the s&p 500 with dividend yields above the 10 year treasury yield. Have declined from record high north of 70% in march of 2022 just 9%. As of the end of april. So for income seeking investors, the bond market now represents a more the reasonable alternative. So we wanted to take a look at the kinds of dividend friendly stocks that are staying competitive with treasuries for investor attention. We look to both s&p 500 and tsx stocks, that's 4 dividend yield north of the 10 year treasury yield, which is currently around 4 and a half percent. There's about 100 companies on that list, but of course, with dividend yields, the higher they go, sometimes the more risk stock and raise about whether the company will be able to maintain its dividend. So we had another cab yet, which is that the dividend payout ratio had to be below 50% dividend payout ratios measure how much of a company's income is being paid out in the form of dividends. In a general rule of thumb is that ratios below 50% are more manageable for a company that netted us a list of a dozen

Copyright protected and owned by broadcaster. Your licence is limited to private, internal, non-commercial use. All reproduction, broadcast, transmission or other use of this work is strictly prohibited.

Transcripts