Canadian regulators to recoup millions of commissions paid to investment advisers by Portus

Date: Tuesday, October 18, 2005
Author: Globeinvestor.com

Stock market regulators are set to go after millions of dollars in commission fees paid to investment advisers by Portus Alternative Asset Management Inc. as part of the investigation into the notorious hedge fund. About 1,000 advisers steered some 26,000 clients to Portus in exchange for 5-per-cent referral fees before the hedge fund operator was shut down and forced into receivership last March.