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| {{Short description|Canadian financial analyst and critic}} | {{Short description|Canadian financial analyst and critic}} | ||
| '''Diane Urquhart''' is a Canadian independent ]<ref name=":0">{{Cite news|last=Friend|first=David|date=12 May 2015|title=Nortel bankruptcy: $7.3B in remaining assets to be split among subsidiaries|work=]|url=https://www.cbc.ca/news/business/nortel-bankruptcy-7-3b-in-remaining-assets-to-be-split-among-subsidiaries-1.3071789|access-date=16 January 2022}}</ref> and former senior securities industry executive.<ref name=":1">{{Cite web|title=Diane Urquhart - CV|url=http://ismymoneysafe.org/pdf/CVDianeUrquhart.pdf|url-status=live|access-date=16 January 2022|website=ismymoneysafe.org}}</ref> She is a major critic of the financial system in Canada. |
'''Diane Urquhart''' is a Canadian independent ]<ref name=":0">{{Cite news|last=Friend|first=David|date=12 May 2015|title=Nortel bankruptcy: $7.3B in remaining assets to be split among subsidiaries|work=]|url=https://www.cbc.ca/news/business/nortel-bankruptcy-7-3b-in-remaining-assets-to-be-split-among-subsidiaries-1.3071789|access-date=16 January 2022}}</ref> and former senior securities industry executive.<ref name=":1">{{Cite web|title=Diane Urquhart - CV|url=http://ismymoneysafe.org/pdf/CVDianeUrquhart.pdf|url-status=live|access-date=16 January 2022|website=ismymoneysafe.org}}</ref> She is a major critic of the financial system in Canada. | ||
| == Education == | == Education == | ||
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| She passed the Partners, Directors and Senior Officers and Registered Representative Examinations for the ], and the Section 16 Supervisory Analyst Examination for the ].<ref name=":1">{{Cite web|title=Diane Urquhart - CV|url=http://ismymoneysafe.org/pdf/CVDianeUrquhart.pdf|url-status=live|access-date=16 January 2022|website=ismymoneysafe.org}}</ref> | She passed the Partners, Directors and Senior Officers and Registered Representative Examinations for the ], and the Section 16 Supervisory Analyst Examination for the ].<ref name=":1">{{Cite web|title=Diane Urquhart - CV|url=http://ismymoneysafe.org/pdf/CVDianeUrquhart.pdf|url-status=live|access-date=16 January 2022|website=ismymoneysafe.org}}</ref> | ||
| == |
== Career == | ||
| In 2008, Urquhart advised the Canadian law firm Juroviesky and Ricci LLP in a case representing 1,800 retail investors that alleged they were defrauded, resulting in "significant financial hardship," by the non-bank ] (ABCP).<ref>{{Cite news|last=Olver|first=Lynne|last2=Mordan|first2=Nicole|date=26 March 2008|title=Some Canada retail ABCP investors hire law firm|language=en|work=]|url=https://www.reuters.com/article/canada-abcp-legal-idCAN2643773820080326|access-date=2022-01-16}}</ref><ref name=":2">{{Cite news|date=10 April 2008|title=ABCP investors say they were duped by financial community|work=]|url=https://www.cbc.ca/news/business/abcp-investors-say-they-were-duped-by-financial-community-1.756088|access-date=16 January 2022}}</ref> Urquhart appeared before the Parliamentary finance committee's hearings into Canada's frozen ABCP as one of six witnesses to address the committee where she appeared on behalf of the clients.<ref>{{Cite web|title=Justice Committee on Nov. 23rd, 2009 {{!}} openparliament.ca|url=https://openparliament.ca/committees/justice/40-2/49/diane-urquhart-1/|access-date=2022-01-16|website=openparliament.ca}}</ref><ref>{{Cite web|title=Evidence - FINA (40-2) - No. 21 - House of Commons of Canada|url=https://www.ourcommons.ca/DocumentViewer/en/40-2/FINA/meeting-21/evidence|access-date=2022-01-16|website=www.ourcommons.ca|language=en}}</ref> The witnesses said during their testimony that ABCP had assured the customers that their assets were safe in low-risk investments, but in actuality were in more volatile ] schemes in the ], resulting in enormous loss during the ]. She criticized the ] (OSC) saying, " have violated provincial securities acts and the Ontario Securities Commission has done nothing and stood by blindly."<ref name=":2">{{Cite news|date=10 April 2008|title=ABCP investors say they were duped by financial community|work=]|url=https://www.cbc.ca/news/business/abcp-investors-say-they-were-duped-by-financial-community-1.756088|access-date=16 January 2022}}</ref> She said that ABCP was responsible for a loss of $7–$13 billion in Canada held primarily by government, corporation pension funds and treasuries.{{Citation needed|date=January 2022}} Implicated are credit rating agency ] (DBRS), the ] (OSFI), and the OSC.{{Citation needed|date=January 2022}} | |||
| Urquhart appeared before the Parliamentary finance committee's hearings into Canada's frozen non-bank ] as one of six witnesses to address the committee where she appeared on behalf of a group of retail customers of non-bank ABCP.{{Citation needed|date=January 2022}} She says that asset-backed commercial paper is responsible for a loss of $7–$13 billion in Canada held primarily by government, corporation pension funds and treasuries.{{Citation needed|date=January 2022}} Implicated are credit rating agency ] (DBRS), the ] (OSFI), and the ].{{Citation needed|date=January 2022}} Urquhart also speaks out against some powerful institutions and people, such as ], ] and ].{{Citation needed|date=January 2022}} | |||
| Urquhart also speaks out against some powerful institutions and people, such as ], ] and ].{{Citation needed|date=January 2022}} | |||
| Urquhart helped former ] employees, including ] workers, ]s, and the ] in their battle to try and collect their ]s from the ] company.<ref name=":0">{{Cite news|last=Friend|first=David|date=12 May 2015|title=Nortel bankruptcy: $7.3B in remaining assets to be split among subsidiaries|work=]|url=https://www.cbc.ca/news/business/nortel-bankruptcy-7-3b-in-remaining-assets-to-be-split-among-subsidiaries-1.3071789|access-date=16 January 2022}}</ref> She also testified in 2010 before a parliamentary committee that $100 million is missing from the Nortel Health and Welfare Trust and that a $37 million loan to Nortel has not been paid back.{{Citation needed|date=January 2022}} | Urquhart helped former ] employees, including ] workers, ]s, and the ] in their battle to try and collect their ]s from the ] company.<ref name=":0">{{Cite news|last=Friend|first=David|date=12 May 2015|title=Nortel bankruptcy: $7.3B in remaining assets to be split among subsidiaries|work=]|url=https://www.cbc.ca/news/business/nortel-bankruptcy-7-3b-in-remaining-assets-to-be-split-among-subsidiaries-1.3071789|access-date=16 January 2022}}</ref> She also testified in 2010 before a parliamentary committee that $100 million is missing from the Nortel Health and Welfare Trust and that a $37 million loan to Nortel has not been paid back.{{Citation needed|date=January 2022}} | ||
| Urquhart is a member of the Small Investor Protection Association.<ref>{{Cite web|title=Evidence - FINA (40-2) - No. 18 - House of Commons of Canada|url=https://www.ourcommons.ca/DocumentViewer/en/40-2/FINA/meeting-18/evidence|access-date=2022-01-16|website=www.ourcommons.ca|language=en}}</ref> | |||
| ==Interviews== | |||
| * https://www.youtube.com/watch?v=FOqFcYfEXjk CTV Canada AM interview | |||
| == Personal life == | |||
| As of May 2008, Urquhart resided in ].<ref>{{Cite news|date=27 May 2008|title=City lowballing ABCP losses, says financial analyst|language=en|work=]|url=https://www.thespec.com/news/2008/05/27/city-lowballing-abcp-losses-says-financial-analyst.html|access-date=2022-01-16|issn=1189-9417}}</ref> | |||
| == References == | == References == | ||
Revision as of 19:55, 16 January 2022
Canadian financial analyst and criticDiane Urquhart is a Canadian independent financial analyst and former senior securities industry executive. She is a major critic of the financial system in Canada.
Education
Urquhart earned a Bachelor of Arts in Economics and Mathematics from McMaster University and a Master of Arts in Econometrics and Monetary economics from University of Toronto.
She passed the Partners, Directors and Senior Officers and Registered Representative Examinations for the Canadian Securities Institute, and the Section 16 Supervisory Analyst Examination for the New York Stock Exchange.
Career
In 2008, Urquhart advised the Canadian law firm Juroviesky and Ricci LLP in a case representing 1,800 retail investors that alleged they were defrauded, resulting in "significant financial hardship," by the non-bank asset-backed commercial paper (ABCP). Urquhart appeared before the Parliamentary finance committee's hearings into Canada's frozen ABCP as one of six witnesses to address the committee where she appeared on behalf of the clients. The witnesses said during their testimony that ABCP had assured the customers that their assets were safe in low-risk investments, but in actuality were in more volatile subprime lending schemes in the United States, resulting in enormous loss during the subprime crisis. She criticized the Ontario Securities Commission (OSC) saying, " have violated provincial securities acts and the Ontario Securities Commission has done nothing and stood by blindly." She said that ABCP was responsible for a loss of $7–$13 billion in Canada held primarily by government, corporation pension funds and treasuries. Implicated are credit rating agency Dominion Bond Rating Services (DBRS), the Federal Office of the Superintendent of Financial Institutions (OSFI), and the OSC.
Urquhart also speaks out against some powerful institutions and people, such as Ernst & Young, JP Morgan and Purdy Crawford.
Urquhart helped former Nortel employees, including laid off workers, pensioners, and the disabled in their battle to try and collect their benefits from the bankrupt company. She also testified in 2010 before a parliamentary committee that $100 million is missing from the Nortel Health and Welfare Trust and that a $37 million loan to Nortel has not been paid back.
Urquhart is a member of the Small Investor Protection Association.
Personal life
As of May 2008, Urquhart resided in Mississauga, Canada.
References
- ^ Friend, David (12 May 2015). "Nortel bankruptcy: $7.3B in remaining assets to be split among subsidiaries". CBC. Retrieved 16 January 2022.
- ^ "Diane Urquhart - CV" (PDF). ismymoneysafe.org. Retrieved 16 January 2022.
{{cite web}}: CS1 maint: url-status (link) - Olver, Lynne; Mordan, Nicole (26 March 2008). "Some Canada retail ABCP investors hire law firm". Reuters. Retrieved 2022-01-16.
- ^ "ABCP investors say they were duped by financial community". CBC. 10 April 2008. Retrieved 16 January 2022.
- "Justice Committee on Nov. 23rd, 2009 | openparliament.ca". openparliament.ca. Retrieved 2022-01-16.
- "Evidence - FINA (40-2) - No. 21 - House of Commons of Canada". www.ourcommons.ca. Retrieved 2022-01-16.
- "Evidence - FINA (40-2) - No. 18 - House of Commons of Canada". www.ourcommons.ca. Retrieved 2022-01-16.
- "City lowballing ABCP losses, says financial analyst". The Hamilton Spectator. 27 May 2008. ISSN 1189-9417. Retrieved 2022-01-16.
External links
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