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Bank towers are shown from Bay Street in Toronto's financial district, on Wednesday, June 16, 2010. Canada's largest city is getting itself a new resident this year: the headquarters of the federal government's new infrastructure financing agency. THE CANADIAN PRESS/Adrien VeczanThe Canadian Press

Canada's banking regulator is reviewing sales practices at the country's six largest banks, focusing on the risks such tactics could pose to banks' reputations and financial health. Story (James Bradshaw, for subscribers)

This is the daily Streetwise newsletter, with stories chosen by Globe and Mail financial services editor Rita Trichur. If you're reading this online or someone forwarded this e-mail newsletter to you, you can sign up for the Streetwise newsletter and all Globe newsletters here.

When Bruce Croxon launched a venture capital firm in 2012 named after a renowned boxing match, the entrepreneur and TV star had no idea how much of a fight lay ahead. "I thought it would be a lot easier than it turned out to be" to raise a $100-million venture capital (VC) fund, Mr. Croxon said of his Toronto-based Round 13 Capital. Story (Sean Silcoff, for subscribers)

Most of Canada's major banks saw a dip in trading revenues in the second quarter. However, that same low volatility creates a favourable environment for public companies which can come to market with large stock issues, says RBC head of equity Kirby Gavelin. Story (Niall McGee, for subscribers)

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DEALS AND FINANCINGS

Apple Inc. has tapped the maple bond market for the first time, raising $2.5-billion, the single biggest offering ever for this unique corner of the debt market. Story (Niall McGee)

Global real estate giant Cushman & Wakefield Inc. has nearly doubled the size of its Canadian work force with the acquisition of real estate management firm 20 VIC Management Inc. Story (Mark Rendell, for subscribers)

Transocean, one of the world's biggest drilling rig operators, has agreed a deal to buy Norwegian competitor Songa Offshore for 9.1-billion Norwegian kroner ($1.1-billion U.S.), the two companies said on Tuesday. Story

ELSEWHERE IN FINANCIAL SERVICES

Britain's Royal Bank of Scotland plans to cut about 900 technology jobs at its London office by 2020, in its latest plan to reduce costs. Story

ON THE MOVE

BlackRock Canada's head of sales is set to leave at month-end. Elisabeth Prefontaine, head of wealth sales, says she will be leaving the company as of Aug. 21 due to "a change in the Canadian operation's business model." Story (Clare O'Hara, for subscribers)

Wells Fargo & Co Vice Chair Betsy Duke will replace retiring Chairman Stephen Sanger next year, one of several changes announced on Tuesday in response to shareholder displeasure over the bank's sales practices scandal. Story (Reuters)

WHAT WE'RE READING

The Next Quant – Fund managers who survived the quant bloodbath of August, 2007 say the strategy is safety 10 years later. But with its popularity soaring to new heights, some wonder whether crowded trades – and rising leverage – will lead to another downfall. Story (Institutional Investor)

FROM THE ANALYSTS

CIBC World Markets Inc. analyst Marco Giurleo was pleased with Fiera Capital Corp.'s second quarter results and its sounds as if a couple more transactions are on the horizon.

"Where else can one find an asset manager with double-digit organic [assets under management] growth, record net sales, strong fund performance, a budding alternative platform and a base management fee margin that is consistently expanding?" he wrote in a research note.

"Management highlighted on the call that it is in the last phases of negotiations with three of the 16 targets in its pipeline and is hopeful to complete two before year-end. Additionally, management alluded to a potentially transformational $125-billion AUM acquisition that it is in early phase negotiations.

"If completed, it would essentially double the size of the firm. Given management's strong track record for making accretive acquisitions, we expect upcoming acquisitions to serve as a catalyst for the shares."

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