Un survol de la dernière année montre que la Commission des valeurs mobilières de l’Ontario (la « CVMO ») a augmenté de façon marquée son recours aux procédures judiciaires quasi criminelles. Ceci indique la volonté nouvelle...more
A survey of the past year shows that the Ontario Securities Commission (OSC) has markedly increased its focus on quasi-criminal court proceedings, indicating a new willingness by the regulator to aggressively prosecute...more
Des amendes totalisant plus de 1 G$ US infligées récemment aux États-Unis dans le cadre d’une série de règlements liés à des manquements aux exigences relatives à la tenue de documents rappellent aux maisons de courtage...more
A series of recent settlements in the United States relating to record-keeping violations, with fines totalling over US$1-billion, offer a reminder to Canadian securities firms of the importance of supervising the forms of...more
The Court of Appeal for Ontario (Court) has reinforced certain interpretive rules governing follow-form excess insurance policies, including the requirement that any exclusions from the coverage terms of the primary policy...more
Dans une série de procédures administratives récentes de la Commission des valeurs mobilières de l’Ontario (la « CVMO »), le personnel de la Mise en application de la CVMO (le « personnel ») a cherché à présenter des...more
In a series of recent Ontario Securities Commission (OSC) administrative proceedings, enforcement staff of the OSC (Staff) have sought to present the allegations against respondents in a manner that would, if accepted,...more
The Investment Industry Regulatory Organization of Canada (IIROC) recently released its Annual Enforcement Report (Report), which highlights IIROC’s efforts to increase its rate of collection on monetary fines, including...more
As part of its 2018 budget (Budget), the Ontario government announced that it plans to propose new tools to enhance and expand the securities enforcement activities of the Ontario Securities Commission (OSC), including in...more
The Investment Industry Regulatory Organization of Canada (IIROC) is engaged in a three-year strategic plan to expand its portfolio of enforcement options. As part of this initiative, IIROC has proposed two potential new...more
The Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA) have each released statements of priorities for 2018.
Taken together, and in conjunction with...more
The Ontario Securities Commission (OSC) adopted OSC Policy 15-601 – Whistleblower Program (Policy), creating its Whistleblower Program (Program) in July 2016. The Program is intended to encourage whistleblowers to report...more
On December 2, 2016, the Ontario Court of Appeal (Court) provided new guidance on the principles of contractual interpretation in the wake of the Supreme Court of Canada’s 2014 decision in Sattva Capital Corp. v. Creston Moly...more
In its decision in Guindon v. Canada (Guindon), released earlier this month, the Supreme Court of Canada (SCC) considered the constitutionality of an administrative monetary penalty, or “AMP” provision. The SCC’s decision,...more
The Ontario government has amended Ontario’s Securities Act (Act) to expand the scope of prohibited insider trading and enhance the record-keeping requirements imposed upon capital market participants in the province. This...more
The Ontario government has amended Ontario’s Securities Act (Act) to expand the scope of prohibited insider trading and enhance the record-keeping requirements imposed upon capital market participants in the province. This...more
In a settlement agreement recently endorsed by the Ontario Securities Commission (OSC), respondent Anand Hariharan agreed to settle insider trading allegations made by OSC enforcement staff (Staff) against him. The settlement...more