Civil claims

Quebec Court Enforces Penal Provisions of Securities Act in connection with “Initial Coin Offering” of “PlexCoin”Update regarding the Good Faith and Best Interests Requirements of the Test for Leave to Commence Derivative ActionsBC Court of Appeal Clarifies the Good Faith and Best Interests Requirements of the Test for Leave to Commence Derivative Actions

Class actions

Foreign currency conversion fees charged by brokerage firms in the context of trades in securities listed on foreign exchanges are exempt from the application of the Consumer Protection ActMutual Fund Managers’ Liability for “Time Zone Arbitrage”: Fischer v. IG Investment, 2023 ONSC 915US Supreme Court clarifies standards for rebutting price impact in securities class actions

Cross border issues

UK Supreme Court overturns controversial decision on extraterritorial effect of Section 2 Notices | Financial services: Regulation tomorrowLathigee v British Columbia Securities Commission: You Can Run, But You May Not be Able to Hide from A Disgorgement Order By a Canadian Securities RegulatorCOVID-19 Scams on the Rise and Enforcement on the Horizon

Legislation, rules and policies

A moral obligation to self-disclose a corporate wrongdoing: what does it entail for solicitor-client privilege?Primer on Prospectus ExemptionsSignificant amendments coming to Ontario’s Class Proceedings Act, 1992

Limitation Periods

When you know, you know: Kaynes v BP p.l.c, 2021 ONCA 36 confirms how discoverability operates in fraudulent misrepresentation claims

Other developments

Increasing Enforcement: OSC and SEC Take Aim at Cryptocurrency PlatformsRegression Analysis Fails to Save the Day for the DefendantFrom Textual to Contextual: Court of Appeal Affirms the Scope of ‘Public Corrections’ in Statutory Secondary Market Misrepresentation Claims

Securities regulatory decisions

Invitation to jointly purchase a condo or rental property to generate a return through renting or selling it qualifies as distribution of an investment contract under the Quebec Securities ActFalse or Misleading Public Statements Made by Reporting Issuers in the Tech IndustryAcceleration of Regulatory Scrutiny Towards Crypto Assets Trading Platforms

Shareholder disputes

Delaware Supreme Court holds Delaware corporations can adopt federal-forum selection provisionsYukon Court of Appeal reinstates transaction price as fair value of sharesWhen is a Foreign Issuer a “Responsible Issuer” for the Purpose of Part XXIII.1 of the Ontario Securities Act?

Uncategorized

Carbon Credits Manipulation : An Increased Scrutiny Over Fraud in a Booming Industry Could Cross the Canadian BorderThe Supreme Court of Canada provides needed clarity on the discharge (or survival) of Securities Commission-imposed sanctions in personal bankruptcyIn-House Insider Trading

White collar crime

Passive Reliance on Fellow Director is Insufficient for Due Diligence DefenceCOVID-19 Scams on the Rise and Enforcement on the HorizonLandmark Changes to the BC Securities Act are Set to Take Effect March 27