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Cease Trade and Freezing Orders to Stop a Pump and Dump Scheme Autorité des marchés financiers c. Kamaneh, 2022 QCTMF 18

Photo of Sophie Melchers
By Sophie Melchers on June 14, 2022

The facts of this case are simple.

The Quebec securities regulator, the Autorité des marchés financiers (AMF), alleged that between March 2021 and January 2022, Ramy Kamaneh and Mohamed Kada Mesli :

  • participated in a market manipulation /

…

Application of Section 4.3 of the SPPA in Matters Before OSC Hearing Panels

By NRF Digital Team on May 31, 2022

In Canada Cannabis Corporation (Re), 2022 ONSEC 9 the Ontario Securities Commission (OSC) was called upon to decide whether section 4.3 of the Statutory Powers Procedure Act (SPPA) operated to extend the term of office…

Kennedy v. Akumin Inc. et al, 2022 ONSC 2571: The New Framework for Carriage Fights in Ontario

Photo of David Seevaratnam
By David Seevaratnam on May 17, 2022

The decision of Kennedy v Akumin Inc. et al, 2022 ONSC 2571 resolves a carriage motion pursuant to section 13.1 of the amended Ontario Class Proceedings Act, 1992 (CPA), involving competing class actions (the “Kennedy action” and the “Longair action”)…

Solar Income Fund Inc. (Re), 2022 ONSEC 2:  Determining when a “Trading and Advising Relationship” Exists

Photo of Stephen Taylor
By Stephen Taylor on May 16, 2022

In Solar Income Fund Inc. (Re), 2022 ONSEC 2 (the Solar Decision)[1] an OSC Hearing Panel considered, among other things, section 44(2) of Ontario’s Securities Act (the Act),[2] which prohibits false or misleading representations that a…

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A Cautionary Tale: A Flawed Cease Trade Order is not an Excuse to Continue Trading

By NRF Digital Team on April 5, 2022

In Alberta Securities Commission v Felgate, 2022 ABCA 107 (Felgate), the Alberta Court of Appeal upheld the conviction of an individual for trading in securities while subject to a cease trade order, notwithstanding though the order was…

A broker’s good faith margin call and the consequences of failing to cover margin

Photo of Sophie Melchers
By Sophie Melchers on April 5, 2022

On February 2, 2022, the Quebec Court of Appeal confirmed in part Mr. Justice Thomas M. Davis’s trial decision in KPH 11 c. Richardson Wealth Limited (Richardson GMP Limited), 2022 QCCA 148 condemning two clients of a securities broker…

Proof of a Guilty Mind is Required to be Convicted for Aiding a Person to Commit an Offence under the Quebec Securities Act

Photo of Mihnea BantoiuPhoto of Joelle Briand-Diguer
By Mihnea Bantoiu & Joelle Briand-Diguer on March 4, 2022

At-a-glance

In Heller c. Autorité des marchés financiers, 2022 QCCA 208, the Court of Appeal of Quebec (Court of Appeal) considered whether the offence under section 208 of the Quebec Securities Act (QSA)[1]…

The Fine Line Between a Material Change and a Material Fact

By Admin on February 24, 2022

Earlier this year, the Ontario Superior Court of Justice (ONSC) in Markowich v. Lundin Mining Corporation, 2022 ONSC 81 (Markowich) denied leave to commence a secondary market securities class action under Part XXIII.1 of Ontario’s…

Consequences from Coin Offerings: Ontario Securities Commission Affirms Cryptocurrency’s Status under Canadian Securities Laws

Photo of Stephen Taylor
By Stephen Taylor on February 3, 2022

On December 22, 2021, the Ontario Securities Commission (the OSC) recently released the decision of Miner Edge Inc.(Re), 2021 ONSEC 31 (the Miner Edge Decision).[1]  Although CSA has published guidance on the application of securities laws…

Alberta Court of Appeal Overturns Finding that Administrative Penalty Survives Bankruptcy

Photo of Aaron StephensonPhoto of Preston Brasch
By Aaron Stephenson & Preston Brasch on January 13, 2022

We earlier blogged here about Alberta Securities Commission v Hennig (Hennig QB) in which a chambers judge held that an administrative penalty levied by the Alberta Securities Commission (ASC) survived an individual’s discharge from personal bankruptcy…

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In this blog, litigators from Norton Rose Fulbright offices in both Canada and the United States comment upon domestic developments in securities litigation in both countries and cross border issues. Among other things, we deliver insights on recent securities law decisions, amendments to securities statutes and regulations, securities class actions and cross border developments. We have broad experience and international expertise in these matters and are frequently called upon for advice in high-profile securities litigation, enforcement proceedings and internal investigations. Stay connected with Securities litigation and enforcement and subscribe to the blog today.

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