In October 2017, the Alberta Securities Commission (ASC) released ASC Policy 15-601: Credit for Exemplary Cooperation in Enforcement Matters. According to the ASC, Policy 15-601:
… provides clarity and transparency regarding the circumstances under which ASC
The SEC recently extracted a settlement from a hedge fund that raises difficult compliance-related questions for investment advisers. On August 21, 2017, Deerfield Management Company L.P. (“Deerfield”), a hedge fund and registered investment adviser, paid approximately $4.6 million to settle
In one of the first decisions in Canada applying the Supreme Court of Canada’s new Jordan framework for the measurement of unconstitutional Crown delay to prosecutions for breach of securities law, the Superior Court of Quebec has upheld a stay
Perhaps in tongue and cheek, perhaps not, Perell J. begins his decision in Berg v. Canadian Hockey League, 2017 ONSC 5382, by quoting Winston Churchill’s famous World War II speech :
We shall defend our island, whatever the
Public companies can face significant securities litigation risk over defective algorithms, data errors and software glitches. As securities class action filings continue to increase across the board, plaintiffs lawyers have attacked numerous companies over stock price declines that occur after
Securities regulatory authorities for all Canadian jurisdictions, save for British Columbia, (the Participating Authorities) announced the implementation of Multilateral Instrument (the Instrument) and Companion Policy 91-102 on the Prohibition of Binary Options on September 28, 2017.
Binary options
The recent decision of the Ontario Court of Appeal in Rahimi v. SouthGobi Resources Ltd., 2017 ONCA 719 provides further guidance concerning the role of the judge on a motion for leave to commence a secondary market class action pursuant
A great deal has been written recently about the possible regulatory uncertainty surrounding Initial Coin Offerings (ICOs) in Canada. In an ICO, a newly issued cryptocurrency is sold to purchasers, who acquire a right of ownership symbolized by
In Strictrade Marketing Inc. et al., 2017 ONSEC 12, the Ontario Securities Commission (the Commission) delivered robust sanctions to Respondents found to have marketed and sold licenses for trading software in breach of the Ontario Securities Act (the
For nearly 90 years, many have called for the creation of a single national regulator that would oversee Canada’s capital markets. Invariably, those attempts have been squelched by constitutional concerns as various provinces and territories have refused to cede jurisdiction