It seems that the saga of the Ontario Securities Commission’s prosecution of Daniel Emerson Tiffin and Tiffin Financial Corporation is not over yet. On November 28, 2018 (2018 ONCA 953), the Ontario Court of Appeal granted leave to
family resemblance
Ontario Court Rejects “Family Resemblance” Test for Defining Securities under the Securities Act
By Michael Bookman on
On May 15, 2018, the Ontario Superior Court of Justice in Ontario Securities Commission v. Tiffin confirmed that the “family resemblance” test cannot be used to answer one of the central questions of securities law: what constitutes a security?
Background…