Overview
In September 2025, the Ontario Capital Markets Tribunal (the Tribunal) approved the settlement between the Ontario Securities Commission (OSC) and Huy Le (Alvin) Huynh (Huynh) and his spouse Thi Anh Nguyet (Nancy) Pham (
In light of the unprecedented shift to a “working-from-home-economy” due to the pandemic, employees need to be extremely careful with work-related information that can accidentally be shared with their household. Confidential or even material non-public information can involuntarily be shared
The Second Circuit recently determined that the criminal securities fraud provisions that were enacted as part of the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley) have less onerous requirements for proving insider trading than under the general antifraud provisions of the Securities
As there is almost never direct, ‘smoking gun’ type evidence of insider trading, securities regulators often rely on circumstantial evidence in enforcement proceedings, from which they invite the specialized securities tribunals to draw inferences.
What is the line not to
In a decision issued on July 24, 2018, the Ontario Securities Commission held that the test to determine whether a respondent’s case should be severed and heard separately is the same test used in criminal proceedings.
The decision, Hutchinson (Re)
In a recent decision, AMF v. Beauchamp, Délisle J. of the Quebec Court, Criminal and Penal Chamber, refused to follow the request of the Quebec securities regulator, the Autorité des marchés financiers (AMF), that a prison
The Ontario Securities Commission’s recent decision in Re Hutchinson confirmed the important role of cooperation with Commission Staff in reducing sanctions for breaches of Ontario’s securities law.
Background
Donna Hutchinson worked as a legal assistant at a large Toronto law
In the recently released decision in Finkelstein v. Ontario Securities Commission, the Ontario Court of Appeal (the Court) considered for the first time the definition of “person in a special relationship with an issuer” found in s. 76(5)(e)
The Divisional Court recently upheld an Ontario Securities Commission (Commission) decision sanctioning a number of individuals for insider trading and tipping, and acting contrary to the public interest.[1]
This is the latest in a series of unsuccessful appeals from