Tag archives: Quebec Securities Act

From boom to busted: TMF deems PlexCoins as investment contracts

By Saam Pousht-Mashhad on October 16, 2018 Posted in Other developments, Securities regulatory decisions

The legal noose is tightening around the necks of rogue cryptocurrency issuers in Quebec. PlexCorps’s legal troubles, as covered in our previous post, have deepened. In Autorité des marchés financiers c. PlexCorps, 2018 QCTMF 91, the Tribunal des Marchés Financier (TMF) qualified PlexCoin as an investment contract within the meaning of Quebec’s Securities Act. This … Continue reading

Quebec Court of Appeal clarifies the essential elements of the offences of market manipulation and complicity under the Quebec Securities Act

By Sophie Melchers on September 10, 2018 Posted in Other developments, Securities regulatory decisions

On September 5, 2018, the Quebec Court of Appeal rendered a unanimous judgment in Autorité des marchés financiers c. Forget, 2018 QCCA 1419 (Forget) clarifying the essential elements of the mens rea offence of market manipulation set out at section 195.2 of the Quebec Securities Act (QSA): 195.2. Influencing or attempting to influence the market … Continue reading

No Early Disclosure: Quebec Court of Appeal Confirms Protection for Public Issuer

By Michael Bookman on March 2, 2018 Posted in Other developments

Plaintiff-shareholders in Quebec are not entitled to early document disclosure when seeking leave to bring claims against public issuers for secondary market liability. The Quebec Court of Appeal’s decision in Amaya[1] confirms that the “screening mechanism” under the Quebec Securities Act[2] to root out frivolous claims by plaintiff-shareholders is analogous to the statutory remedies available … Continue reading

Investment advisors’ legal duties fall under the spotlight

By Jeremy Devereux on July 21, 2017 Posted in Civil claims, Legislation, rules and policies

In a decision released July 6, 2017- Shinoff v BMO Nesbitt Burns Inc et al.– Justice France Dulude of the Québec Superior Court provided helpful guidance on the duties owed by investment advisors to their clients. The plaintiff claimed that the defendants had failed to provide investment advice that was appropriate for his financial objectives. … Continue reading