Risk Management and Crisis Response

DOJ’s Major Insider Trading Victory: a Blueprint for post-Newman Convictions?

Improper disclosure of confidential information and insider trading remains very much a focal point for regulators and prosecutors on both sides of...

SEC Enters into Two Non-Prosecution Agreements for Alleged FCPA Violations

In June 2016 the US Securities and Exchange Commission (SEC) announced that it had entered into two non-prosecution agreements (NPAs) with two...

SEC Continues to Penalize Companies which Restrict Whistleblowing or Seek Waiver of Payment of Whistleblower Incentive Payments

As whistleblower initiatives build steam in Canada, the United States and throughout the world, executives, and board members face evolving...

U.K. Serious Frauds Office Enters into Second Deferred Prosecution Agreement to Resolve Corruption and Bribery Charges

The U.K. Serious Frauds Office (the SFO) on July 8, 2016 obtained its second deferred prosecution agreement (DPA). The Southwark (London) Crown Court...

A Review of New Whistleblower Protections Under Ontario’s Securities Act

In connection with the establishment of the Ontario Securities Commission’s new Whistleblower Program in July 2016, which includes monetary...

Three Scotia Dealers Reach No-Contest Settlement with OSC

On July 29, 2016, the Ontario Securities Commission approved a no-contest settlement agreement with three Bank of Nova Scotia dealers in connection...

Initial Board of Directors and New Implementation Timelines Announced for Canada’s Securities Regulatory Regime

In an important step towards implementing Canada’s Cooperative Capital Markets Regime, the participating jurisdictions have made the long awaited...

The Long-Awaited OSC Whistleblower Program Is Now In Force

On July 14, 2016, the Ontario Securities Commission (the “OSC”) broke ground in Canada when it officially launched its widely anticipated Office...

Legal and industry opposition to U.S. Fiduciary Rule may be a harbinger of developments in Canada with proposed introduction of best interest standard

On June 1, 2016, the U.S. Chamber of Commerce, the Securities Industry and Financial Markets Association (SIFMA) and six other industry and trade...

Questions Raised Over the Constitutionality of SEC Administrative Proceedings

As noted in previous articles, Canada and the US have different approaches to regulatory enforcement. Canadian securities regulators overwhelmingly...