Banking and Financial Services

A new approach to deference? Quadrexx and appeals from the Ontario Securities Commission

In a recent decision, Quadrexx Hedge Capital Management Ltd v Ontario Securities Commission (the “Quadrexx Appeal”), the Ontario...

OECD releases blueprint reports on international tax reform (Pillar One and Pillar Two) and launches public consultation

The OECD recently released blueprint reports on Pillar One and Pillar Two and launched a public consultation process on its two-pillar approach to...

Osler comments on Capital Markets Modernization Taskforce consultation report

On September 7, 2020, in a comprehensive letter to the Government of Ontario Capital Markets Modernization Taskforce (the Taskforce), we expressed...

Capital markets regulator embracing renewal in the shadow of “unprecedented change”

Canada’s largest provincial capital markets regulator, the Ontario Securities Commission (the “OSC”),  while offering needed...

Turning the Page? SNC Pleads Guilty to Fraud Relating to Libya Work; Former Executive Sentenced for Fraud, Corruption

On December 18, 2019 a division of SNC-Lavalin Group Inc. pleaded guilty to fraud  in relation to the company’s activities in Libya, to...

Ontario government releases fall economic statement: Modernizing financial services

On November 6, 2019, the Ontario government released its fall economic statement, 2019 Ontario Economic Outlook and Fiscal Review: A Plan to Build...

OBSI reports rise in investment industry complaints

The Ombudsman for Banking Services and Investments (OBSI) reported a surge in the number of investment-related complaints in the second quarter of...

OSC Burden Reduction Initiative – Focusing on ‘Principles’ for more responsive and effective regulation

The Ontario Securities Commission’s Burden Reduction Initiative emphasizes the centrality of a risk and principle-based focus to effective...

Five legal trends driving FinTech success

FinTechs require a sophisticated and thorough approach to the unique legal issues that are inherent when carrying out business in the financial...

Court highlights value of first-settling defendant co-operation in “ice breaker” settlements

In a recent decision from the Ontario Superior Court of Justice, Di Filippo and Caron v. Bank of Nova Scotia et al, 2019 ONSC 3282 (Di Filippo),...