Risk Management and Crisis Response Blog

Procedural fairness: Ontario Court of Appeal shows deference to the OSC

In an enforcement proceeding before the Ontario Securities Commission, must the same commissioners who preside over the merits hearing be the ones to...

IIROC’s 2016 enforcement report: Increased activity against individuals

The Investment Industry Regulatory Organization of Canada (“IIROC”) recently published its 2016 Enforcement Report (the...

OSC publishes draft Rules and Practice Guideline for comments

On April 20, 2017, the Ontario Securities Commission (the “OSC”) published draft Rules of Procedure and Forms and a proposed Practice...

New IOSCO Standard Likely to Yield Increased International Enforcement Cooperation and Integration

It is trite to say that capital markets know no borders. Increasingly, this reality is prompting capital markets regulators and enforcers around the...

CASL’s soon-to-be-enacted private right of action brings risk of class proceedings

On July 1, 2017, the private right of action under Canada’s Anti-Spam Legislation (CASL) will come into force. Largely enacted in January 2014,...

OSC Fines Mutual Fund Manager $1.5 Million in Relation to Prohibited Payments and Gifts Violations

The Ontario Securities Commission has ordered Sentry Investments Inc. (“Sentry”) to pay a $1.5 million administrative penalty for...

DOJ announces extension for its FCPA cooperation pilot program

White collar law enforcers and regulators rely heavily on tips and voluntary reporting to enhance their enforcement capabilities. As discussed...

Canada’s 2017 Budget – Regulatory implications for Canada’s financial sector

Canada’s Finance Minister Bill Morneau delivered the government’s 2017 federal budget on March 22, 2017.  For financial institutions...

CSA Releases Annual Enforcement Report

On February 27, 2017, the Canadian Securities Administrators (“CSA”), the umbrella organization of the Canadian provincial capital...

Wal-Mart secures dismissal of New York shareholder lawsuit

Wal-Mart Stores Inc. scored a legal victory on February 27, 2017 by securing the dismissal of one of a series of lawsuits arising from bribery...