Capital Markets Regulatory Enforcement Capital Markets Regulatory Enforcement

Canadian and U.S. regulatory developments are reshaping market oversight

Navigating North American and global trends and policy directions.

Ontario Capital Markets Tribunal sanctions TeknoScan Systems Inc. and three of its executives for misleading disclosure

A recent Capital Markets Tribunal decision imposed significant consequences after finding fraud based on disclosure omissions.

Understanding the CSA’s OBSI reform proposal

The Canadian Securities Administrators released a new proposed framework for an independent dispute resolution service with binding authority.

Expanded enforcement powers: is CIRO now exercising ‘statutory’ powers?

Recent statutory amendments have expanded the Canadian Investment Regulatory Organization’s (CIRO) enforcement toolkit.

OSC adopts new framework to distribute funds from disgorgement orders to harmed investors

We review the new regime and its potential implications for both investors and the regulator.

Privilege protocols as a legal imperative: implications of Lamarche v. British Columbia (Securities Commission) for regulators

The B.C. Court of Appeal in Lamarche stresses the vital need for regulators to protect privileged documents during investigations.

Recent developments in the U.S. SEC’s proceedings against major crypto players signals pro-industry policy shift

The U.S. SEC has moved quickly to shift its stance towards the crypto industry under President Trump’s administration.

Evolving legal and political landscape creates uncertainty about securities regulation of crypto-related activity

We recap some recent cases from both sides of the border, with an eye to where enforcement activity may go from here.

Regulation by enforcement: who pays the price?

Who should bear the costs of Ontario Securities Commission enforcement proceedings is emerging as an important issue.

Two years of CIRO: enforcement, harmonization and what’s next

The Canadian Investment Regulatory Organization’s core priorities will be enforcement and regulatory harmonization.