Banking and Financial Services Banking and Financial Services

U.S. regulators coordinate enforcement of violations involving the FCPA

While many in Canada lament the ‘fragmented’ financial regulatory environment that is a hallmark of  its constitutional division of...

OSFI outlines technology and cyber security incident reporting expectations

The Office of the Superintendent of Financial Institutions Canada (OSFI) recently issued the Technology and Cyber Security Incident Reporting...

Wells Fargo officials reach $240 million settlement over unauthorized accounts

On February 28, 2019, a $240 million (U.S. dollar) settlement reached between Wells Fargo executives and directors and the bank’s U.S....

CSA and IIROC propose regulatory framework for cryptoasset trading platforms

On March 14, 2019, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) published a...

Ontario Securities Commission announces first ever whistleblower awards

In a landmark announcement on February 27, 2019, the Ontario Securities Commission said that it had paid out its first-ever whistleblower awards...

OSC seeks to reduce regulatory burden in step with Ontario Red Tape Initiative

The Ontario Securities Commission announced on January 14, 2019 that its Burden Reduction Task Force, in coordination with the Ministry of Finance,...

Mixed results in British Columbia white collar enforcement proceedings

Two high-profile cases in late 2018 demonstrate both the potentially grave consequences of securities law violations and the difficulties prosecutors...

Second Circuit upholds insider trading conviction in Gupta v. United States

In a summary order released on January 7, the Second Circuit Court of Appeals in Gupta v. United States upheld the insider trading conviction of...

OSC approves $30 million settlement with Katanga over financial misstatements and failure to disclose DRC risks

Reflecting the trend toward increasing monetary penalties, the Ontario Securities Commission (the “OSC”) accepted an eye-popping $30...

Recent initial coin offerings settlements show broadening SEC enforcement campaign

A series of recently announced settlements relating to initial coin offerings (ICOs) show the continuing efforts of the U.S. Securities and Exchange...