Banking and Financial Services Banking and Financial Services

CSA announces harmonized approach toward client focused reforms and policy on embedded commissions

The Canadian Securities Administrators recently announced a comprehensive, harmonized approach for addressing investor protection concerns regarding...

Toronto Stock Exchange proposes to amend public company acquisition buy-side security holder approval requirement

The Toronto Stock Exchange (TSX) is proposing to amend the requirement for buy-side security holder approval in connection with a dilutive...

CSA publishes harmonized response to concerns regarding client-registrant relationship

On June 21, 2018, the Canadian Securities Administrators (CSA) released two published notices concerning investor protection initiatives.  The...

The AMF is called to order by the Québec Superior Court

In a rare judgment, the Québec Superior Court dismissed an administrative decision rendered by the Autorité des marchés financiers (the AMF, the...

“Wake-up call” for Australian Boards: Regulator identifies shortcomings in Bank’s practices

In the wake of the 2008 financial crisis and revelations concerning Wells Fargo’s sales practices, numerous reviews have been launched by...

OSC reaches settlement with former legal assistant who tipped on major M&A transactions

On April 20, 2018, the Ontario Securities Commission (OSC) reached a settlement with Donna Hutchinson, a former legal assistant, for providing a...

A new KYC requirement may be coming to a credit agreement near you

On May 11, 2018, the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued the Customer Due Diligence Requirements for...

At-the-market (ATM) offerings using the Multijurisdictional Disclosure System (MJDS)

An at-the-market (ATM) program may be just the right way to raise additional equity capital quickly and inexpensively.

Ontario’s 2018 budget emphasizes expanded consumer and investor protection tools

On March 28, 2018, the Ontario Liberal government released its 2018 budget (the 2018 Budget). As part of a broader emphasis on consumer and investor...