Capital Markets Regulatory Enforcement Capital Markets Regulatory Enforcement

The OSC’s new proposal to distribute funds from disgorgement orders to harmed investors

The Ontario Securities Commission (OSC) has published proposed rules that outline the procedure the OSC and harmed investors must follow for the...

‘Deal with this escape hatch’ – B.C. Securities Commission calls for bankruptcy law reform following Supreme Court of Canada decision

The recent decision in Poonian v. British Columbia has prompted the B.C. Securities Commission to call for bankruptcy law reform.

Supreme Court of Canada decision impacts Securities Commissions’ ability to collect from bankrupt transgressors

On July 31, 2024, the Supreme Court of Canada ruled on whether financial sanctions imposed by securities regulators are dischargeable through...

Brar: contempt proceedings against uncooperative witnesses by the B.C. Securities Commission are constitutional

The British Columbia Court of Appeal has affirmed that the power of the province’s Securities Commission to compel evidence from witnesses and,...

B.C. Securities Commission issues first administrative penalty under new regime

On November 17, 2023, the B.C. Securities Commission (the BCSC) issued a $12,000 administrative penalty to Capstone Asset Management Inc. (Capstone)...

Long-awaited U.S. Supreme Court ruling curtails SEC’s use of administrative courts

The U.S. States Supreme Court ruled on a decade-long dispute between the SEC and a hedge fund manager.

Extension and clarifications on the regulation of value-referenced cryptoassets

On April 17, 2024, the Canadian Securities Administrators announced an extension for crypto trading platforms dealing with value-referenced...

SEC wins novel ‘shadow trading’ trial against biopharma executive

A novel theory of insider trading known as “shadow trading” involves the use of material non-public information about a reporting issuer...

CIRO publishes proposals to level the advisor compensation playing field

Earlier this year, the Canadian Investment Regulatory Organization published a consultation paper outlining policy options that would help to level...

The stigma associated with crypto is largely unwarranted

A struggle to fit cryptocurrency into existing regulatory regimes has contributed to some public perception that crypto is disproportionately used in...