Capital Markets Regulatory Enforcement Capital Markets Regulatory Enforcement

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...

OSC settles allegations relating to cryptocurrency tokens

In a first, Ontario’s Capital Markets Tribunal has approved a settlement agreement related to the promotion and sale of cryptocurrency tokens....

More complaints and more investigations: highlights from CIRO’s inaugural Enforcement Report

The Canadian Investment Regulatory Organization released a report on its enforcement activities for its first year of operations. Lawrence Ritchie,...

CSA and CIRO review comments but come to no conclusion (yet) on short selling regulatory regime

The Canadian Securities Administrators and the Canadian Investment Regulatory Organization have released stakeholder comments and responses solicited...