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Québec insider trading decision discusses transactional certainty for the materiality criterion

The Financial Markets Administrative Tribunal considered insider trading allegations around a proposed takeover of a Canadian energy company.

Aggressive enforcement by securities regulators continues

A recent decision of the Supreme Court of British Columbia granted a Mareva injunction, freezing the assets of the defendant. The required...

Materiality in insider trading: recent insights from the Québec Financial Markets Administrative Tribunal

What threshold must a proposed transaction meet to be classified as material non-public information? Pursuant to Québec’s Securities Act,...

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...

Corporate transparency registers: what private companies need to know as requirements get stricter across Canada

Requirements for private companies to disclose corporate ownership information on “transparency registers” have swept across Canada. We explain...

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.

Securities and Exchange Commission approval of Ether ETFs

The U.S. Securities and Exchange Commission has approved a proposed rule change allowing major exchanges to list Ethereum exchange-traded funds.

BC Hydro’s request for proposals reinforces foundation for Indigenous participation in clean energy future

We address the actions taken by power authorities across Canada to encourage Indigenous participation in new energy-generating projects.

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...