Corporate and Securities Disputes Corporate and Securities Disputes

First Merits Decision for Secondary Market Misrepresentation Class Action

Until recently, Ontario courts had not considered on the merits a class action under the secondary market misrepresentation provisions of the Ontario...

Jurisdiction and tolling agreements with the SEC: Watching the Fowler Case through Canadian eyes

Regulatory investigations can be time consuming. Uncertainty surrounding ultimate outcomes is disruptive to the personal and business decision-making...

Litigating during COVID-19 and other notable litigation developments in 2020

In March 2020, the COVID-19 pandemic forced many courts and tribunals to shut their doors. This article highlights a number of the changes and...

Evolving capital markets regulatory enforcement

Even prior to the impacts of COVID-19, change was on the horizon for capital markets enforcement in 2020.

Ninth Circuit holds that whistleblower allegations qualify as corrective disclosure in securities class action

In re Bofl Holding, Inc. Securities Litigation, a decision released on October 8, 2020, the U.S. Court of Appeals for the Ninth Circuit (the...

IIROC Rules: Respondent use of complainant interview in related proceeding is in the public interest

In Re Malic, 2020 IIROC 37, a decision released on October 6, 2020, the IIROC Hearing Panel (Alberta District) (the “Hearing Panel”)...

Osler comments on Capital Markets Modernization Taskforce consultation report

On September 7, 2020, in a comprehensive letter to the Government of Ontario Capital Markets Modernization Taskforce, we expressed our views on the...

U.S. DOJ and SEC update Foreign Corrupt Practices Act guidance

As we have discussed on a number of occasions, the approach taken to investigating and prosecuting financial crime in the United States is...

Ontario Appeal Court addresses the definition of a “security”: if it looks, walks and quacks like a duck, it MAY be a duck

In a decision released March 16, 2020 that may have implications for the regulatory treatment of certain financial instruments in...

Bankruptcy discharge not an option for securities law violators B.C. Court rules

On April 15, 2020, the British Columbia Supreme Court denied an application by a married couple previously found to have contravened B.C. securities...