Capital Markets Regulatory Enforcement and Broker-Dealer Disputes

Overview

Osler’s Capital Markets Regulatory Enforcement and Broker-Dealer Disputes Group has extensive experience in the handling of regulatory and enforcement issues encountered by participants in the Canadian capital markets, including Canadian and non-Canadian public companies, financial services firms, accounting firms and their respective directors, officers, senior management, partners and employees. We routinely advise and represent investment dealers, securities advisors and other market participants in regulatory investigations and enforcement proceedings before provincial securities commissions, self-regulated organizations and securities exchanges. We also represent public company boards, audit committees and special committees in internal investigations and enforcement proceedings in response to allegations of insider trading, disclosure violations, financial fraud, accounting irregularities, and other misconduct. We provide advice and representation to brokers, investment dealers, and individual registrants in connection with investigations, regulated arbitration processes and civil proceedings - including class actions - brought by brokerage clients for losses sustained in their retail brokerage accounts.

The group is comprised of lawyers who are highly respected within the securities industry and the courts, both in Canada and internationally. The Co-Chair of the Osler Capital Markets Regulatory Enforcement and Broker-Dealer Disputes Group is the former Vice Chair of the Ontario Securities Commission and the Senior Vice President and Senior Policy Advisor at the Canadian Securities Transition Office. He offers an insider’s perspective on dealing with securities regulators in Canada.  Lawyers in the group have a wide-ranging depth of knowledge, having been seconded to provincial securities commissions, taught securities courses in law schools, written extensively and lectured frequently on securities enforcement and regulatory issues. Drawing upon their years of experience and practical knowledge of government and regulatory policy, decision making, enforcement practices and personnel, they critically assess each matter to implement strategies tailored to each particular case and client.

Osler’s Capital Markets Regulatory Enforcement and Broker-Dealer Disputes Group is coordinated among Osler’s four Canadian offices – Toronto, Calgary, Montréal and Ottawa – enabling us to provide comprehensive advice for all securities related matters. We offer integrated teams of leading lawyers across multiple disciplines to provide clients with informed, efficient and effective representation. We also work collaboratively with Osler’s Internal Investigations Group to manage internal investigations on behalf of boards and board committees of companies and regulated entities, along with advice on the establishment and implementation of securities law compliance programs and counsel on specific compliance concerns. 

Representative Matters

  • Acting for issuers, corporate officers and directors and securities industry participants in internal and regulatory investigations, and in prosecutions by securities regulatory authorities, including those relating to allegations of improper trading in the shares of Atlas Cold Storage, Book for Golf, Imax Corporation, ATI Technologies Inc., Torvalon, BelTeco, Agnico-Eagle, Sino Forest, Portus, Norshield and Research in Motion
  • Acting for numerous Canadian investment dealers in connection with investigations, regulated arbitration processes and civil proceedings - including class actions - based on losses sustained in client accounts.
  • Acting for a leading accounting and consulting firm in regulatory proceedings involving the OSC, SEC and RCMP relating to allegations of accounting and securities fraud at a global technology company, as well as in respect of related cross-border class action proceedings.
  • Acting for a major Canadian financial institution in connection with several high profile receivership proceedings commenced by the OSC.
  • Acting for a Canadian accounting firm in connection with the investigation of one of its audit clients by the OSC, the Integrated Market Enforcement Team and other regulators.

DownloadDownload

Lawrence E. Ritchie

Partner, Litigation
Toronto

Tristram Mallett

Partner, Litigation
Calgary

Fabrice Benoît

Partner, Litigation
Montréal
  • Biovail Corporation

    Acted for Biovail Corporation in respect of a proceeding before the OSC.

  • Magna Entertainment Corporation

    Acted for Magna Entertainment Corporation in proceedings before the OSC brought by shareholders of a company who sought a vote of minority shareholders to approve certain transactions.

  • Autorité des marchés financiers

    Acted as Manager in charge for the Autorité des marchés financiers in connection with the joint investigation conducted with the OSC and IIROC on Asset Back Commercial Paper.

  • Find More