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Divisional Court confirms that stiff penalties for securities fraudsters are warranted, even if they did not pocket the proceeds

In the recent case of North American Financial Group Inc. v Ontario Securities Commission, 2018 ONSC 136, the Ontario Divisional Court dismissed an...

Canadian Anti-Money Laundering Law: What you need to know about compliance program requirements

If you (as an individual or a business) are subject to the requirements of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and...

Mandatory new Canadian data breach obligations expected to take effect in 2018

Strict new Canadian security breach notification requirements are expected to be finalized and come into force during 2018. The requirements will...

CSA Staff Notice highlights concerns with Registered Firms’ Complaint System

On December 7, 2017, the Canadian Securities Administrators (CSA) jurisdictions and staff of the Investment Industry Regulatory Organization of...

Regulators continue cross-border crackdown on allegedly fraudulent initial coin offering

Québec’s Autorité des marchés financiers (AMF) and the U.S. Securities and Exchange Commission (SEC) have escalated efforts to shut down the...

Turning yourself in: the Alberta Securities Commission strengthens incentives for self-reporting

With its recent implementation of the Credit for Exemplary Cooperation in Enforcement Matters policy (ASC Policy), the Alberta Securities Commission...

Walmart sets aside US$283 million to potentially resolve FCPA allegations

Wal-Mart Stores Inc. announced in a November 16, 2017 filing with the U.S. Securities and Exchange Commission (“SEC”) that it has set...

The long arm of the law: Multilateral enforcement effort leads to deferred prosecution agreement for Telia

On September 21, 2017 Swedish telecoms company Telia Co. AB agreed to pay $548.6 million in penalties as part of a deferred prosecution agreement...

AMF to take closer look at registrants’ business relationships

The Autorité des marchés financiers (“AMF"), in seeking to bolster its role as a local regulator and better support the industry,...

United States v. Allen: Second Circuit’s decision has cross-border ramifications for compelled evidence

The United States Court of Appeals for the Second Circuit has refused to re-hear its decision in United States v. Allen, which ruled that it is...