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Open banking and cyber risk – balancing customer interests

In August, the Canadian government published a consultation paper as part of its ongoing review of Canada’s financial sector.  The...

DOJ’s non-prosecution deal with Swiss firm illustrates the benefits of cooperation

The Department of Justice and Internal Revenue Service announced that a non-prosecution agreement has been entered into by the DOJ and Swiss...

AMF releases paper on managing conflicts of interest related to incentives in insurance

The Autorité des marchés financiers (the “AMF”) recently released an issues paper on managing conflict of interest risk in relation to...

Corporate whistleblower rewarded pursuant to the False Claims Act

Sanofi-Aventis has been rewarded $38.7 million for its role as a whistleblower in a settlement between another major pharmaceutical company and the...

OSC panel approves $12.5 million settlement with Home Capital Group Inc.

On August 9, 2017 a panel of the Ontario Securities Commission approved a settlement agreement with Home Capital Group Inc. and three of its former...

Québec regulator takes aggressive enforcement steps against initial coin offering promoters

In recent weeks, Québec’s financial sector regulator, the Autorité des marchés financiers (AMF), has taken aggressive enforcement steps...

OFAC announces two major sanctions fines in July

This past July, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) announced two major fines for sanctions...

FINRA announces new initiatives to address “bad actor” brokers

In May, the U.S. Financial Industry Regulatory Authority (“FINRA”) Board of Governors approved a set of proposals as part of...

Regulators focusing attention on token sales using digital currencies

An investigation report released last week by the Securities and Exchange Commission strongly signals that the SEC views Initial Coin Offerings...

OSC releases long-awaited decision in Sino-Forest case

Six years after short seller Muddy Waters issued a report damning Sino-Forest Corporation as a fraud and a Ponzi scheme, the Ontario Securities...