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DOJ enters into non-prosecution agreement with Las Vegas Sands Corporation over alleged FCPA violations

Deferred or non-prosecution agreements are not a feature of the Canadian enforcement landscape, but are used effectively in a number of other...

CSA Proposes to Discontinue Embedded Commissions for Investment Fund Sales and Transition to Direct Pay Arrangements

On January 10, 2017, the Canadian Securities Administrators (CSA) published for a 150-day comment period CSA Consultation Paper 81-408 - Consultation...

Ignored Employee Turns Key Source in Proceedings Brought Against Former Hedge Fund Bosses

Former Visium Asset Management LP trader, Jason Thorell’s cooperation with the SEC Whistleblower Program and other US federal agencies has...

Charges Laid for $1 Billion Investment Fraud – Although Red Flags Existed for Years

Hedge fund founder Mark Nordlicht was charged last December by both the US Department of Justice (DOJ) and the Securities and Exchange Commission...

Divisional Court Upholds Significant OSC Insider Trading Case

Recently, we provided a brief update on the release of the Finkelstein v. Ontario (Securities Commission) appeal decision (update available here),...

Payments Canada announces a multi-year, multi-phase plan to modernize Canada’s payment systems

On October 8, 2016, Payments Canada announced a high-level, multi-year, multi-phase plan to modernize Canada’s payment systems (the press...

Significant insider trading cases on both sides of the border

The first week of December 2016 has proven to be a big one for pursuers of alleged insider traders on both sides of the border. On December 2,...

JPMorgan pays $264 million to settle FCPA investigation over hiring practices in China

On November 17, 2016, J.P. Morgan Chase & Co. (“JPMorgan”) and a subsidiary, JPMorgan Securities (Asia Pacific) Limited...

Cash collateral for derivative arrangements – impact of proposed amendments to PPSA

The Ontario Personal Property Security Act (PPSA) currently does not allow cash collateral to be perfected by “control.” In addition,...

Rewards points – proposed amendments in Ontario could affect hundreds of companies

The offer of rewards points (either through credit card spending or other loyalty programs) has become so ubiquitous in consumer businesses that...