On February 7, 2017, multiple organizations — The International Swaps and Derivatives Association (ISDA), the Global Financial Markets Asso…
Saskatchewan Court of Appeal clarifies the role of out of province representative plaintiffs
In Ammazzini v Anglo American PLC, 2016 SKCA 164, the Saskatchewan Court of Appeal clarified the rights of an out of province representative …
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 jurisdic…
Divided Court of Appeal Certifies a “Global” Class Action
In Excalibur Special Opportunities LP v Schwartz Levitsky Feldman LLP, a majority of the Court of Appeal for Ontario certified a “globa…
Enerzone Inc. v. Ontario (Revenue): Order refusing to dismiss an appeal without disposing of substantive issues was interlocutory
In Enerzone Inc. v. Ontario (Revenue), the Ontario Court of Appeal quashed the Minister’s appeal on the basis that the motion judge’s order was interl…
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
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 suppo…
Significant Amendments to the Rules of the Supreme Court of Canada
On January 1, 2017, the Rules Amending the Rules of the Supreme Court of Canada, SOR/2016-271 (the “Amendments”) and the Guidelines for Pr…
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 (SEC…
When can a defendant appeal from the authorization of a class action? The Québec Court of Appeal rules
The new Code of Civil Procedure, in force since January 1st, 2016, brought important changes to the class action regime. By the introductio…
