Mark Gelowitz, Allan Coleman, Robert Carson
Securities regulation in Canada is governed by a patchwork of provincial legislation, regulations, rules, instruments and policies, with additional input from stock exchanges (notably, the Toronto Stock Exchange), the Criminal Code of Canada, business corporation statutes and the common law. The way these interact and the role they play in the enforcement of securities law is discussed in detail in the recently released second edition of The Securities Litigation Review: Canada. In the publication, authors and Osler lawyers Mark Gelowitz, Allan Coleman and Robert Carson examine securities litigation in Canada and offer insight into how rights related to the issuance and exchange of publicly traded securities are enforced across the country, with sections devoted to both public and private enforcement proceedings.
In addition, the authors provide an overview of cross-border issues and the circumstances under which Canadian courts can exercise jurisdiction over a dispute. Perhaps most notably, the publication features a Year in Review section that contains statistics from the Canadian Securities Administrators relating to enforcement by securities regulators in Canada in 2015 as well as an analysis of the significant developments from the previous year, including the introduction of Ontario Securities Commission’s proposed whistle-blower programme, the Supreme Court of Canada trilogy that addressed issues surrounding securities misrepresentation claims in Ontario, the largest hostile bid in Canada in 2015 and the details of an initiative to establish a national securities regulator. The chapter concludes with a look ahead at 2016 which the authors expect will provide clarification around the Ontario Securities Commission’s approach to insider trading.
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