Banking and Financial Services Banking and Financial Services

Five legal trends driving FinTech success

FinTechs require a sophisticated and thorough approach to the unique legal issues that are inherent when carrying out business in the financial...

Court highlights value of first-settling defendant co-operation in “ice breaker” settlements

In a recent decision from the Ontario Superior Court of Justice, Di Filippo and Caron v. Bank of Nova Scotia et al, 2019 ONSC 3282 (Di Filippo),...

NASAA targets ‘cross-selling’ sales tactic in investment and banking sectors

The North American Securities Administrators Association (NASAA) is an association of securities administrators from Canada, the United States of...

U.S. regulators coordinate enforcement of violations involving the FCPA

While many in Canada lament the ‘fragmented’ financial regulatory environment that is a hallmark of  its constitutional division of...

OSFI outlines technology and cyber security incident reporting expectations

The Office of the Superintendent of Financial Institutions Canada (OSFI) recently issued the Technology and Cyber Security Incident Reporting...

Wells Fargo officials reach $240 million settlement over unauthorized accounts

On February 28, 2019, a $240 million (U.S. dollar) settlement reached between Wells Fargo executives and directors and the bank’s U.S....

CSA and IIROC propose regulatory framework for cryptoasset trading platforms

On March 14, 2019, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) published a...

Ontario Securities Commission announces first ever whistleblower awards

In a landmark announcement on February 27, 2019, the Ontario Securities Commission said that it had paid out its first-ever whistleblower awards...

OSC seeks to reduce regulatory burden in step with Ontario Red Tape Initiative

The Ontario Securities Commission announced on January 14, 2019 that its Burden Reduction Task Force, in coordination with the Ministry of Finance,...

Mixed results in British Columbia white collar enforcement proceedings

Two high-profile cases in late 2018 demonstrate both the potentially grave consequences of securities law violations and the difficulties prosecutors...