Banking and Financial Services Banking and Financial Services

Second Circuit upholds insider trading conviction in Gupta v. United States

In a summary order released on January 7, the Second Circuit Court of Appeals in Gupta v. United States upheld the insider trading conviction of...

OSC approves $30 million settlement with Katanga over financial misstatements and failure to disclose DRC risks

Reflecting the trend toward increasing monetary penalties, the Ontario Securities Commission (the “OSC”) accepted an eye-popping $30...

Recent initial coin offerings settlements show broadening SEC enforcement campaign

A series of recently announced settlements relating to initial coin offerings (ICOs) show the continuing efforts of the U.S. Securities and Exchange...

Financial Consumer Agency of Canada to conduct investigation into consumer complaint processes

In its Fall Economic Statement released November 21, 2018, the Government of Canada detailed upcoming initiatives and legislative amendments...

SEC charges token trading platform founder for operating unregistered securities exchange

A settlement recently announced by the Securities and Exchange Commission (SEC) highlights the risk of personal liability for individuals who develop...

Reference re Pan-Canadian securities regulation

Canada’s long pursuit of a more integrated and national approach to securities regulation has received a major boost. In its November 9, 2018...

Fantl v ivari: Defendant required to pay for its preferred notice plan

Once a class action is certified, Ontario’s Class Proceedings Act requires that class members be sent a notice describing, among other things,...

Ontario Court of Appeal rules on use of annualizing formulas in debt documents

Established commercial practice prevails in the Ontario Court of Appeal’s recent decision in Solar Power Network Inc. v. ClearFlow Energy Finance...

AMF not successful in convincing Court of Appeal in a market manipulation case

The Québec Court of Appeal recently rendered a judgment addressing the elements constituting an offence for market manipulation as set forth in...

Government of Ontario rejects CSA proposal on embedded commissions

Earlier today, the Canadian Securities Administrators published proposed regulatory amendments that would prohibit the payment of commissions to...