Risk Management and Crisis Response Risk Management and Crisis Response

CSA Staff Notice highlights concerns with Registered Firms’ Complaint System

On December 7, 2017, the Canadian Securities Administrators (CSA) jurisdictions and staff of the Investment Industry Regulatory Organization of...

Turning yourself in: the Alberta Securities Commission strengthens incentives for self-reporting

With its recent implementation of the Credit for Exemplary Cooperation in Enforcement Matters policy (ASC Policy), the Alberta Securities Commission...

The long arm of the law: Multilateral enforcement effort leads to deferred prosecution agreement for Telia

On September 21, 2017 Swedish telecoms company Telia Co. AB agreed to pay $548.6 million in penalties as part of a deferred prosecution agreement...

AMF to take closer look at registrants’ business relationships

The Autorité des marchés financiers (“AMF"), in seeking to bolster its role as a local regulator and better support the industry,...

Financial regulatory landscape is evolving to protect consumers: A post-Wells Fargo world

Following revelations about Wells Fargo’s sales practices, Canadian regulators have launched many reviews, which could lead to big changes in the...

Ontario Court of Appeal reaffirms importance of procedural fairness

In Levac v. James, 2017 ONCA 842, the Ontario Court of Appeal emphasized the importance of procedural fairness in certification hearings and related...

OBSI complaint volumes on the rise

On October 30, 2017, Ombudsman for Banking Services and Investments released its first quarterly OBSI e-news publication, highlighting key...

OSC alleges legal assistant involved in insider trading

The Ontario Securities Commission has issued a statement of allegations against a former legal assistant at a major Bay Street law firm and three...

OFAC announces sanctions settlement against Canadian company’s U.S. parent

On October 5, 2017, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) announced a $372,465 settlement with...

Government seeks input on introducing deferred prosecution agreements regime in Canada

On September 25, 2017, the Government of Canada announced the launch of a public consultation seeking input on potential enhancements to the...