Risk Management and Crisis Response Risk Management and Crisis Response

Nike withdraws from supplying Iranian World Cup Team over sanctions concerns

Nike announced on June 11, 2018 that it would withdraw from supplying shoes to players on the Iranian national soccer team as a result of U.S....

Alberta Securities Commission to allow no-contest settlements in some cases

On Friday, May 4, 2018, the Alberta Securities Commission (“ASC”) announced an addition to the Credit for Exemplary Cooperation in...

Ontario Securities Commission places mutual fund sales practices under scrutiny again

As part of a recent Settlement Agreement, the Ontario Securities Commission has ordered 1832 Asset Management LP (“1832”), a...

U.S. financial industry “eagerly” awaits SEC’s best interest standard

While in Canada division continues over the issue of “best interest” in the financial advisory industry the U.S. national securities...

Compliance update – deferred prosecution agreements finally come to Canada

The Canadian federal government released Bill C-74 on March 27, 2018. Bill C-74 (a 500-page plus document) proposes amendments to several statutes to...

Regulators on both sides of the border pursue initiatives focused on investment adviser conflicts of interest

On February 12, 2018, the U.S. Securities and Exchange Commission (“SEC”) announced a new self-reporting initiative that seeks to protect...

U.S. Bancorp pays $613-million for deficient AML measures

On February 12, 2018, U.S. Bancorp (“USB”) – the parent company of U.S. Bank and the fifth largest bank in the United States...

Government announces results of consultation on addressing corporate wrongdoing: Deferred prosecution agreement regime to be introduced in Canada

It appears that Canada is moving one step closer to joining other jurisdictions that permit deferred prosecution agreements (“DPAs”), in...

SEC announces its 2018 enforcement priorities

The Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) recently...

Oral summaries thwart work product protection: The case of SEC v. Herrera

In Securities and Exchange Commission v. Herrera, 2017 WL 6041750 (S.D. Fla. December 5, 2017), a U.S. Magistrate Judge in the Southern District...