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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...

Regulators worldwide increasingly scrutinizing initial coin offerings

Recent announcements and other actions by financial regulators around the world signal growing regulatory concern over the rapid growth of initial...

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...

U.S. Supreme Court to rule on deference owed to SEC interpretation of securities legislation

We have previously discussed the pending appeal in Digital Realty Trust v. Somers, in which the U.S. Supreme Court will determine the scope of the...

Open banking and cyber risk – balancing customer interests

In August, the Canadian government published a consultation paper as part of its ongoing review of Canada’s financial sector.  The...

DOJ’s non-prosecution deal with Swiss firm illustrates the benefits of cooperation

The Department of Justice and Internal Revenue Service announced that a non-prosecution agreement has been entered into by the DOJ and Swiss...

AMF releases paper on managing conflicts of interest related to incentives in insurance

The Autorité des marchés financiers (the “AMF”) recently released an issues paper on managing conflict of interest risk in relation to...

Corporate whistleblower rewarded pursuant to the False Claims Act

Sanofi-Aventis has been rewarded $38.7 million for its role as a whistleblower in a settlement between another major pharmaceutical company and the...

OSC panel approves $12.5 million settlement with Home Capital Group Inc.

On August 9, 2017 a panel of the Ontario Securities Commission approved a settlement agreement with Home Capital Group Inc. and three of its former...