Information About Risk Management & Crisis Response
Below is a preview of the five most recent posts from the blog Risk Management & Crisis Response. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!
- Some relief for Crystal Wealth investors eyed as OSC settles with BDO for failure to meet auditing standards
Staff of the Ontario Securities Commission (“OSC”) have once again successfully pursued an audit firm for various failings Staff allege contributed to investor losses. On January 24, 2020, the OSC approved a settlement agreement in a hearing held before Vice-Chair D. Grant Vingoe. Pursuant to the ap … Read more »
- Greater clarity on Prohibited Insider Trading in the United States?
Canadian securities legislation explicitly prohibits trading by insiders who possess material non-public information (MNPI). However, notwithstanding the significantly more effective enforcement efforts of American enforcement agencies relating to insider trading, prohibitions in the United States a … Read more »
- British Columbia government consultations on changes to Mortgage Brokers Act and Disclosure of Beneficial Ownership
The Provincial government announced on Friday, January 17, 2020, that it will be accepting feedback on two consultations to assist in its ongoing campaign to combat money laundering, tax evasion and fraud in the Province, namely (1) the Mortgage Brokers Act Review Public Consultation Paper (MBA Cons … Read more »
- Déjà vu all over again: SEC lays fraud charges against former Portus co-founder Boaz Manor
Boaz Manor – the co-founder of the failed investment manager Portus Alternative Asset Management Inc. (“Portus”) – finds himself once again at the heart of another securities scandal. The United States Securities and Exchange Commission (“SEC”) has recently brought an action against Manor, his assoc … Read more »
- CSA issues guidance that securities legislation likely applies to custodial cryptoasset trading platforms
On January 16, 2020, the Canadian Securities Administrators (CSA) released CSA Staff Notice 21-327 Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets [PDF] (the Staff Notice). This guidance has significant implications for Canadian and foreig … Read more »