Information About Securities litigation and enforcement
Below is a preview of the five most recent posts from the blog Securities litigation and enforcement. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!
- COVID-19 Scams on the Rise and Enforcement on the Horizon
As COVID-19 continues to impact capital markets around the world, securities regulators in North America are responding to an increasing number of securities-related scams. Provincial securities regulators across Canada, as well as the United States Securities and Exchange Commission, have now issue … Read more »
- Another nail in PlexCoin’s crypto-coffer: TMF decision affirmed on appeal
As discussed in our previous post, the Financial Markets Administrative Tribunal (TMF) had provided clarity in the application of the “investment contract” criteria, first enunciated in Pacific Coast Coin Exchange v. Ontario Securities Commission and codified under article 1 of the Quebec Securities … Read more »
- Securities Commission Administrative Fines Are Forever
As we discussed in a previous post, administrative penalties levied by securities commissions may survive a discharge in bankruptcy. A recent decision of the Supreme Court of British Columbia (Court), Poonian (Re), 2020 BCSC 547 (Re Poonian), highlights that in addition, such administrative penaltie … Read more »
- Ontario Court of Appeal Rejects “Family Resemblance Test”; Sets Aside Custodial Sentence
On March 16, 2020, the Ontario Court of Appeal released its highly anticipated decision in the saga concerning the Ontario Securities Commission’s (OSC) prosecution of Daniel Tiffin (Mr. Tiffin). The Court’s decision helps clarify the analysis used to determine whether a financial instrument falls w … Read more »
- Class members opting out of secondary-market liability class actions and instituting their own claims – Are there prescription or forfeiture defences available under the Quebec regime?
The Quebec Superior Court, in California States Teachers’ Retirement System v. Bausch Health Companies Inc. (2020 QCCS 275), recently clarified the rules applicable to limitation periods in the context of secondary-market liability actions under the Quebec Securities Act (QSA). Much like its Ontario … Read more »