Information About Securities litigation and enforcement
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- White Collar Criminals Beware – BC strengthening Securities Commission investigation and enforcement powers
On October 21, 2019, the BC provincial government announced sweeping and significant changes to the BC Securities Act which are intended to give the BC Securities Commission (BCSC) the strongest powers in the country to impose tougher consequences for wrongdoers. Bill 33-2019, the Securities Amendme … Read more »
- Dismissal of damages claim based on AMF press release announcing filing of market manipulation charges
In June 2013, the AMF laid two penal charges against Mr. Forget, the president and CEO of Clemex Technologies, a public company, alleging that he would have manipulated its stock close to five years earlier in 2008. A few weeks later, the AMF published a press release announcing the filing of the ch … Read more »
- Stung By Deceit: Re Natural Bee Works Apiaries Inc.
On July 3, 2019 the Ontario Securities Commission (“OSC”) released its decision in Re Natural Bee Works Apiaries Inc., 2019 ONSEC 23 (“Natural Bee”). Natural Bee provides useful guidance concerning proof of falsity and participation in a fraudulent scheme under section 126.1(1) of the Ontario Secu … Read more »
- Alberta Securities Commission secures restitution for Lutheran Church congregants
Two ordained ministers are among the five named individual Respondents who have settled with the Alberta Securities Commission (the Commission) in Re Lutheran Church-Canada, the Alberta-British Columbia District, 2019 ABASC 140. The individual Respondents were all involved in investment funds run b … Read more »
- Alberta Court of Appeal considers an investment scheme
The Alberta Court of Appeal has provided helpful analysis relating to personal liability of actors in investment schemes: personal liability of principals and claims under the Securities Act. Facts Charles Ryan promoted a plan to develop land through various corporate vehicles. Markus Abt invested $ … Read more »