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!
- Findings of Fraud Constitute “Other Good Reason” to Order Security for Costs
Hung v Ontario Securities Commission, 2018 ONSC 6729 (Div Ct) The Divisional Court has released yet another chapter in the saga of one of the largest frauds in Canadian history. In 2017, after a 188-day merits hearing, the Ontario Securities Commission (the Commission) released its decision concern … Read more »
- Stop the presses! Canadian securities regulators raise concerns about press releases and other promotional activities
The Canadian Securities Administrators (CSA) have issued a notice regarding misleading promotional activities by issuers. The notice includes examples such as press releases, presentations, social media posts and other marketing materials that provide insufficient or unbalanced information or that … Read more »
- Crime Doesn’t Pay: OSC Permanently Bans Convicted Fraudster
On November 26, 2018, the Ontario Securities Commission (OSC) issued an order permanently prohibiting Daniel Reeve, a financial planner based in the Kitchener, Ontario area, from participation in Ontario’s capital markets, including trading in any securities and becoming or acting as a registrant. T … Read more »
- When Will Referral Arrangements Constitute Trading under the BC Securities Act?
In a recent decision of the BC Securities Commission (BCSC), the BCSC provides helpful guidance concerning when referral arrangements cross the line and become trading for which registration is required. Chien-Hua Liu (Liu) and two affiliated corporations referred BC and Hong Kong investors to two i … Read more »
- Divisional Court Upholds OSC Finding that Trading Software License Contracts are Securities Within Meaning of Securities Act
The Ontario Superior Court of Justice in Furtak v Ontario (Securities Commission), 2018 ONSC 6616, has upheld the Ontario Securities Commission’s (OSC) merits and sanctions decisions with respect to the Strictrade Offering, which we previously reported on here. Background In 2015, OSC Staff brought … Read more »
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