Courtesy of Grace McDonald
Courtesy of Grace McDonald
Grace McDonald was planning a short break from the pressure cooker of corporate and securities law when she signed up to climb a 6,000-metre Nepalese mountain in 2010, a trip that would let her tick Everest Base Camp off her bucket list and help her recover from the burnout triggered by multiple 100-hour work weeks. But the mountaineering bug bit hard, and each big peak led to a bigger or harder one. Toronto-based McDonald, 38, says she’d go back to law if conditions were right, but traditional, conservative law firms don’t seem able to accommodate a team member who wants a couple of months off each year to indulge her exhilarating, high-altitude passion.
Published in Departments
I think it is a certain sign of my age that when thinking about the proliferation and ubiquity of social media my thinking has evolved from initially worrying about the creation of a permanent record of embarrassing personal choices to then becoming concerned that it may actually be more damning to have absolutely no record of any embarrassing activity, proceeding finally to the realization that I’m too “mature” to be a good judge of what, in 2016, is embarrassing.
Published in Commentary
Poison pill hearings: How not to shoot oneself in the footOn Oct. 4, Suncor Energy Inc., Canada’s largest oil producer, launched an unsolicited $4.3-billion hostile takeover bid for Canadian Oil Sands Ltd., taking advantage of an extended downstroke in energy prices.
Published in Latest News
Opening the deposit period to 120 days is causing some concern and discussion, says Aaron Atkinson.
Opening the deposit period to 120 days is causing some concern and discussion, says Aaron Atkinson.
This year, the Canadian securities regulator will propose significant changes to the takeover bid regime with the goal of providing target boards more time to respond, but will it serve to actually dampen merger and acquisition activity in the country?
Published in Latest News
Will Ontario’s whistleblower program blow holes in internal compliance systems?The Ontario Securities Commission has finally started the ball rolling on an initiative it first suggested back in 2011: a whistleblower program to provide financial rewards to people who report securities law breaches. In February, the OSC published a consultation paper on a proposed program framework, to stir up discussion and get feedback.
Published in Issue Archive
Anand Hariharan only had to pay the OSC back half of the 623-per-cent profit he made.
Anand Hariharan only had to pay the OSC back half of the 623-per-cent profit he made.
A Mississauga, Ont., man has settled with the Ontario Securities Commission over trading on a tip from a friend that netted him a 623-per-cent profit in one day, even though the company wasn’t a reporting issuer in Ontario.
Published in Latest News
Bayens v. Kinross: the Securities Act leave test revisitedIn 2002, Part XXIII.1 was added to the Ontario Securities Act. It established a statutory cause of action for investors damaged by secondary market misrepresentations disseminated by publicly traded corporations or their officers and directors.
Published in Web exclusive content
A tough year for North American insider trading enforcementRegulators on both sides of the border have made it a priority to try to police complex insider trading schemes. The aggressive approach by the Ontario Securities Commission, the Securities and Exchange Commission, and in particular the United States Attorney’s Office for the Southern District of New York has yielded stunning headlines over the last few years, but 2014 was marked by a series of setbacks in insider trading enforcement.
Published in Web exclusive content
You may be hungry again for responsibility in an hourHarry Truman famously had a sign on his desk in the Oval Office that said: “The buck stops here!” Certainly this is not what Harry meant, but a buck is not worth now what it was during his presidency. Truman probably would not recognize how political responsibility has evolved either. What has not changed, though, is the visceral appeal of that slogan, and how it speaks to a leader’s assumption of responsibility. Its simplicity, however, masks an important consideration: just because it is courageous, comforting, and evidence of strong leadership for an institution’s ultimate directing mind(s) to assume responsibility, it does not always mean in all cases responsibility should rest there. (My children often point out to me when I identify issues like this I express them in a manner as confusing as the message in a fortune cookie, which I could accept until the characterization was recently refined to say this would only be the case if the fortune cookies were baked large enough to house the pompous verbosity of an old lawyer. Ouch.)
Published in Commentary
A steeper hill for securities class actionsThe plaintiff’s securities class action bar takes on substantial risk when they bring a claim seeking leave under Part XXIII.1 of the Ontario Securities Act. Often, all counsel knows is there has been some wrongdoing at a company that has led to a dramatic decline in the price of a share. The diligent counsel reviews the company’s historic public disclosure, wherein the company’s health has been, without fail, viewed through rose-coloured glasses. Once the corrective disclosure occurs, the security’s value tumbles down to earth and investors are left holding the bag.
Published in Web exclusive content
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