Monday, 03 August 2015 08:00
|Opening the deposit period to 120 days is causing some concern and discussion, says Aaron Atkinson.|
Published in Latest News
Monday, 27 April 2015 08:00
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
Monday, 06 April 2015 08:00
|Anand Hariharan only had to pay the OSC back half of the 623-per-cent profit he made.|
Published in Latest News
Monday, 12 January 2015 10:52
Monday, 29 December 2014 08:00
Regulators 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.
Monday, 04 August 2014 08:00
Harry 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
Monday, 28 July 2014 08:00
The 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.
Monday, 09 June 2014 09:58
The Alberta Court of Appeal released a surprising decision in Andriuk v. Merrill Lynch Canada Inc., in which it has imported the obligation of establishing evidence of class-wide loss from the specialized field of price-fixing actions to a claim grounded in breach of contract and breach of fiduciary duty causing a depreciation in share price.
Monday, 02 June 2014 08:00
|Illustration: Pierre-Paul Pariseau|
Published in Features
Monday, 26 May 2014 08:00