Securities litigation and enforcement
The Securities Litigation and Enforcement blog published by Norton Rose Fulbright covers developments in securities regulation, enforcement actions, and litigation trends affecting capital markets and financial institutions. It addresses regulatory changes by bodies such as the SEC and DOJ, shareholder proposal processes, class action litigation related to securities, and cross-border enforcement issues. The blog also discusses compliance strategies, white-collar crime enforcement priorities, and the impact of evolving legal frameworks on securities brokerage and financial crimes. It serves as a resource for legal professionals and market participants seeking updates on securities law enforcement, regulatory policy shifts, and litigation risks.
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Proof of a Guilty Mind is Required to be Convicted for Aiding a Person to Commit an Offence under the Quebec Securities Act
At-a-glance
In Heller c. Autorité des marchés financiers, 2022 QCCA 208, the Court of Appeal of Quebec (Court of Appeal) considered whether the offence under section 208 of the Quebec Securities Act (QSA)[1], which states that “[e]very person who,…
The Fine Line Between a Material Change and a Material Fact
By Admin
Earlier this year, the Ontario Superior Court of Justice (ONSC) in Markowich v. Lundin Mining Corporation, 2022 ONSC 81 (Markowich) denied leave to commence a secondary market securities class action under Part XXIII.1 of Ontario’s Securities Act (the OSA)…
Consequences from Coin Offerings: Ontario Securities Commission Affirms Cryptocurrency’s Status under Canadian Securities Laws
On December 22, 2021, the Ontario Securities Commission (the OSC) recently released the decision of Miner Edge Inc.(Re), 2021 ONSEC 31 (the Miner Edge Decision).[1] Although CSA has published guidance on the application of securities laws to cryptocurrency offerings…
Alberta Court of Appeal Overturns Finding that Administrative Penalty Survives Bankruptcy
We earlier blogged here about Alberta Securities Commission v Hennig (Hennig QB) in which a chambers judge held that an administrative penalty levied by the Alberta Securities Commission (ASC) survived an individual’s discharge from personal bankruptcy under ss 178(1)(a) and…
Regression Analysis Fails to Save the Day for the Defendant
By Admin
On November 2, 2021, the Ontario Divisional Court dismissed a motion for leave to appeal the decision of Justice Morgan, who granted leave to the plaintiff to commence an action under section 138.3 of the Ontario Securities Act (OSA) against…
From Textual to Contextual: Court of Appeal Affirms the Scope of ‘Public Corrections’ in Statutory Secondary Market Misrepresentation Claims
In Baldwin v Imperial Metals Corporation, 2021 ONCA 838 (Baldwin), the Ontario Court of Appeal considered the scope of ‘public corrections’ in secondary market misrepresentation claims under Ontario’s Securities Act (the Securities Act) and followed the reasoning of its…
Not-so “Great Offers”: Hefty Penalties for Entrepreneurs Promoting Cryptoasset Mining Contracts Online
At-a-glance
In Autorité des marchés financiers c. GO Great Offers Direct Ltd., 2021 QCTMF 57, the Financial Markets Administrative Tribunal (TMF or Tribunal) imposed administrative penalties of $50,000 on each of Martin LeBlanc (LeBlanc) and Johnny Martin (Martin) and…
SEC SPEAKS: Enforcement’s Planned Use of Aggressive Remedies
In his remarks at SEC Speaks 2021 on October 13, 2021, the Securities and Exchange Commission’s (“SEC”)’s new Director of Enforcement, Gurbir Grewal, discussed the waning public trust in “our financial markets” and the “near historic lows” of confidence in…
No Stay of Financial Markets Administrative Tribunal Orders Freezing Bank Accounts and Suspending Rights Granted by Registration Pending Appeal
Alteon Senat c. Autorité des marchés financiers, 2021 QCCQ 7090 (CanLII), https://canlii.ca/t/jhnl5
(Available in French only)
No Stay of Financial Markets Administrative Tribunal Orders Freezing Bank Accounts and Suspending Rights Granted by Registration Pending Appeal
FACTS
After having filed…