Banking and Financial Services Banking and Financial Services

The AMF is called to order by the Québec Superior Court

In a rare judgment, the Québec Superior Court dismissed an administrative decision rendered by the Autorité des marchés financiers (the AMF, the...

“Wake-up call” for Australian Boards: Regulator identifies shortcomings in Bank’s practices

In the wake of the 2008 financial crisis and revelations concerning Wells Fargo’s sales practices, numerous reviews have been launched by...

OSC reaches settlement with former legal assistant who tipped on major M&A transactions

On April 20, 2018, the Ontario Securities Commission (OSC) reached a settlement with Donna Hutchinson, a former legal assistant, for providing a...

A new KYC requirement may be coming to a credit agreement near you

On May 11, 2018, the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued the Customer Due Diligence Requirements for...

At-the-market (ATM) offerings using the Multijurisdictional Disclosure System (MJDS)

An at-the-market (ATM) program may be just the right way to raise additional equity capital quickly and inexpensively.

Ontario’s 2018 budget emphasizes expanded consumer and investor protection tools

On March 28, 2018, the Ontario Liberal government released its 2018 budget (the 2018 Budget). As part of a broader emphasis on consumer and investor...

Canada publishes final bail-in regulations

On March 27, 2018, the Government of Canada released the final version of the bail-in regulations under the Bank Act and the CDIC Act (Bail-in...

Canadian financial sector legislation renewal – Amendments to Bank Act, Insurance Companies Act and Trust and Loan Companies Act

In February 2018, the Canadian federal government had indicated, as part of its budget plan, that it intends to modernize the financial sector...

Court of Appeal upholds significant OSC insider trading decision in Finkelstein

On January 25, 2018, the Ontario Court of Appeal released its decision in the high-profile Finkelstein v Ontario Securities Commission case,...