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Government announces results of consultation on addressing corporate wrongdoing: Deferred prosecution agreement regime to be introduced in Canada

It appears that Canada is moving one step closer to joining other jurisdictions that permit deferred prosecution agreements (“DPAs”), in...

Divisional Court confirms that stiff penalties for securities fraudsters are warranted, even if they did not pocket the proceeds

In the recent case of North American Financial Group Inc. v Ontario Securities Commission, 2018 ONSC 136, the Ontario Divisional Court dismissed an...

The long arm of the law: Multilateral enforcement effort leads to deferred prosecution agreement for Telia

On September 21, 2017 Swedish telecoms company Telia Co. AB agreed to pay $548.6 million in penalties as part of a deferred prosecution agreement...

DOJ’s non-prosecution deal with Swiss firm illustrates the benefits of cooperation

The Department of Justice and Internal Revenue Service announced that a non-prosecution agreement has been entered into by the DOJ and Swiss...

Nearly three years later, Tesco continues to deal with the fallout from its accounting scandal

In September 2014, prominent British retailer Tesco PLC found itself in crisis following its announcement that it had overstated its profit...

OSC publishes draft Rules and Practice Guideline for comments

On April 20, 2017, the Ontario Securities Commission (the “OSC”) published draft Rules of Procedure and Forms and a proposed Practice...

Court of Appeal upholds decision to put the brakes on the preferability of class actions

In upholding a decision of the Supreme Court of British Columbia denying certification, the British Columbia Court of Appeal in Vaugeois v. Budget...

Wal-Mart secures dismissal of New York shareholder lawsuit

Wal-Mart Stores Inc. scored a legal victory on February 27, 2017 by securing the dismissal of one of a series of lawsuits arising from bribery...

Supreme Court of Canada clarifies the remedy of rectification in Canadian tax cases

On December 9, 2016, the Supreme Court of Canada released two much-awaited decisions in Fairmont and in PJC that clarified the scope of the remedy...