In early 2013, an employee of the Investment Industry Regulatory Organization of Canada, the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity in the Canadian marketplace (“IIROC”), lost an unencrypted USB drive containing confidential and personal data of approximately 50,000 customers of its dealer members (the “Security Breach”).
The Ontario Securities Commission has published Multilateral Instrument 45 – 108, which introduces a crowdfunding prospectus exemption for issuers in conjunction with a registration framework for funding portals.
The Supreme Court of Canada recently overturned a decision of the Québec Human Rights Tribunal (“Tribunal”) which found that Bombardier had discriminated against a pilot, Mr. Latif, by refusing to provide him with training on certain Bombardier aircraft after U.S. authorities denied his security clearance.
On November 5, 2015 securities regulatory authorities in Manitoba, Ontario, Quebec, New Brunswick and Nova Scotia (Participating Jurisdictions) published in final form the long awaited crowdfunding regime: Multilateral Instrument 45-108 Crowdfunding (Crowdfunding Regime) which includes a crowdfunding prospectus exemption (Crowdfunding Exemption) and a registration framework for funding portals.
The FCA has published a speech given by Mark Steward, Director of Enforcement and Market Oversight at the FCA. In his speech Mr Steward discusses culture and governance.
On November 6, 2015, US banking regulators (the Office of Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Federal Reserve Board) issued instructions (“Instructions”) for banking entities on making regulatory capital adjustments for their investments in covered funds subject to the Volcker Rule.
The Trans-Pacific Partnership’s promise of significantly enhanced trading relationships between Canada and Pacific Rim markets such as Japan, Vietnam, Malaysia and Singapore – to name just a few — will enhance the value of Canadian companies to foreign and domestic acquirors alike.
The Joint Committee of the European Supervisory Authorities has published final draft implementing technical standards (ITS) on credit assessments by External Credit Assessment Institutions (ECAIs).
As we have discussed before, the public policy rationales for enforcing arbitration agreements are arguably at odds with the policy rationales underpinning the class actions regime.
On October 5, 2015, Canada announced that it had successfully concluded negotiations with respect to the Trans-Pacific Partnership (the TPP), an ambitious free trade agreement among 12 countries: Canada, the United States, Mexico, Chile, Peru, Japan, Vietnam, Brunei, Malaysia, Singapore, Australia and New Zealand.