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Join the Securities Litigation and Enforcement Group on LinkedInA Canadian whistleblower program targeting financial crime pays off | Whistleblower Protection Blog
Three Canadian whistleblowers have been awarded more than $7 million, the first payment of its kind by the Ontario Securities Commission (OSC). “These individuals voluntarily provided high quality, timely, specific and credible information, which helped advance enforcement actions resulting in monetary payments to the OSC,” according to a statement from the Canadian agency. via A […]
ISS Releases List of Top 25 Canadian Securities Class Action Settlements | The D&O Diary
The report is based on a database of 172 Canadian securities class action lawsuits filed since 1997. Of the 172 cases, 91 have settled, 60 are pending, and 21 have been dismissed. From the 91 settlements, the report’s authors have culled the 25 largest. All of the settlement amounts are reported in Canadian dollars. The […]
Ex-Staffer at Top Canadian Firm Inks Insider Trading Deal | The American Lawyer
Donna Hutchinson, a former legal assistant at Davies Ward Phillips & Vineberg in Toronto, was accused late last year of tipping off individuals about deals that the leading Canadian firm was working on for corporate clients. Last week, Hutchinson reached a settlement with the Ontario Securities Commission, a regulatory agency based in Toronto. via Ex-Staffer […]
Former legal assistant at prominent Bay Street law firm at centre of insider tripping and trading case | Financial Post
A former legal assistant at prominent Bay Street law firm Davies Ward Phillips & Vineberg LLP has been caught up in accusations of insider tipping and trading. The Ontario Securities Commission accused Donna Hutchinson, on Friday, of passing on “material, non-public information” she learned about pending corporate transactions as a result of her employment at […]
‘Most serious’ financial crime targeted as RCMP and Alberta Securities Commission team up – Calgary – CBC News
A new partnership has been created to crack down on white collar crime in Alberta, the Alberta Securities Commission and the RCMP have announced. The Joint Serious Offences Team (JSOT) will help tackle the most serious securities offences — such as repeat offenders, serious fraud, and breaches of court orders and bans, police and ASC officials say. via […]
OSC set to launch whistleblower program in summer 2016 | Compliance Week
Maureen Jensen, chairman of the Ontario Securities Commission, stated this week that the OSC’s new whistleblower office is expected to receive final approval in June 2016 and begin operations in “early summer” 2016. According to The Globe and Mail, the OSC will be the first securities regulator in Canada to adopt a whistleblower program. via OSC […]
Allen Stanford’s house of cards: How TD banked the 2nd-largest Ponzi scheme in U.S. history | Globalnews.ca
To pull off that massive scam, Stanford needed help and he found it in the most unlikely of places – the Toronto Dominion Bank in Canada. TD banked Stanford and his Antiguan bank for 18 years, starting in 1991, helping him move money from his clients in the U.S. and South America – to accounts […]
Innocent Attorney Tries to Clear Name He Shares With Securities Fraudster | Compliance Week
Itamar Cohen, age 52, of Thornhill in Ontario, Canada recently pleaded guilty in New Jersey to a $17 million stock fraud. This has created considerable stress and drama for Itamar Cohen, age 53, of Thornhill in Ontario, Canada — an innocent attorney who is the victim of this unfortunate coincidence. via Innocent Attorney Tries to […]
Fairfax’s Prem Watsa faces probe from Quebec regulator over insider trading – Brandon Sun
Billionaire investor Prem Watsa is facing an investigation by Quebec’s securities regulator over possible insider trading or tipping. Fairfax Financial disclosed the information in filings for its latest financial results. The investigation involves Watsa, who owns the investment firm, and the company’s president Paul Rivett. via Fairfax’s Prem Watsa faces probe from Quebec regulator over […]
Why Joe Oliver’s ‘nation-building’ securities regulator could lead to big provincial divide — Financial Post
With the inclusion of Saskatchewan and New Brunswick — joining Ontario and British Columbia — in the Conservative government’s grand scheme to bind together the country’s 13 separate regulatory bodies, those remaining outside the federal fold — Quebec and Alberta, in particular — could consider joining forces. via Why Joe Oliver’s ‘nation-building’ securities regulator could […]