5 February 2018By Uri Snir
It is increasingly common for Canadians to be living on their own as they enter retirement: it is a living arrangement that some plan for, while others do not. Whether single, separated, divorced or widowed, Canadians who live on their own in retirement face several challenges.
29 January 2018By Khrystina McMillan
In a decision released last Thursday, January 25, 2018, the Ontario Court of Appeal considered for the first time the definition of a “person in a special relationship with an issuer” as it applies to successive tippees who possess inside information. In Finkelstein v Ontario Securities Commission, the Court of Appeal upheld findings of liability and significant sanctions against Howard Miller and Francis Cheng – the final two recipients in a five-person long chain of successive tippees – even though neither Miller nor Cheng knew that the source of the information was an insider. According to the Court of Appeal, however, they ought to have known that they were acting on inside information.
22 January 2018By Shakaira John
15 January 2018By Uri Snir
19 December 2017By Morgan Westgate
In what appears to be the last judgment written by Chief Justice McLachlin before her retirement this past weekend, the Supreme Court of Canada considered the scope of the doctrine of proprietary estoppel. The Cowper-Smith v. Morgan decision considers proprietary estoppel in the context of an acrimonious estate dispute, and may have significant implications in respect of equitable proprietary claims.
11 December 2017By Uri Snir
The Ontario Securities Commission (“OSC”) recently released a research study on the investment habits of millennials, entitled “Missing Out: Millennials and the Markets” (the “Study”). The Study was conducted online between May 5th and 12th, 2017 among a representative sample of 1,585 Ontarians, 18 to 36 years old. It finds that 80% of millennials are saving, but less than 50% are investing.
4 December 2017By Khrystina McMillan
28 November 2017By Shakaira John
Undisclosed fees charged by financial institutions and other perceived “deep pocket” organizations have attracted class actions across Canada and the U.S. throughout the past few years. Continuing this trend, the British Columbia Court of Appeal recently released a decision in Finkel v. Coast Capital Savings Credit Union upholding the certification of another class action for undisclosed fees.
20 November 2017By Khrystina McMillan
and Shakaira John
According to this year’s Annual Report by the Ontario Securities Commission (“OSC”), the new whistleblower program has enjoyed some success since its inception last year. In order to maintain this momentum, the OSC has prioritized raising awareness of the program and whistleblower protections in particular in the coming year. However, not everyone thinks the whistleblower protections are as good as they sound.
13 November 2017By Uri Snir
On October 31, 2017, the Ontario Securities Commission (the “OSC”) adopted the Ontario Securities Commission Rules of Procedure and Forms (the “Rules”) and the Practice Guideline (the “Guideline”).