20 February 2018
By Shakaira JohnIn an earlier post, we discussed the Ontario Securities Commission’s (“OSC”) Whistleblower Program under OSC Policy 15-601 and, in particular, the OSC’s focus on promoting awareness of whistleblower protections despite criticisms of their efficacy. Recently, legislative amendments gave teeth to whistleblower protections by creating a civil cause of action for reprisals, potentially resolving one of the criticisms of the program (highlighted in our earlier post).
12 February 2018
By Khrystina McMillanI think I was in high school when I first heard the story about a contest held by NASA offering a hefty cash prize to anyone who could invent an anti-gravity pen for use in outer space. While many of the country’s greatest minds set out to design such a “space pen”, pouring millions of dollars and countless hours into the task, according to legend the contest was won by a young child who simply wrote: “Why not use a pencil?”
5 February 2018
By Uri SnirIt 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 2018
By Khrystina McMillanIn 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 2018
By Shakaira John19 December 2017
By Morgan WestgateIn 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 2017
By Uri SnirThe 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 2017
By Khrystina McMillan28 November 2017
By Shakaira JohnUndisclosed 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 2017
By Khrystina McMillanand 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.