On September 19, 2008, the Supreme Court of Canada refused leave to appeal the approval of an all-encompassing restructuring plan for the Canadian market in Asset-Backed Commercial Paper and put an end to all legal challenges relating to what is now appearing to be merely the first Canadian chapter in a financial crisis that has since swept the globe.

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Two recent OSC decisions have sided against securities regulators on issues of documentary disclosure. In one case, an OSC panel found that there had been too much disclosure by OSC staff and, in another case, there had not been enough disclosure.

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There are few, if any, legal issues affecting the investment industry that are more cloudy and less certain than whether investment firm clients belong to the investment advisor or to the investment firm. And there are arguably few issues more important.  An investment firm’s financial bottom line is tied to the number of clients and [...]

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There are few, if any, legal issues affecting the investment industry that are more cloudy and less certain than whether investment firm clients belong to the investment advisor or to the investment firm. And there are arguably few issues more important. This question has been the subject of several widely divergent – and even confusing – court decisions on the issue over the past few years.

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CONTRIBUTORS: KEN DEKKER, MICHAEL OSBORNE, MICHAEL BINETTI,ADAM WYGODNY,AND HOOMAN ZARGARZADEH CANADA’S TOP COURT DISMISSES SHAREHOLDER CLASS ACTION AGAINST DANIER LEATHER In October, Canada’s Supreme Court upheld the Ontario Court of Appeal’s decision overturning Canada’s first-ever securities class action judgment in favour of investors relating to alleged misrepresentations on an initial public offering. … and more. [...]

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