The self regulatory organization for mutual fund dealers, the Mutual Fund Dealers Association of Canada ("MFDA"), made an interesting decision on May 8, 2012 on a motion by a branch manager to strike out a regulatory proceeding arising from allegations that he failed to adequately monitor and report the wrongful activities of an insurance salesperson [...]

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In  a decision released in February, Ontario Superior Court Justice J. B. Shaughnessy certified a class action against mutual fund dealer Investia Financial Services Incorporated, its franchisee, Money Concepts (Barrie), and two of its former registered salespersons, David Karas and James Stephenson, relating to allegedly improper leveraging strategies that were used in the purchase of [...]

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Before entering into a settlement agreement with your provincial Securities Commission, it is important to consider how such consent orders will be viewed and applied in other provinces.  In September, 2008 Patricia McLean entered into a settlement agreement with the Ontario Securities Commission; less than two years later, she was before the British Columbia Court [...]

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The Divisional Court has recently denied the Imax Corporation and certain of its directors leave to appeal a lower court decision that gave a green light to a class action lawsuit by certain of IMAX’s former shareholders.

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In the recent decision of Zeubear Investments Ltd. v. Magi Seal Corporation[1], the Court of Appeal for Ontario had the opportunity to consider the proper interpretation of a shot gun (buy-sell) provision in a shareholders agreement. Ultimately, the court concluded that, in order to obtain the benefit of such a clause, a shareholder must strictly comply with [...]

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