Controversy as IIROC proposes merger with MFDA
In a publication released this month titled Improving Self-Regulation for Canadians, the Investment Industry Regulatory Organization of Canada (“IIROC”) has, among other things, proposed a merger of itself with another self-regulatory organization, the Mutual Fund Dealers’ Association of Canada (“MFDA”) – a measure it promises will offer “one stop shopping” for Canadian investors and a more streamlined investment industry and regulatory regime. The MFDA was quick to respond. Its President, Mark Gordon, released a statement on June 9th that is sharply critical of this merger proposal and states, among other things: “In reading IIROC’s position paper, it is clear that ... [more] Full article
Failure to Disclose Fees on Investment Accounts can be a Breach of Fiduciary Duty
On February 28, 2020, a judge of the Ontario Superior Court granted judgment in a class action and awarded an accounting of the profits realized by three Bank of Montreal ... [more] Full article
Alberta Court rules that an Alberta Securities Commission administrative penalty can survive bankruptcy
On January 17, 2020, Justice Romaine of the Alberta Court of Queen’s Bench released a potentially monumental decision in Alberta Securities Commission v Hennig. The decision arose out of an ... [more] Full article
Securities Regulatory Contributors
Karen Bernofsky
Karen Bernofsky is a strong advocate with a focus on commercial litigation and delivering cost-effective solutions. She advises and represents clients in a broad range of complex insurance matters, construction matters and commercial disputes, including breach of contract and invoice disputes. Karen is also a skilled negotiator with a proven track record in effective mediation advocacy. She has appeared before all levels of courts and administrative tribunals in Ontario as well as before the Federal Court of Canada.
Kenneth A. Dekker
Kenneth Dekker, a partner of the firm, is a successful trial and appellate lawyer who is valued by his clients as a resourceful and practical litigation counsel. Over more than two decades, Ken has litigated noteworthy cases in a range of fields that include class action defence, securities and broker-dealer litigation and regulatory defence, corporate and shareholder disputes (including oppression and winding up cases), defamation, civil fraud litigation, disputes over contracts, injunctions, professional liability litigation, employment litigation and cross-border litigation issues. Ken has appeared before all levels of courts in Ontario, including the Ontario Court of Justice, the Superior Court of Justice, the Divisional Court and the Court of Appeal for Ontario, as well as before the Supreme Court of Canada. Ken also represents and advises clients in regulatory matters before the Investment Industry Organization of Canada (IIROC), the Mutual Fund Dealers Association of Canada (MFDA) and the Ontario Securities Commission (OSC). Ken has been recognized for Corporate and Commercial Litigation by Best Lawyers of Canada and has been given the highest available rating of AV, or pre-eminent, by his peers on Martindale-Hubbell.
Jacob Millar
Jacob Millar is a versatile lawyer who as a law student and articling student has gained experience in civil and criminal litigation and administrative matters in Ontario, Nova Scotia and the U.K. As an associate with the firm, Jacob represents and advises clients in all manner of commercial disputes and competition law matters.
