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On April 30, 2010, new insider reporting rules are scheduled to take effect, as the Canadian Securities Administrators (the “CSA”) will be adopting a new reporting regime for insiders of reporting issuers in Canada (the “New Regime”)1. The New Regime will...
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Investment advisors cannot escape disciplinary sanctions by resigning, Court of Appeal says. But the new ruling may lead the way to further contesting of large fines. All-Star Basketball player Kevin Garrett is right. Quitting is not an option. After many...
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Canada’s first criminal conviction for illegal insider trading occurred on November 6, 2009, when Justice Robert Bigelow of the Ontario Court of Justice accepted a guilty plea from Stan Grmovsek. Sentencing was delayed until January 7, 2010 to facilitate the...
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Introduction The Investment Industry Regulatory Organization of Canada (IIROC) is seeking comment with respect to how firms should deal, if at all, in “non-arm’s length” investment products. The regulator has issued a draft Notice to its Members which would set...
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The classic definition of “fair market value” – the price a willing buyer would pay a willing seller if neither were under any compulsion to buy or sell – is deceptively simple and hence widely appealing. In securities trading, however,...
