Crackdown on the Gatekeepers

There are two major cases in Canada regarding liability of the “gatekeepers”. Here, is Castor Holdings, and here is Hercules. Hercules is one of the most cited cases in Canadian law, and it significantly reduced the professional liability risk faced by the gatekeepers. Castor is a new Quebec court decision, but if it stands up...
Posted: 12/5/2012 9:25:45 AM by MSI

Investor Protection

Exempt Market Dealer: Private Issuer and the Accredited Investor There are changes afoot. The issues include, but are not limited to, proposed amendments to National Instrument 45-106 and its definitions of Private Issuer and Accredited Investor Exemptions; and Trapeze Asset Management. The Canadian Securities Administrators (CSA) completed pu...
Posted: 5/16/2012 4:30:16 PM by MSI

Fund Management Risk and Class Actions in Canada

This recent decision by the Court of Appeal For Ontario will (or should) have fund managers and other regulated professionals on the edge of their seats. On January 27, 2012, in Fischer v. IG Investment Management Ltd., 2012 ONCA 47, here, Justices Winkler C.J.O., Epstein J.A. and Pardu J., determined that both lower courts erred in their consid...
Posted: 2/16/2012 4:27:10 PM by MSI

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