Privilege Protocols As A Legal Imperative: Implications Of Lamarche V. British Columbia (Securities Commission) For Regulators

The British Columbia Court of Appeal's decision in Lamarche v. British Columbia (Securities Commission) highlights the critical importance of regulators protecting privileged documents during an investigation. The judgment reads as a cautionary tale: regulators that pursue records without adequate privilege-protection protocols in place may face civil liability.

Background

As part of an investigation into alleged unregistered trading and advising, the British Columbia Securities Commission (the Commission) obtained more than three years of email records belonging to Jean Andrew Lamarche. The Commission requested and obtained these records from Shaw Communications Inc., exercising its broad powers under the Securities Act to compel document production.