Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 05 OCTOBER 2005

What are You Doing to get Ready for Civil Liability in the Secondary Market?

Osler, Hoskin & Harcourt LLP
Explore more from Osler, Hoskin & Harcourt LLP

The Ontario government has proclaimed amendments to the Ontario Securities Act to create new causes of action for disgruntled investors in the secondary market with respect to misleading, insufficient or late corporate disclosure in Ontario. The amendments will become effective on December 31, 2005. As there is currently no statutory civil liability for deficient secondary market disclosure, these amendments represent a fundamental change to the existing law in Ontario, and could expose issuer

CanadaLitigation, Mediation & Arbitration
Author LinkedIn connections

Article by Jean M. Fraser, Larry P. Lowenstein, Andrew MacDougall, Douglas R. Marshall, Robert M. Yalden and Jacqueline R. Code

The Ontario government has proclaimed amendments to the Ontario Securities Act to create new causes of action for disgruntled investors in the secondary market with respect to misleading, insufficient or late corporate disclosure in Ontario.  The amendments will become effective on December 31, 2005.  As there is currently no statutory civil liability for deficient secondary market disclosure, these amendments represent a fundamental change to the existing law in Ontario, and could expose issuers and others to increased litigation, including class proceedings.  In some instances, the new provisions embody stricter standards than are currently imposed under U.S. law.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

BLG At The SCC – What’s Coming In The Supreme Court’s Fall 2026 Sitting Schedule

The Supreme Court of Canada held its second annual ceremony marking the opening of the judicial year at its temporary home in the West Memorial Building, with Chief Justice highlighting the Court's increased caseload and architectural features. What significant constitutional and legal challenges will the Court address in its fall 2026 session, including cases on firearm regulations, Crown immunity, and vicarious liability?
CanadaLitigation, Mediation & Arbitration
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
Article

Ontario Court Bifurcates Class Action As Practical Approach To Onerous Discovery Demands

An Ontario court granted a motion to bifurcate liability and damages stages in a class action alleging $500 million in hidden fees, finding that extensive documentary production requests were disproportionate and not relevant to determining liability. The decision addresses proportionality concerns in class actions where defendants face onerous discovery demands spanning millions of transactions over a decade.
CanadaLitigation, Mediation & Arbitration
Bennett Jones LLP
Bennett Jones LLP
Article

The Supreme Court Of Canada Reviews Québec’s Bill 21

Québec's Bill 21, enacted in 2019, bans public sector workers from wearing religious symbols and is shielded from most Charter challenges by the notwithstanding clause. The Supreme Court of Canada is now reviewing this controversial law, with a ruling expected as early as November 2026 or later in 2027. Former Minister of Justice Arif Virani discusses the court's struggle to balance competing constitutional principles in this landmark case.
CanadaLitigation, Mediation & Arbitration
Torys
Torys
Article

The Coldcard Exploit: Why Victims May Have Two Routes To Recovery

A five-year-old firmware defect in Coldcard hardware wallets has enabled attackers to systematically drain an estimated $116 million in Bitcoin from over 5,200 victims since July 2026. This unprecedented exploit raises critical questions about manufacturer liability and creates two distinct legal pathways for recovery: blockchain tracing against the perpetrators and potential litigation against Canadian manufacturer Coinkite for product defects that undermined the fundamental security promise of devices mar
CanadaLitigation, Mediation & Arbitration
WeirFoulds LLP
WeirFoulds LLP
Article

Supreme Court Strikes Down Privative Clause: What Democracy Watch v Canada Means For Administrative Decision-makers

The Supreme Court of Canada has unanimously struck down a privative clause in the Conflict of Interest Act that attempted to bar judicial review of the Ethics Commissioner's decisions. The ruling establishes that the Constitution guarantees a minimum of legality review over all administrative decisions, with implications extending to labour relations, workers' compensation, and immigration legislation containing similar clauses.
CanadaLitigation, Mediation & Arbitration
Miller Thomson
Miller Thomson
Article

The Trade War Tit-for-tat Continues: United States Responds To Canada’s Retaliatory Surtaxes With New Tariffs And Import Prohibitions

Canada and the United States have escalated their trade war with new retaliatory tariffs and import prohibitions taking effect in September 2026. What specific goods are now subject to these measures, and how do the complex layers of tariffs interact to impact cross-border commerce? This comprehensive analysis breaks down the latest developments in the deteriorating Canada-U.S. economic relationship.
CanadaInternational Law
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Article

Canadian Prime Minister Announces ‘Productivity Mega Deduction’

Canada's new Productivity Mega Deduction permanently provides immediate expensing for a wide range of depreciable property and Canadian development expenses, dramatically expanding the scope beyond the previously announced Productivity Super Deduction. The measure aims to reduce Canada's marginal effective tax rate on new business investment to 6.4%, positioning it as the lowest among major economies and less than half the U.S. rate.
CanadaTax
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Article

Elbows Back Up: U.S. Section 338 Tariffs, Canada’s Retaliatory Surtaxes And The Current Tariff Landscape

As Canada and the United States escalate their trade dispute with new retaliatory tariffs, businesses face mounting compliance challenges across multiple sectors. This analysis examines the comprehensive tariff landscape affecting bilateral trade, including Canada's September 8, 2026 surtaxes on U.S. imports and the corresponding American section 338 tariffs, detailing rates, exemptions, and the legal frameworks governing these measures.
CanadaInternational Law
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP