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On December 2, 2014, the OECD published its Foreign Bribery Report. It reviews the first 15 years of the OECD Convention on Combating Bribery of Foreign Public Officials.

The Canadian government has recently introduced Bill S-14, entitled the Fighting Foreign Corruption Act, in an effort to revamp the Corruption of Foreign Public Officials Act.

In which part of the world is the risk of anti-corruption enforcement the highest? Law360 reported last week that, according to a report by Freshfields Bruckhaus Deringer LLP, Asia appears to be the focus of United States ("US") regulators’ Foreign Corrupt Practices Act crackdown.

The Securities Act (Ontario) is expected to be amended to include a prohibition on recommending the purchase or sale of securities of an issuer where the person or company making the recommendation is in a "special relationship" with the issuer.

Concerns about identity theft have resulted in recent amendments to Ontario’s Consumer Reporting Act, which came into force on January 1, 2008. In certain situations, credit grantors will be required to take additional steps prior to completing a transaction with an individual. The amendments allow for an individual to have a ‘fraud alert’ notice put in a credit file that a consumer reporting agency maintains about him or her.

On March 3, 2014, the federal department of Public Works and Government Services introduced significant amendments to its Integrity Provisions, which govern all government procurement.

Canadian businessman John Bennett appeared in a US court last week after his extradition to the US to face bid-rigging, fraud, conspiracy, and kick-back charges.

In Mallat c. Autorité des marchés financiers de France, Justice Carol Cohen of the Superior Court of Quebec clarified how foreign authorities can obtain the help of Quebec's financial regulator ...

This week, the Federal Government tabled Bill S-14 in the Senate to amend the Corruption of Foreign Public Officials Act.

On August 25, 2015, the participating jurisdictions of the proposed Cooperative Capital Markets System published for comment a revised consultation draft of the uniform provincial/territorial Capital Markets Act and draft initial regulations.

Over the past few years, Canadian companies have become increasingly aware of potential civil and criminal liability arising from improper business practices abroad.

On September 19, 2014, the Bureau de décision et de révision granted a request by the AMF for an administrative penalty of $9,000 against Jacques Gauthier.

It is well-established that Canadian law shields directors and officers from personal liability for corporate acts, except in circumstances that justify piercing the corporate veil. In CHU de Québec-Université Laval v. Tree of Knowledge International Corp., the Ontario Court of Appeal confirmed that fraudulent conduct is also a basis for imposing personal liability on officers and directors of a corporation, even where the test for piercing the corporate veil is not met.

In a recent decision, the Ontario Court of ​Appeal overturned a lower court decision that dismissed an action on a summary judgment motion.

This decision could indicate a trend by the OSC to cast a wider net of circumstances it views should be subject to insider trading prohibitions even where there has been no technical contravention of the rules or regulations.

A key addition has been made to the Policy since it was released for comment.

In October 2016, the U.S. SEC announced Ernst & Young LLP agreed to pay $11.8 million to settle SEC allegations related to failed audits at oil services company Weatherford International PLC.

The Supreme Court of Canada has refused to hear an appeal from the Alberta Securities Commission in an insider trading case.