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The Statement of Priorities will form the core of FSRA's Annual Business Plan which will be submitted to the Minister of Finance for approval.

Justice Perell of the Ontario Superior Court of Justice has dismissed a motion by a proposed class to certify a class action claiming that a number of mutual fund companies failed to stop market timing in the mutual funds they managed.

In Sharma v. Timminco Limited Justice Perell heard two motions from two law firms, each of which represent different representative plaintiffs in separate class proceedings dealing with the same subject matter.

On December 2, 2009, a panel of the Commission heard submissions "in camera" on a motion for an order under s. 17(1) of the "Securities Act" (the "Act"), permitting a foreign securities regulator to disclose to a foreign criminal law enforcement agency certain compelled documents relating to two account holders of a Bank (the Bank was not named in the decision).

An Underwriter (the "Underwriter") has agreed to pay $3.3 million in a settlement with the Ontario Securities Commission in connection with the initial public offering of subprime mortgage company FMF Capital Group Inc. (FMF).

On February 29, 2024, Alberta's Minister of Finance announced Alberta's 2024 Budget, and in connection with this announcement...

When lenders consider their real property security options, their analysis often goes beyond simply taking a mortgage from a debtor who owns real estate.

In our last issue of the Business Law Quarterly, we summarized the findings of a Canadian Institute of Chartered Accountants (CICA) report dealing with diversity among boards of directors and emphasized the strategic importance for all organizations to build diversity into their organizations.

The Canadian Securities Administrators (CSA) have recently released, under separate notices, the results of their first certification compliance review and their annual continuous disclosure (CD) review program for the fiscal year ended March 31, 2009.

In Ontario, the concept of super priority liens refers to certain types of liens that take precedence over other claims on a property, even rights arising from a mortgage.

The Toronto Stock Exchange has announced that, effective November 24, 2009, a listed issuer will be required to obtain the approval of its securityholders when the securities proposed to be issued as consideration for the acquisition of a target would increase the number of the listed issuer’s outstanding securities by 25% or more (on a non-diluted basis), regardless of whether the target is closely or widely-held.

The Government has justified this proposal as a way of encouraging all parties involved in insured mortgage loans to appropriately assess and price risk in the housing market.

On May 1, 2009, the Federal Reserve Bank of New York (NY Federal Reserve) announced the expansion of its Term Asset-Backed Securities Loan Facility (TALF) to include commercial mortgage-backed securities (CMBS) and securities backed by insurance premium loans.

On November 16, 2011, the Securities and Exchange Commission ("SEC") issued an order extending the temporary exemption for rating agencies from the requirements for Rule 17g-5 for certain non-U.S. transactions for a further one-year period, expiring December 2, 2012.

Earlier today, the Ontario Securities Commission released the findings of its disclosure review related to National Instrument 81-107 Independent Review Committee for Investment Funds. NI 81-107 requires that an investment fund that is a reporting issuer have an independent review committee (IRC) to oversee decisions involving conflicts of interest faced by the fund manager in the operation of the fund.

Mortgage fraud is a common problem across Canada which increased dramatically during the pandemic as a result of the technological changes ushered in by it. As the spread of COVID-19...