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Securities Litigation

REGULATORY - Securities Litigation

We have been instrumental in the development of the rules and standards to be used by the regulatory body for the securities industry in Ontario.

  • One of our partners was a member of the Osborne Committee, a blue ribbon Committee appointed by the Ontario Securities Commission in 2003 to advise on the need for structural or other changes to the Commission in light of its recently increased sanctioning powers.

  • We represented the securities dealer in Re E.A. Manning Limited v. Ontario Securities Commission (1995), 23 O.R. (3d) 257 (C.A.) in which all members of the Ontario Securities Commission appointed before a particular date were prevented from presiding at a disciplinary hearing because of apprehended bias.

  • We acted for the successful plaintiff in Ainsley Financial Corp. v. Ontario Securities Commission (1994), 21 O.R. (3d) 104 (C.A.) over the jurisdiction of the Tribunal to make policies and rules. This case led to a government-appointed task force which made recommendations, since acted upon, for sweeping amendments to the Ontario Securities Act.

  • We acted in the case that determined the federal Parliament and the provincial legislatures have concurrent jurisdiction to enact legislation relating to securities. The decision in this case would allow the Government of Canada to establish a federal securities commission with jurisdiction across Canada. Multiple Access Ltd. v McCutcheon, [1982] 2 S.C.R. 161.