On April 22, 2022, the Supreme Court of Canada (“SCC”) granted leave to an application for appeal in the Quebec Court of Appeal’s (“QCCA”) decision in Langford Sharp v Autorité des marchés financiers 2021 QCCA 1364 (“Langford”). The case concerns the appropriate standard of review when assessing the decisions of financial regulators and the role […]
Taxpayers try to characterize their expenses, gains, and losses in a way that benefits them. Thus, the characterization of expenses, gains, or losses as on account income or capital has always been a major theme of tax law disputes. One such dispute was addressed in MacDonald v. Canada, 2020 SCC 6 [MacDonald], a decision by […]
Alexandra Murray is currently a JD student at Osgoode Hall Law School. Prior to law school, she earned a degree in economics and worked in the mutual fund industry. Alexandra will be completing her articles at a firm in Toronto with an interest in corporate and securities law. On January 25th, the Ontario Court of […]
On July 13, 2017, the Supreme Court of Canada released Wilson v Alharayeri, 2017 SCC 39 [Wilson], in which it unanimously reaffirmed that a corporation’s directors, as opposed to the corporation, may be personally liable in an oppressive action. This provided much-needed clarity on the scope of potential personal liability of directors and officers under […]
In 2009, fully oblivious to the housing market collapse in the United States, I thought it a good idea to get into the Toronto condo market. With down payment money borrowed from my parents, I signed an Agreement of Purchase and Sale in a development project that promised to create a whole new neighbourhood on […]
Personal Health Information Protection in Ontario We live in a time where we are constantly bombarded with information. At the same time, more and more institutions and businesses are keeping track of our personal data. Sometimes this information is shared inappropriately and some other times, where it should be shared, it is not. In Ontario, […]
In Walton v Alberta (Securities Commission), 2014 ABCA 273, the Alberta Court of Appeal (“ABCA”) was asked to assess an Alberta Securities Commission (“ASC”) decision. The ABCA’s rejection of some of the ASC’s conclusions demonstrates the complications security regulators face when applying the law of insider trading and its related provisions.
Last Wednesday, the United States Supreme Court heard oral arguments for Halliburton Co v Erica P. John Fund, thereby revisiting the contentious “fraud-on-the-market” principle adopted in the 1988 case of Basic Inc v Levinson, 485 US 224 (1988). The principle works as follows: open and developed securities markets are efficient and all relevant information about […]
Introduction In order for a class action to be certified, a judge must be satisfied that a class action is the “preferable” way of bringing the claims as against other alternatives. In Hollick v Toronto (City), [2001] 3 SCR 158, McLachlin CJ wrote that this preferability analysis must focus on the three “advantages” of class […]
Last week, the Ontario Court of Appeal ("ONCA") released its decision in Rowan v Ontario Securities Commission 2012 ONCA 208 [Rowan]. In Rowan, the chief issue was whether s. 127(9) of the Ontario Securites Act, RSO 1990, c S.5 [the Act], which allows the Ontario Securities Commission ("OSC") to order administrative monetary penalties ("AMPs") of up […]