Author: John Blair
Editor: David Di Paolo
Details: THE REGULATORS:Alberta Securities Commission: There is no shortage of securities regulators in Canada and one consequence of this is that a person or company may well be subject to a multitude of punishments or sanctions from different regulators should they run afoul of regulatory or statutory requirements.
The IDA: In the recent decision of Creditfinance Securities Limited, the IDA considered the obligations imposed upon members by Bylaw 19.5, namely the duty to fully cooperate with an IDA investigation.
THE COURTS: The British Columbia Court of Appeal recently released reasons in a case that is of interest to securities brokers. The underlying reasoning of the Court’s decision in Hadcock v. Georgia Pacific Securities Corp., [2006] B.C.J. No. 3065 (C.A.)
New Secondary Market Liability Regime In Alberta: Amendments to the Securities Act (Alberta) came into force on December 31, 2006 introducing statutory civil liability for secondary market disclosure.