Canada’s Ontario Securities Commission (OSC) has recognized that Bitcoin is a legitimate market, trading in millions of dollars per day in a host of exchanges. For that very reason, it has reversed a prior decision and given a green light for a Bitcoin Fund IPO, which will offer participations to retail investors. With this simple…
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The Ontario Securities Commission (OSC) has published “Frequently Asked Questions About Proceedings” on its website. This information is intended to assist respondents, including self-represented parties as well as others involved in proceedings before the Ontario Securities Commission tribunal by answering frequently asked questions and providing a general overview of procedures that can be expected in…
Read moreThe Ontario Securities Commission (OSC), in conjunction with securities regulators from the North American Securities Administrators Association (NASAA), has announced that it has recently participated in an initiative to raise awareness about fraudulent and unregistered cryptocurrency-related investment schemes. As part of “Operation Cryptosweep,” the OSC joined forces with more than 40 provincial and state regulators…
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The Ontario Securities Commission (OSC) announced that fee rates under OSC Rule 13-502 Fees and OSC Rule 13-503 (Commodity Futures Act) Fees will remain unchanged for a period of two years, starting April 1, 2018. The OSC is funded by fees from market participants and typically re-evaluates its fee levels every three years. Rates were…
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The Ontario Securities Commission (OSC) announced new members of its Fintech Advisory Committee (FAC), which advises OSC staff on developments and trends in the fintech space, as well as the unique challenges encountered by innovative businesses in the securities industry. This year’s FAC includes key players from a broad spectrum of the fintech community, ranging…
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The Ontario Securities Commission (OSC) announced today that Marc and Helene Brunet of Chesterville, Ontario, have been charged with fraud and related offences under the Securities Act (Ontario) following a lengthy investigation by the OSC’s Joint Serious Offences Team (JSOT). Mr. Brunet and Mrs. Brunet have both been charged with the following offences under the…
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On January 25, 2018, the Ontario Court of Appeal announced that it has upheld the Ontario Securities Commission (OSC’s) Reasons for Decision on the Merits dated March 24, 2015 and its Reasons for Decision on Sanctions and Costs dated August 24, 2015 with respect to Howard Miller and Francis Cheng. The Court’s decision was the…
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The Ontario Securities Commission (OSC) announced that has adopted OSC Rule 72-503 - Distributions Outside Canada, including Form 72-503F Report of Distributions Outside Canada and Companion Policy 72-503 Distributions Outside Canada. A consequential amendment to OSC Rule 11-501 Electronic Delivery of Documents To The Ontario Securities Commission has also been adopted. The Final Rule adoption…
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Ontario Securities Commission (OSC) Chair Maureen Jensen has announced the appointment of Tim Moseley as a Vice-Chair of the OSC, effective November 29, 2017 for a two year term. Prior to his appointment, Tim served as an OSC Commissioner and as Chair of the Adjudicative Committee. Tim brings a unique set of skills to the…
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Canadian financial regulator The Ontario Securities Commission (OSC) has denied a request by its own staff to suspend activities of Omega Securities Inc., ahead of a final hearing on whether or not Omega has been afoul of Canadian securities law. Omega Securities is the operator of two lit marketplaces: Omega ATS and Lynx ATS. These…
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