Ontario Securities Commission

Li-Cycle Adopts Limited Duration Shareholder Rights Plan

Retrieved on: 
Wednesday, November 1, 2023
Recycling, Mining, Minerals, Environment, Technology, Batteries, Natural Resources, Green Technology, NYSE, Ontario Securities Commission, Shareholder rights plan, Bangladesh Securities and Exchange Commission, LLP, PAETEC Holding Corp., Risk management, Security (finance)

Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), a leading global lithium-ion battery resource recovery company, today announced that its Board of Directors (the “Board”) has adopted a limited duration shareholder rights plan (the “Rights Plan”).

Key Points: 
  • Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), a leading global lithium-ion battery resource recovery company, today announced that its Board of Directors (the “Board”) has adopted a limited duration shareholder rights plan (the “Rights Plan”).
  • The Rights Plan also helps ensure that the Board has sufficient time to make informed, deliberate decisions and take actions that are in the best interests of Li-Cycle.
  • The Rights Plan applies equally to all current and future shareholders of Li-Cycle.
  • The Rights Plan will operate similarly to rights plans adopted by other companies publicly listed in the United States.

Court appoints receiver to manage affairs of Traynor Ridge Capital Inc.

Retrieved on: 
Friday, November 3, 2023
Ontario Superior Court of Justice, OSC, Justice, W.F. Young, Inc., Ontario Securities Commission, Person, Security (finance), Cryptocurrency, Traynor

TORONTO, Nov. 3, 2023 /CNW/ - The Ontario Superior Court of Justice made an order today appointing Ernst & Young Inc. as receiver and manager over the affairs of Traynor Ridge Capital Inc. ("Traynor Ridge Capital") and the funds it manages.

Key Points: 
  • TORONTO, Nov. 3, 2023 /CNW/ - The Ontario Superior Court of Justice made an order today appointing Ernst & Young Inc. as receiver and manager over the affairs of Traynor Ridge Capital Inc. ("Traynor Ridge Capital") and the funds it manages.
  • On October 30, 2023, the OSC issued a temporary order against Traynor Ridge Capital that imposes terms and conditions on its registration and prohibits all trading in any securities by or of the firm and in three of the funds it manages.
  • Clients of Traynor Ridge Capital with questions about the receivership will be able to visit www.ey.com/ca/traynorridge for additional information once the website is established.
  • The OSC acknowledges the assistance and support of the Canadian Investment Regulatory Organization in this matter.

OSC seeks approval of settlement with RBC for alleged books and records failures

Retrieved on: 
Thursday, November 2, 2023
Bank statement, OSC, Ontario Securities Commission, Person, RBC, Royal Bank of Canada, Software, Book, Record, Cryptocurrency

"The books and records requirements are a critical component of our compliance and enforcement work, and longstanding failures such as these undermine investor confidence in Ontario's capital markets."

Key Points: 
  • "The books and records requirements are a critical component of our compliance and enforcement work, and longstanding failures such as these undermine investor confidence in Ontario's capital markets."
  • The OSC alleges that, from 2008 through 2020, RBC's books and records and internal accounting controls and processes were deficient.
  • It is alleged that RBC incorrectly recorded certain costs related to internally developed software projects as intangible assets when they should have been expensed.
  • The OSC does not allege, and has found no evidence of, dishonest or abusive conduct by RBC.

DeFi Technologies Provides AUM Update - Approximately C$259 Million, Closing of $3 Million Private Placement and Other Corporate Updates

Retrieved on: 
Wednesday, November 1, 2023
Ethereum, Bitcoin, Newton, Decentralized finance, Ontario Securities Commission, Web3, Finance Secretary (India), ETP, Multilateral, Minority, MI, OTC, Acquisition, Note, AUM, Digital, Indian stock exchange, Ecosystem, Partnership, NGM, The Company, VDSL, XETRA, EUR, NEO, Conversion, EU, Cryptocurrency, Security (finance)

AUM grew 40% to approximately C$259 million as of October 30, 2023, up from C$183 million as of June 30, 2023.

Key Points: 
  • AUM grew 40% to approximately C$259 million as of October 30, 2023, up from C$183 million as of June 30, 2023.
  • DeFi Technologies Inc. and Neuronomics AG entered into a landmark Joint Venture Agreement to develop AI-based digital asset exchange traded products, actively managed certificates, and asset-backed tokens for global distribution.
  • Valour Inc. entered into a collaboration with Bitcoin Suisse AG, the Swiss crypto-finance and technology pioneer.
  • The Company also announces that William C. Steers has resigned as a member of the board of directors effective immediately to pursue other opportunities.

OSC launches Investing Academy during Financial Literacy Month

Retrieved on: 
Tuesday, October 31, 2023
Knowledge, Accessibility for Ontarians with Disabilities Act, 2005, Ontario Securities Commission, Main Street, Ontario Provincial Police, Person, Fraud, Law enforcement, Artificial intelligence, OSC, Community, Future, Bay Street, Financial Literacy Month, Cryptocurrency, Private investigator

Investing Academy by GetSmarterAboutMoney.ca has free courses designed to help people take action in ensuring a safe and secure financial future.

Key Points: 
  • Investing Academy by GetSmarterAboutMoney.ca has free courses designed to help people take action in ensuring a safe and secure financial future.
  • "We're pleased to introduce our suite of investor education courses during Financial Literacy Month," said Tyler Fleming, Director of the Investor Office at the OSC.
  • "Investing Academy is an important pilot education initiative that encourages people to gain knowledge and put it into action, on top of many other planned activities and resources for Financial Literacy Month."
  • Managing your money in a changing world is the theme of this year's Financial Literacy Month.

OSC issues temporary cease trade order against Traynor Ridge Capital, imposes terms and conditions on registration

Retrieved on: 
Monday, October 30, 2023
OSC, Ontario Securities Commission, Person, Security (finance)

TORONTO, Oct. 30, 2023 /CNW/ - The Ontario Securities Commission (OSC) today issued a temporary order against Traynor Ridge Capital Inc., an Ontario registrant that manages three prospectus-exempt funds (the TR1 Funds).

Key Points: 
  • TORONTO, Oct. 30, 2023 /CNW/ - The Ontario Securities Commission (OSC) today issued a temporary order against Traynor Ridge Capital Inc., an Ontario registrant that manages three prospectus-exempt funds (the TR1 Funds).
  • The OSC is investigating the financial condition of the firm and the events surrounding a series of failed trades.
  • The temporary order issued today imposes terms and conditions on Traynor Ridge Capital's registration as an exempt market dealer, portfolio manager and investment fund manager.
  • The order also prohibits all trading in any securities by or of the firm and in the securities of the TR1 Funds.

Ontario Securities Commission seeks applications for the Securities Proceedings Advisory Committee

Retrieved on: 
Wednesday, October 18, 2023
SPAC, Policy, Law, Committee, Ontario Securities Commission, Person, Corporation, Tribunal, Private sector, OSC, Law society, Property management

The SPAC advises the Governance & Tribunal Secretariat on a variety of policy and procedural initiatives relating to the Capital Markets Tribunal.

Key Points: 
  • The SPAC advises the Governance & Tribunal Secretariat on a variety of policy and procedural initiatives relating to the Capital Markets Tribunal.
  • The Committee typically meets twice a year and on an as-needed basis and may also be required to provide written feedback on initiatives.
  • The SPAC consists of staff of the Ontario Securities Commission and members from the private sector.
  • Applicants must be currently practising or have practised in securities litigation within the last three years, be in good standing with the Law Society of Ontario, have an excellent knowledge of Ontario securities law, and a strong interest in the development of tribunal policy and procedure.

Intellabridge Technology Provides Company Update, Announces Filing of Corrective Disclosure Pursuant to OSC Review and Postponement of Annual General Meeting

Retrieved on: 
Wednesday, October 4, 2023
Partnership, Ontario Securities Commission, Aptos, California, CPAB, Bank statement, Notice, CSE, AGM, FSE, Zoom, KASH, OSC, Organic, Cryptocurrency, Audit

Intellabridge uses Apto's advanced issuance solution and payment processing system to offer best-in-class security features, and seamless payment integrations.

Key Points: 
  • Intellabridge uses Apto's advanced issuance solution and payment processing system to offer best-in-class security features, and seamless payment integrations.
  • "We believe that our combined strengths will provide customers with an unmatched cashback and donation solution that is easy to use and rewarding," said John Eagleton, Intellabridge CEO.
  • The Company also announces that Intellabridge's audited annual financial statements for the year ended December 31, 2021 were selected by the Canada Public Accountability Board ("CPAB") for an inspection.
  • Each of the Restated Annual Financial Reports replace and supersede the respective previously filed original financial statements and corresponding management's discussion and analysis.

OSC releases report on artificial intelligence in Ontario's capital markets

Retrieved on: 
Tuesday, October 10, 2023
Knowledge, Ontario Securities Commission, Risk, System, Artificial intelligence, Person, OSC, Research, Medical device, AI

TORONTO, Oct. 10, 2023 /CNW/ - The Ontario Securities Commission (OSC) today published a report exploring the use of artificial intelligence (AI) in Ontario's capital markets.

Key Points: 
  • TORONTO, Oct. 10, 2023 /CNW/ - The Ontario Securities Commission (OSC) today published a report exploring the use of artificial intelligence (AI) in Ontario's capital markets.
  • The report highlights current AI use cases, benefits and challenges, and aims to raise awareness of both the opportunities and risks associated with the use of AI in capital markets.
  • We undertook this research to better understand how AI is being developed, tested and used by capital market participants in Ontario," said Grant Vingoe, CEO of the OSC.
  • The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair, efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk.

Capital Markets Tribunal announces appointment of two new Adjudicators

Retrieved on: 
Wednesday, October 4, 2023
Commissioner, Royal Bank of Canada, Price, Ontario Securities Commission, Gowlings, Bank of Montreal, Policy, Dean, York University, Supreme, Adjudicator, Royal Bank, Regulation, Advisory Council, Tribunal, Supreme court, CPA, Bank, Advocate, Osgoode Hall Law School, OSC, Dean (education), PwC, Property management

TORONTO, Oct. 4, 2023 /CNW/ - The Capital Markets Tribunal is today announcing the appointment of two new Adjudicators.

Key Points: 
  • TORONTO, Oct. 4, 2023 /CNW/ - The Capital Markets Tribunal is today announcing the appointment of two new Adjudicators.
  • Mary Condon is a Professor of Law at Osgoode Hall Law School, York University, where she teaches Securities Regulation and Advanced Securities Law.
  • Most recently, she served as Dean of Osgoode Hall Law School from 2019 to 2023.
  • Jane is a member of the Financial Services Tribunal and was a hearing committee member at the Canadian Investment Regulatory Organization/IIROC.