Canadian securities regulation

4Front Continues To Be Quoted On OTCQX® Best Market Under Ticker 'CNXXF'

Retrieved on: 
Friday, August 9, 2019
Financial markets, Agencies of the United States government, Stock market, Finance, 73rd United States Congress, Securities Act, Securities regulation in the United States, Security, United States securities law, U.S. Securities and Exchange Commission, Canadian securities regulation, Regulation D

This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents.

Key Points: 
  • This news release was prepared by management of 4Front Ventures, which takes full responsibility for its contents.
  • The Canadian Securities Exchange ("CSE") has not reviewed and does not accept responsibility for the adequacy of this news release.
  • This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States.
  • Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ASC sanctions Vernon Ray Fauth for perpetrating a fraud on investors

Retrieved on: 
Thursday, June 27, 2019
Canadian Securities Administrators, Canadian securities regulation, Alberta Securities Commission, Disgorgement, Securities commission, Government of Canada, Law, Government

CALGARY, June 27, 2019 /CNW/ - The Alberta Securities Commission (ASC) has sanctioned Vernon Ray Fauth, from Calgary, for breaching the Securities Act (Alberta) in connection with the sale of investments in Espoir Capital Corporation (Espoir).

Key Points: 
  • CALGARY, June 27, 2019 /CNW/ - The Alberta Securities Commission (ASC) has sanctioned Vernon Ray Fauth, from Calgary, for breaching the Securities Act (Alberta) in connection with the sale of investments in Espoir Capital Corporation (Espoir).
  • An ASC panel previously determined that Fauth illegally dealt in securities of Espoir, made misrepresentations to Espoir investors and perpetrated a fraud on investors.
  • The ASC panel ordered Fauth to pay an administrative penalty of $400,000, a disgorgement order of $2,585,414.87 and investigation and hearing costs of $250,000.
  • As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

Canadian securities regulators set out suggested practices for working with older or vulnerable clients

Retrieved on: 
Friday, June 21, 2019
Canadian Securities Administrators, Canadian securities regulation

TORONTO, June 21, 2019 /CNW/ -The Canadian Securities Administrators (CSA) today published a notice that outlines suggested practices that registered firms can consider when engaging with older or vulnerable clients.

Key Points: 
  • TORONTO, June 21, 2019 /CNW/ -The Canadian Securities Administrators (CSA) today published a notice that outlines suggested practices that registered firms can consider when engaging with older or vulnerable clients.
  • "Registrants could be one of the first to recognize the challenges faced by older or vulnerable clients, including potential financial exploitation or diminished mental capacity.
  • The CSA will continue to monitor these issues and consider additional measures to assist registrants in serving their older or vulnerable clients.
  • CSA Staff Notice 31-354 Suggested Practices for Engaging with Older or Vulnerable Clients can be found on CSA members' websites.

Majority of Canadian investors support measures to protect vulnerable investors, IIROC survey reveals

Retrieved on: 
Friday, June 21, 2019
Economy of Canada, Financial regulation, Investment Industry Regulatory Organization of Canada, Canadian securities regulation, Economy, Canadian Securities Administrators, Canadian Investment Manager

"This input from investors complements the comments we have heard from the investment industry on the need for tools like a regulatory safe-harbour to address the issues associated with Canada's aging population and vulnerable investors."

Key Points: 
  • "This input from investors complements the comments we have heard from the investment industry on the need for tools like a regulatory safe-harbour to address the issues associated with Canada's aging population and vulnerable investors."
  • "We will continue our collaboration with the Canadian Securities Administrators (CSA) on proposals to provide the tools needed to protect vulnerable investors," Kriegler said.
  • IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets.
  • IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces.

Manitoba Securities Commission issues Reasons for Decision in the matter of David Tobac

Retrieved on: 
Thursday, June 20, 2019
Law, Canadian securities regulation, R (Datafin plc) v Panel on Take-overs and Mergers, R (Miller) v Secretary of State for Exiting the European Union, Case law

A copy of the Reasons for Decision is available at www.mfda.ca .

Key Points: 
  • A copy of the Reasons for Decision is available at www.mfda.ca .
  • In September 2018, Mr. Tobac applied to the Manitoba Securities Commission ("MSC") for a Hearing and Review of the MFDA Hearing Panel's decision, pursuant to subsection 31.1 of the Manitoba Securities Act.
  • On December 21, 2018, the MSC Hearing Panel issued their Reasons for Decision.
  • A copy of the Reasons for Decision is available on the MSC website here .

OSC Investor Alert: FSM Smart Ltd.

Retrieved on: 
Tuesday, June 18, 2019
Finance, Economy, Money, Ontario Securities Commission, Stock market, Canadian securities regulation, Investor, Security, Securities commission

TORONTO, June 18, 2019 /CNW/ -The Ontario Securities Commission (OSC) is warning investors that FSM Smart Ltd. (FSM) is not registered in Ontario to solicit investments, provide brokerage services or offer advice on investing in, buying, or selling securities or commodities.

Key Points: 
  • TORONTO, June 18, 2019 /CNW/ -The Ontario Securities Commission (OSC) is warning investors that FSM Smart Ltd. (FSM) is not registered in Ontario to solicit investments, provide brokerage services or offer advice on investing in, buying, or selling securities or commodities.
  • The Manitoba Securities Commission and Autorit Des Marchs Financiers have issued investor warnings about FSM.
  • Ontarians who have been approached by FSM or its representatives are advised to contact the OSC Inquiries and Contact Centre at 1-877-785-1555 or [email protected] .
  • Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at www.osc.gov.on.ca .

ASC issues Notice of Hearing against Gerald Michael Budzinski

Retrieved on: 
Wednesday, June 12, 2019
Alberta Securities Commission, Canadian securities regulation, Canadian Securities Administrators, Government of Canada

CALGARY, June 12, 2019 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing against Gerald Michael Budzinski in connection with suspected market manipulation, failures to disclose share accumulation and failure to follow take-over bid rules.

Key Points: 
  • CALGARY, June 12, 2019 /CNW/ - The Alberta Securities Commission (ASC) has issued a Notice of Hearing against Gerald Michael Budzinski in connection with suspected market manipulation, failures to disclose share accumulation and failure to follow take-over bid rules.
  • The Notice of Hearing states that, between August 2015 and June 2016, Budzinski exercised trading authority over a number of accounts through which he purchased shares in BCM Resources Corporation.
  • An appearance to set a date for a hearing will be held on Thursday July 25, 2019 at 1:00 pm in the ASC Hearing Room on the 5th floor, 250 5 Street SW, Calgary, Alberta.
  • As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

OSC Requests Members for Market Structure Advisory Committee

Retrieved on: 
Thursday, June 6, 2019
Canadian securities regulation

Established in 2011, the MSAC serves as a forum to discuss issues associated with market structure and marketplace operations.

Key Points: 
  • Established in 2011, the MSAC serves as a forum to discuss issues associated with market structure and marketplace operations.
  • Members are selected for their extensive knowledge of the Canadian capital markets and market structure, and their strong knowledge of the regulatory requirements in Canadian securities legislation.
  • All interested parties, including those with industry experience and expertise in market structure issues, are invited to submit applications in writing, indicating their areas of practice and relevant experience.
  • The OSC is looking for members with experience from a variety of different perspectives.

ASC focuses on empowering seniors in June

Retrieved on: 
Thursday, June 6, 2019
Canadian Securities Administrators, Alberta Securities Commission, Canadian securities regulation, Alberta, Securities fraud, Government of Canada, Country subdivisions

CALGARY, June 6, 2019 /CNW/ - The Alberta Securities Commission (ASC) has launched a month-long senior outreach campaign across Alberta to recognize Seniors Month (June) and World Elder Abuse Day (June 15, 2019).

Key Points: 
  • CALGARY, June 6, 2019 /CNW/ - The Alberta Securities Commission (ASC) has launched a month-long senior outreach campaign across Alberta to recognize Seniors Month (June) and World Elder Abuse Day (June 15, 2019).
  • Nearly 40 per cent of Albertans age 55+ believe they have been approached with a potentially fraudulent investment, as identified in an Investor Index Study commissioned by the ASC.
  • The ASC's 2019 activities aim to connect directly with seniors and their caregivers through a variety of community events, a financial literacy quiz and seniors resources on Checkfirst.ca/seniors , including the Spot and Stop Seniors Investment Fraud fact sheet.
  • As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

Boliden AB Files Application to Cease to be a Reporting Issuer in Canada

Retrieved on: 
Wednesday, June 5, 2019
Boliden AB, Boliden, Canadian securities regulation, Issuer, Economy, Companies, Geography of Sweden

BOLIDEN, Sweden, June 5, 2019 /PRNewswire/ -- Boliden AB ("Boliden") has applied to the Ontario Securities Commission ("OSC") for an order that Boliden has ceased to be a reporting issuer in Ontario, Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, Newfoundland and Labrador and Prince Edward Island, being the jurisdictions in Canada in which it is currently a reporting issuer.

Key Points: 
  • BOLIDEN, Sweden, June 5, 2019 /PRNewswire/ -- Boliden AB ("Boliden") has applied to the Ontario Securities Commission ("OSC") for an order that Boliden has ceased to be a reporting issuer in Ontario, Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, Newfoundland and Labrador and Prince Edward Island, being the jurisdictions in Canada in which it is currently a reporting issuer.
  • Boliden voluntarily delisted from the Toronto Stock Exchange ("TSX") in April 2013.
  • However, since that time and up until now Boliden has remained a reporting issuer in the mentioned jurisdictions in Canada.
  • If the requested order is made by the OSC, Boliden will no longer be required to file financial statements and other documents in Canada pursuant to Canadian securities laws.