Regulatory

OSC plans to raise fees

The OSC is seeking comment on its draft of OSC rules 13-502 and 13-503, which proposes amendments to its funding model for the next three years.

By Staff |August 23, 2012

1 min read

U.S. auditors failing regulatory inspections

U.S. auditors may face more stringent regulatory oversight, after the PCAOB's first regulatory report revealed deficiencies in their reports and techniques.

By Wire services |August 22, 2012

2 min read

ABCP settlement fund distribution delayed

The OSC and IIROC have extended the deadline for the submission of forms in connection with the distribution of settlement funds to eligible investors who purchased third-party Asset-Backed Commercial Paper. The original deadline for submission was June 30, 2012. The OSC and IIROC have extended this deadline to October 26, 2012, in order to ensure […]

By Staff |August 21, 2012

1 min read

Fleeced investors launch class-action against BMO

From 1999 to April 2002, Salim Damji—who claimed to have invented a new teeth-whitening product for Colgate—defrauded investors out of approximately $77 million. And he used BMO accounts to deposit and transfer the stolen funds. It’s alleged the bank knowingly assisted Damji; according to the Ontario Superior Court’s decision documents, it was aware the funds […]

August 17, 2012

1 min read