Royal Bank of Canada is fending off serious allegations from the U.S. Commodity Futures Trading Commission (CFTC), which has accused the bank and its subsidiaries of engaging in “wash trading”.
Goldman Sachs is set to pay a $7 million settlement in the face of federal regulators' civil charges that its futures brokerage business failed to diligently supervise activity in trading accounts for two years.
An Ontario court has approved a plan submitted by the OSC and IIROC to distribute funds to investors burned in the third-party Asset-Backed Commercial Paper (ABCP) fiasco that began in 2007.
While Canadian drug innovators have to follow an arduous process when filing for regulatory approval for traditional small molecules, generic manufacturers “don’t have to prove as much, so the process is abbreviated—although they have to wait until the patents for the original drug and a data-exclusivity period have expired,”
Pension standards legislation in Canada allows an employer to act as the administrator of its single employer pension plan. However, as a plan administrator, an employer must remember two points: do no harm and take no advantage, says Randy Bauslaugh, a partner in the Pensions, Benefits & Executive Compensation Group with McCarthy Tétrault, LLP.
The Office of the Superintendent of Financial Institutions has updated its frequently asked questions regarding letters of credit.
Within Canada and around the world, the conversion of DB plans to DC plans has been accelerating as plan sponsors look to reduce their pension risk.
The U.S. Department of Labor has unveiled its final 401(k) fee disclosure rule, which requires plan providers to provide more details about what employers pay for retirement plan administration and other services.
When Bill 133, the Family Statute Law Amendment Act, 2009, was introduced in 2008, it promised to reform the division of pensions on marriage breakdown in Ontario and introduce changes that had long been requested by both family law practitioners and pension plan administrators.
The Supreme Court of Canada says the federal government does not have the power to unilaterally create a national securities regulator through legislation, but reaction to the decision suggests there might still be a way forward, through federal and provincial co-operation.