Autorité des marchés financiers
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Quebec financial regulator cracking down on illicit money-services businesses
Quebec’s financial watchdog is cracking down on businesses that illegally run a money-services business. Continue reading
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New virtual currency targeted by Quebec financial watchdog
The Quebec Financial Markets Administrative Tribunal issued a series of expansive ex parte orders prohibiting Dominic Lacroix and several of his companies from promoting and soliciting investors for a new virtual currency set to be launched. The Tribunal, at the request of Quebec’s financial watchdog, issued a broad order barring Lacroix, DL Innov inc., Gestio… Continue reading
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Quebec regulates virtual currency ATMs and trading platforms
In a move that caught the business and legal community by surprise, Quebec became the first jurisdiction in Canada to regulate the digital currency sector by requiring businesses that operate virtual currency automated teller machines or trading platforms to obtain a licence to operate in the province. Continue reading
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Risk management advisors must be registered with the provincial securities regulator, says court
Independent risk management advisors must be registered with the provincial securities regulator in order to carry on advisory activities related to insurance product offerings, following a precedent-setting ruling by the Court of Quebec. Continue reading
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Investors delighted but insurers concerned
A ruling that ordered an insurance company to pay $460,000 to a Quebec couple raises questions over the scope of professional liability insurance coverage. Continue reading
Categories: Business, Financial services, Quebec, Quebec Court of Appeal, Rulings, White-collar crimes -
Quebec first province to regulate money-services industry
A recently passed bill that made Quebec the first province to regulate the money-services industry has elicited mixed reactions. Continue reading
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New indemnity fund proposed following out-of-court settlement in Norbourg class-action
Days after an agreement in principle was reached in the Norbourg class action suit, opening the door for thousands of investors to recover nearly all the money they lost in one of the biggest investment frauds in the country, questions surrounding the efficacy and scope of investor protection provided by the debt-ridden indemnity fund overseen… Continue reading
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Investor complaints rising
A growing number of investors faced with the prospect of shrinking investment portfolios are lodging complaints with provincial and federal bodies that oversee the investment community. Continue reading