Tagged: osc

June 18, 2020 @ 6:39 pm By JD Alois  |  

One Big Crypto Ponzi Scheme Last week the Ontario Securities Commission (OSC) published a report documenting the collapse of QuadrigaCX, a crypto-exchange operated Gerald Cotten who reportedly died taking the crypto exchange to the grave. The review by the OSC staff disclosed that the failure… Read More

April 13, 2020 @ 1:25 pm By JD Alois  |  

Last week, 3iQ Corp. successfully commenced trading of The Bitcoin Fund (TSX:QBTC.U). The Fund was the product of an initial public offering (IPO) of units and a merger with 3iQ Bitcoin Trust. According to a company release, the Fund’s investment objectives are to provide holders… Read More

January 17, 2020 @ 6:46 pm By Cali Haan  |  

Toronto lawyer Amy ter Haar has provided her take on the Ontario Securities Commission’s (OSC’s) CSA Staff Notice 21-327: Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets. In short, the guidance could render any cryptocurrency trading platform subject to… Read More

January 16, 2020 @ 10:11 pm By Cali Haan  |  

The Canadian Securities Administrators (CSA) have made a major announcement regarding the regulation of cryptocurrency and “cryptoasset” trading platforms in the country, one that could add significant operational costs in the near term. Under the guidance, unless they have obtained an exemption, cryptocurrency trading platforms in… Read More

December 31, 2019 @ 3:06 pm By Cali Haan  |  

Companies wishing to provide the Ontario Securities Commission (OSC) with, “feedback on the regulatory and capital raising challenges faced by innovative businesses at various stages of development,” have until Friday, January 3rd, to complete the OSC’s Launchpad Survey. The survey was designed in collaboration with… Read More

November 28, 2019 @ 8:43 am By JD Alois  |  

This week, the Ontario Securities Commission (OSC) published a report on how it intends to dramatically reduce the regulatory burden in Canada’s most economically robust province. The report was completed after a 12 month review period and supported by the Ontario Ministry of Finance. Governments… Read More

November 28, 2019 @ 8:02 am By Omar Faridi  |  

The government of Ontario is looking to updating their regulatory policies for capital markets while reducing the regulatory burden. Improvements for both large and small firms are the goal. This includes innovative businesses in Fintech as they will receive: “more flexibility in the OSC’s approach… Read More

October 30, 2019 @ 6:13 pm By JD Alois  |  

3iQ Corp. (3iQ), a Canadian investment fund manager, has received a favorable ruling regarding “The Bitcoin Fund” from the Ontario Securities Commission (OSC), according to a company release. Reportedly, 3iQ will issue a final prospectus for a closed-end Bitcoin fund which will be listed on… Read More

October 24, 2019 @ 9:55 pm By Cali Haan  |  

The Ontario Securities Commission (OSC) has agreed to allow TokenGX Inc, operator of token-issuance platform TokenFunder, to pilot a secondary market trading system for Ontario residents only. The pilot can proceed for 12 months after the first issuance of an ITO (initial token offering) or… Read More

May 15, 2019 @ 8:09 am By JD Alois  |  

The Securities and Exchange Commission (SEC) and the Ontario Securities Commission (OSC) have jointly taken action against Alex Tapscott and NextBlock Global Limited for misleading investors pertaining to digital asset investments. Both agencies require Tapscott-NextBlock to pay penalties affiliated with the securities offering. According to… Read More

March 1, 2019 @ 7:25 am By JD Alois  |  

The Ontario Securities Commission (OSC) has posted the new members of the regulator’s Fintech Advisory Committee (FAC). The FAC ostensibly advises the OSC on developments in the Fintech space while providing perspective on challenges facing emerging fintech firms. While there remains some overlap from last… Read More

February 12, 2019 @ 10:40 am By Cali Haan  |  

The Ontario Securities Commission has stated that it is “looking in” problems at Quadriga CX after it was revealed last week that the Canadian cryptocurrency exchange has been put into credit protection following the December death of its founder, Gerald Cotten. Matters have been further… Read More

February 8, 2019 @ 2:19 am By JD Alois  |  

In an open letter to Canadian securities regulators, leading investment crowdfunding platform FrontFundr pointed a finger at provincial regulators and their inability to foster a robust ecosystem for online capital formation for early-stage Canadian firms. Signed by Peter-Paul Van Hoeken, who is CEO of FrontFundr… Read More

December 9, 2018 @ 8:29 pm By Samantha Hurst  |  

The Ontario Securities Commission (OSC) announced last week it is seeking applications for membership on its Fintech Advisory Committee (FAC). The OSC reported the FAC advises the OSC LaunchPad staff on developments in the fintech space and the challenges faced by start-ups in the securities industry. It… Read More

November 6, 2018 @ 9:22 am By Cali Haan  |  

The Ontario Securities Commission, regulator of capital markets in Canada’s most populous economic-powerhouse province, have created a colourful new website to educate investors about cryptocurrencies: GetSmarterAboutCrypto.ca According to a release announcing the initiative, 5% of adult Ontarians, or around 500 000 individuals, now own “crypto assets,”… Read More

July 9, 2018 @ 6:26 pm By Cali Haan  |  

The Ontario Securities Commission’s (OSC’s) “Statement of Priorities for the Financial Year to End March 31st, 2018,” provides little guidance to Ontario companies trying to advance blockchain-based financial technologies, says Toronto-based blockchain lawyer Amy ter Haar. T Though the report restates the commission’s commitment to protecting… Read More

July 1, 2018 @ 2:00 pm By Cali Haan  |  

The Ontario Securities Commission (OSC) has published a report on a comprehensive survey of 2500 Ontarians regarding their interest in and knowledge of digital currencies like Bitcoin. The report, commissioned by the OSC’s Investor Office and conducted by Innovative Research Group, found that 5%, or… Read More

February 15, 2018 @ 6:10 pm By JD Alois  |  

Investment banking is a highly profitable business. Goldman Sachs, perhaps the most prominent investment bank in the world, raked in $32 billion during fiscal 2017 with the majority of this revenue driven specifically by investment banking. Yet arguably, much of the value that is provided… Read More

December 24, 2017 @ 6:23 am By JD Alois  |  

One of the attractive aspects of Reg A+, as created by the JOBS Act of 2012, is the fact issuers may immediately trade securities following a funding round. This has led to a growing number of SMEs to raise capital under Reg A+ and quickly… Read More

October 25, 2017 @ 10:05 am By JD Alois  |  

Recently the Canadian regulators have gone out of their way to embrace innovation and Fintech in general. This past week, the Ontario Securities Commission (OSC) published a decision on the application of Token Funder to launch an Initial Coin Offering (ICO) and the tokenized security… Read More