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Failure to [Coin]Launch – Caution for crypto-asset consultants, advisers and service providers

CoinLaunch carried on business as a cryptoasset consultant, offering marketing and promotional services to prospective token issuers.

 

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Cyber and the board

There’s an interesting article in the Harvard Law School Forum on Corporate Governance and Financial Regulation. What the Capital One Hack Means for Boards of Directors has some interesting insights that merit the attention of risk, cyber, audit, and governance practitioners.

 

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FATF issues guidance on virtual assets

FATF issues guidance on virtual assets

 

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Deceptive marketing in the spotlight: Ticketmaster to pay Competition Bureau penalty of $4.5 million

In a recent article, the Competition Bureau’s focus on high-impact, consumer-focused digital economy investigations, including specifically investigations into drip pricing practices was highlighted. On June 27, 2019, the Bureau announced that its investigation into such practices by Ticketmaster had concluded with a consent agreement.

 

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Financial Stability Board delivers report on financial stability implications of decentralised financial technologies

On June 6, 2019, the Financial Stability Board (the “FSB”), an international body that coordinates the work of national financial authorities, published a report on “Decentralised financial technologies” in response to a request by the Japanese presidency of the G20.

 

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The Financial Services Regulatory Authority of Ontario

Effective June 8, 2019, the Ontario government launched the Financial Services Regulatory Authority of Ontario (FSRA), which is a new independent and self-funded regulator of financial services and pensions that is intended to help reduce regulatory burden, among other things.

 

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CSA and IIROC propose regulatory framework for cryptoasset trading platforms

On March 14, 2019, the Canadian Securities Administrators and the Investment Industry Regulatory Organization of Canada published Consultation Paper 21-402 Proposed Framework for Crypto-Asset Trading Platforms proposing a regulatory framework for platforms that trade cryptoassets.

 

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Regulation of online advisors: An international overview

The regulation of online advisors, often referred to as “robo-advisors”, continues to be a hot topic in the financial services industry. Online advisors are digital wealth managers which generate investment recommendations and automatically invest and rebalance funds based on an investor’s risk tolerance.

 

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Inter-jurisdictional enforcement against cryptocurrency-related financial products

In its first enforcement decision concerning cryptocurrency, the Ontario Securities Commission permanently prohibited USI-Tech Limited from trading in securities or derivatives based on its promotion of cryptocurrency-related financial products in Ontario.

 

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SWIFT publishes cybersecurity counterparty risk guidelines

On February 15, 2019, the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) published guidelines for assessing cybersecurity counterparty risk for financial institutions (the “Guidelines”).

 

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Hyperventilating about cyber – Part I

It’s hard to see a survey these days that doesn’t include cyber as one of the top risks faced by organizations around the world. But should it be?

 

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Fintech regulatory developments: 2018 year in review

2018 proved to be another busy year for Fintech in Canada, with a number of notable and anticipated regulatory developments. We look back to summarize some of 2018’s most notable Fintech-related developments in Canada, and developments to watch for in 2019.

 

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Department of Finance Canada issues consultation paper on open banking

On January 11, 2019, the Department of Finance Canada released a consultation paper seeking the views of Canadians on the potential benefits and risks of an open banking system.

 

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Influencer marketing: Understanding disclosure best practices

From the Instagram model advertising gifted products to the geek blogger paid to review video games, influencer advertising is now everywhere. Digital marketing is rapidly evolving (the world even saw its first CGI influencer earlier this year), and regulators are adapting accordingly.

 

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Who takes cyber risk?

Who is taking cyber risk? Is it the board and top management who are deciding how much scarce resource to invest in breach prevention, detection and response? Or is it the business leaders whose initiatives are damaged or worse should there be a security incident?

 

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