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Inside Internal Controls

News and discussion on implementing risk management

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settlement agreement

Working together works: Ontario Securities Commission approves reduced sanction for insider tipper who cooperated with investigation

The OSC recently approved a settlement agreement in which the respondent admitted to providing material non-public information to a third party. The order in Re Hutchinson, which did not include an administrative penalty or disgorgement of profits, was held to be in the public interest given the respondent’s cooperation and other mitigating factors.

 

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When a party breaches a settlement agreement: Being made whole

A party that breaches a settlement agreement risks both being forced to complete the agreement and having to pay the legal costs of the party seeking to enforce the agreement.

 

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Are documents prepared by a regulatory body privileged? The Court of Appeal says: it depends…

The Court of Appeal for Ontario recently commented on the application of case-by-case privilege to documents created by the Institute of Chartered Accountants of Ontario through its investigative process. In particular, the decision in Philip Services Corp. v Deloitte & Touche demonstrates that such documents may be disclosed in civil proceedings in the absence of clear assurances of confidentiality.

 

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Is your mediation confidentiality clause watertight?

In Union Carbide Canada Inc. v. Bombardier Inc. [1], the Supreme Court of Canada struck a delicate balance between two key elements of mediation: settlement privilege and confidentiality.

 

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