The regular “Weekly Update” email from the Financial Industry Regulatory Authority (“FINRA”) had an eye-catching warning February 16, urging broker-dealer member firms to heed the “Shields Up” cyber threat warning from the Cybersecurity and Infrastructure Security Agency (“CISA”) and the FBI.
That warning urged heightened cybersecurity vigilance “related to Russia’s potential destabilizing activities against Ukraine.” The CISA alert said, “While there are not currently any specific credible threats to the U.S. homeland, we are mindful of the ...
The Quebec Court of Appeals recently held in an advisory opinion that Canada's attempt to create a national securities regulation scheme with the voluntary participation of the provinces is unconstitutional. Canada's Constitution Act of 1867 grants provinces exclusive authority to regulate securities within their provincial lines. In 2011, the Supreme Court of Canada struck down the Canadian Securities Act, which attempted to establish a central regulation scheme on the basis that the Constitution granted securities regulation power to the provinces.
In an effort to get ...