August 02, 2019
Partner Cheryl Reicin spoke with The Globe and Mail regarding the Ontario Securities Commission’s investigation into CannTrust Holdings Inc. and the uncertainty surrounding this cross-border case.
The article discusses how the OSC is investigating CannTrust after learning the company was illegally growing cannabis without a proper license. CannTrust is listed on both the New York Stock Exchange and the Toronto Stock Exchange.
Cheryl shares some of her cross-border expertise and said “the OSC and the SEC will probably have to figure out how they’re going [to] work together on this.”
“I would say the OSC probably wants to take a leading role because it’s a Canadian company … they were primarily responsible for reviewing the disclosure,” she said.
“Then again, the SEC is still new to cannabis, so I suppose they’re going be very interested because they want to know what happened here and how do they make sure it doesn’t happen going forward?”
You can read more on Torys’ Cannabis work on the relevant practice page.