Securities Enforcement | 25
Lenczner, QC, Alan J.
Lenczner Slaght Royce
Smith Griffi n LLP
(416) 865-3090
alenczner@litigate.com
Widely acknowledged as
one of Canada's leading
litigators, Mr. Lenczner
applies his advocacy
skills to yield precedent-
setting decisions in many
areas of civil litigation. He
appears regularly before
courts at all levels.
Lichty, Mark G.
Blaney McMurtry LLP
(416) 593-3961
mlichty@blaney.com
Mr. Lichty's practice is
restricted to insurance
and reinsurance matters,
emphasizing coverage
issues arising out of
commercial property,
commercial liability,
directors and offi cers,
homeowners and
fi nancial services policies.
He also drafts policies.
Loranger,
Julie-Martine
McCarthy Tétrault LLP
(514) 397-4221
jmloranger@mccarthy.ca
Ms. Loranger's
practice focuses on
commercial, civil and
securities litigation,
class actions, regulatory
matters, insurance and
professional liability.
She also defends various
stakeholders in the
fi nancial services sector.
Leon, Jeff rey S.
Bennett Jones LLP
(416) 777-7472
leonj@bennettjones.com
Mr. Leon provides
strategic advice and acts
in business disputes
before courts and arbitral
tribunals: commercial,
corporate, securities,
product liability,
professional negligence
and class proceedings. A
former ACTL Regent and
Director of IATL.
Lisus, Jonathan C.
Lax O'Sullivan Scott
Lisus LLP
(416) 598-7873
jlisus@
counsel-toronto.com
Mr. Lisus focuses on
commercial disputes
as trial and appellate
counsel in courts across
the country including
the Supreme Court. He
is a Fellow of the ACTL,
IATL and a member of the
Chief Justice of Ontario's
Advisory Committee on
Professionalism.
Lowenstein, Larry P.
Osler, Hoskin &
Harcourt LLP
(416) 862-6454
llowenstein@osler.com
Mr. Lowenstein focuses
on complex litigation,
including corporate
governance issues,
class actions, securities
regulatory matters,
employment and
environmental liability.
Frequent conference
presenter and editor of
Corporate Litigation.
LEXPERT®Ranked Lawyers
THE ONTARIO SECURITIES Commission's decision to open the door to no-
contest settlements means offi cers and directors of publicly listed companies accused
of securities violations may be able to cut a deal with regulators without admitting
they did anything wrong.
e move is popular with lawyers who act for companies in court. ey like no-
contest settlements because they keep a corporation's conduct out of the public re-
cord so it can't be used as evidence to bolster a shareholder lawsuit.
But no-admission settlements are relatively unpopular with plaintiff s' counsel who
say they help offi cers and directors evade responsibility.
In fact, the kind of no-contest settlements just coming into force in Canada were
at the heart of a major three-year controversy in the US.
It started when US District Court Judge Jed S. Rakoff declined to approve a pro-
posed $285-million no-contest settlement with Citigroup Global Markets over
ALLOWING PARTIES TO SETTLE WITH REGULATORS WITHOUT
ADMITTING FAULT IS THE LATEST METHOD BEING USED
TO EXPEDITE SECURITIES ENFORCEMENT By Sandra Rubin
SECURITIES
ENFORCEMENT
EFFICIENCY
AND FAIRNESS
