The latest issue of the Goodwin Public Company Advisory News Roundup has been posted, covering the period from May 11, 2026 – May 21, 2026. The Roundup highlights the latest developments in SEC and stock exchange regulatory activity, corporate governance and other topics relevant to public company counseling and compliance. We address the following topics
Corporate & Commercial
SEC Proposes to Rescind the Climate-Related Disclosure Rules
Over two years after they were adopted, the SEC has now proposed to rescind its climate-related disclosure rules.
The SEC adopted its climate-related disclosure requirements in March 2024, and those rules were subsequently challenged in proceedings that were consolidated in the U.S. Court of Appeals for the Eighth Circuit. In March 2025, the SEC announced…
Eight Charged in Alleged CERB Fraud Scheme Targeting CRA Accounts
Eight people from Ontario and Quebec are facing charges after an RCMP investigation into an alleged cyber-enabled fraud scheme targeting federal COVID-19 benefit payments. Police say the scheme involved stolen identities, unauthorized access to Canada Revenue Agency accounts, and the redirection of CERB payments into accounts controlled by suspects.
Eight people from Ottawa, Gatineau, and…
Edmonton Police Say Ethical Hackers Helped Prevent $42M in Potential Fraud Losses
The Edmonton Police Service says collaboration with ethical hackers, U.S. law enforcement, and other agencies has helped prevent more than $42 million in potential losses to scammers since July 2025. Police say the initiative involves receiving intelligence about in-progress scams, contacting victims, and working with banks and service providers to disrupt fraudulent transfers before money…
Canadian-Led Grandparent Scam Ring Cost Seniors Up to $3.5M
A Canadian man believed to be from Montreal has been sentenced to more than 15 years in U.S. federal prison for his role in a grandparent scam that targeted elderly victims. The scheme involved fake emergency calls, claims that relatives needed bail money, and cash collections from victims’ homes.
A Canadian-led grandparent scam has resulted…
Company Sues After Alleged Email Fraud Redirects $203K Wire Transfer
A Quebec packaging manufacturer has filed a lawsuit in Manitoba alleging that fraudsters intercepted email communications and impersonated an insurance broker to redirect a $203,664.31 wire transfer to a Manitoba bank account. The claim alleges the scheme involved a subtly altered email domain and fraudulent banking instructions.
A packaging manufacturer has filed a lawsuit after…
Ontario Investors Report Alleged $3M Construction Investment Fraud
A group of Ontario investors say they lost millions after investing in what they believed were construction renovation contracts connected to a former executive at a Toronto-based property management company. Police in London and Toronto have confirmed they are aware of complaints, while the company says it was not aware of or connected to the…
Scotiabank Customers Say $90K Was Drained After Bank Impersonation Scam
A Canadian couple says fraudsters drained approximately $90,000 from their personal and business Scotiabank accounts after gaining access through a Scotia Connect personal token. The couple says they are still waiting for clarity on whether the bank will reimburse the stolen funds.A Canadian couple says they are facing financial uncertainty after fraudsters allegedly drained approximately…
National Bank Partners With Sardine to Strengthen Digital Banking Fraud Detection
National Bank of Canada has announced a multi-year partnership with Sardine to improve digital banking security and fraud operations. The bank will use Sardine’s device intelligence and real-time risk scoring across retail, commercial, and wealth services after an evaluation showed improved fraud detection and fewer false positives.
National Bank of Canada is partnering with Sardine,…
Even Where Contract Gives Party Right to Act in its Sole Discretion, it Still Must Exercise That Discretion in Good Faith
By John Lundin
On May 28, 2026, the Court of Appeals issued a decision in 111 W. 57th Inv. LLC v. 111 W57 Mezz Inv. LLC, 2026 NY Slip Op. 03376, holding that even where a contract gives a party the right to act in its sole discretion, it still must exercise that discretion in good faith,…