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Doug Sarro

@dougsarro.bsky.social
58 followers 48 following 19 posts

Law prof @uOttawa, interested in corporate + securities law, law + innovation, and The White Lotus. Boring academic articles at ssrn.com/author=1947504. He/him.

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Reposted by Doug Sarro
Hilary J. Allen @profhilaryallen.bsky.social · 26/07/2025
My comments in this Politico article are based on years of research on sandboxes, and this paper in particular. papers.ssrn.com/sol3/papers.... TL;DR @carnage4life.bsky.social is correct - these AI sandboxes are a bad idea
papers.ssrn.com
Regulatory Sandboxes: One Decade On
Regulatory sandboxes have spread like wildfire since the U.K. Financial Conduct Authority launched its sandbox for financial technology businesses (fintech) one
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Doug Sarro @dougsarro.bsky.social · 09/05/2025
I probably should do this with my other courses--just need to find the time/stop procrastinating--and probably use the h2o tool referenced above (now that I know about it)!
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Doug Sarro @dougsarro.bsky.social · 09/05/2025
I had my RA drop everything in a Word document and I did some formatting cleanup and it wasn't too bad. But it was all newer stuff that we could pull from CanLII--which I'd guess isn't true of everything you'd want to cover in Corporations.
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Doug Sarro @dougsarro.bsky.social · 09/05/2025
The closest I came to this was with my Startup Law course, where I supplemented a textbook I liked with a bunch of links to cases/statutes and other materials. On my second round teaching it I realized it'd be easier for students if I pulled the cases/statutes into one doc.
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Doug Sarro @dougsarro.bsky.social · 21/01/2025
Thank you so much, Hilary! Your work has shaped how I think about sandboxes and the broader challenges financial innovation pose to regulation and consumer protection. It's been fantastic having the benefit of your feedback and support on this work!
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Reposted by Doug Sarro
Hilary J. Allen @profhilaryallen.bsky.social · 21/01/2025
Given the interest in AI sandboxes, it's worth revisiting experience with fintech regulatory sandboxes. I've IDed a number of reasons for caution with these, but @dougsarro.bsky.social has uncovered another important one in his research on Canadian crypto sandboxes papers.ssrn.com/sol3/papers....
papers.ssrn.com
Sandbox Fictions
<div> Regulatory sandboxes are designed to give firms space to offer novel products and services to consumers on a trial basis, under an interim, tailor-made r
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Doug Sarro @dougsarro.bsky.social · 17/01/2025
Thanks, Dan! Hope all’s well!
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Doug Sarro @dougsarro.bsky.social · 17/01/2025
TLDR: Regulators' efforts speak to the significant impact sandboxes can have on law and policy, but also suggest we need to revisit some longstanding assumptions about how these tools interact with mainstream regulation.
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Doug Sarro @dougsarro.bsky.social · 17/01/2025
I've spent a long while thinking about regulatory sandboxes and how Canadian securities regulators used them to get a handle on the cryptoasset sector. Pleased to finally be able to share the product of this work, which is forthcoming in the Osgoode Hall Law Journal! ssrn.com/abstract=5101135
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Doug Sarro @dougsarro.bsky.social · 15/01/2025
Will be interesting to see what the SCC does. I've written on what they ought to do both for the CBLJ and the Globe and Mail (www.theglobeandmail.com/business/com...), and tried to explain how it was that our lower courts got themselves tangled up trying to figure out this issue.
theglobeandmail.com
Opinion: Why public companies must be made to disclose information promptly
For decades, the Supreme Court and securities regulators have interpreted the obligation to disclose material changes broadly
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Doug Sarro @dougsarro.bsky.social · 15/01/2025
In this context, past cases offer examples of material changes, but these examples are not exhaustive—new cases typically will require fresh analysis from first principles.
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Doug Sarro @dougsarro.bsky.social · 15/01/2025
(3) Jamal J highlighted the dangers of taking past decisions concluding that a given set of facts is *sufficient* to show that a legal test is met, and then trying to argue that those cases establish that those facts are *necessary* to show that the test is met in subsequent cases.
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Doug Sarro @dougsarro.bsky.social · 15/01/2025
I think the answer is that securities law often uses open-ended standards whose application to facts can get complicated. The "plausible analysis" test leaves room to defer the resolution of these qs to trial, where the evidentiary record will allow for better-informed application of law to facts.
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Doug Sarro @dougsarro.bsky.social · 15/01/2025
(2) To secure leave to bring this action, plaintiffs needed credible evidence and a “plausible analysis” of applicable law. Rowe & Kasirer JJ asked whether this means courts could adopt conflicting interps. of the same statute, on the basis that they’re all plausible...
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Doug Sarro @dougsarro.bsky.social · 15/01/2025
(1) Issuer's counsel struggled to explain why the SCC should depart from its standing interpretation of “material change” (as encompassing material events internal to the co.). Was glad to see Jamal J mention my article on why they should *not* depart from their approach. ssrn.com/abstract=4856418
papers.ssrn.com
Material Change Standards in Securities Law
Canadian securities law requires public companies to make periodic disclosure of material facts and immediate disclosure of material changes. But courts have st
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Doug Sarro @dougsarro.bsky.social · 15/01/2025
Today, the SCC heard Lundin Mining v. Markowich, which centres on public companies’ obligation to timely disclose material changes in their business. Some thoughts on the hearing (and shameless plugs):
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Reposted by Doug Sarro
annajanel.bsky.social @annajanel.bsky.social · 05/12/2024
We're hiring a lawyer as an Experiential Learning Team Lead - to help steward & build experiential learning opportunities at the University of Alberta Faculty of Law. Consider applying or please share the ad with people who might be a good fit! apps.ualberta.ca/careers/post...
apps.ualberta.ca
Experiential Learning Team Lead - Careers@UAlberta.ca
University of Alberta: Careers@UAlberta.ca
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Doug Sarro @dougsarro.bsky.social · 15/11/2024
Our Startup Law Clinic students just wrapped up their last legal education townhall for 2024--they came to present on corporate law, but the audience started quizzing them on everything from insolvency to tax planning. It was AMAZING to see how well the students handled all of it!
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Doug Sarro @dougsarro.bsky.social · 13/11/2024
media.tenor.com
a woman with a white mask on her face is saying hello
ALT: a woman with a white mask on her face is saying hello
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Doug Sarro @dougsarro.bsky.social · 13/11/2024
More on the Clinic and our student caseworkers here: www.uottawa.ca/faculty-law/...
uottawa.ca
uOttawa Startup Law Clinic | Faculty of Law
By offering accessible legal assistance to early-stage startups, with an emphasis on those looking to foster positive social change, the Startup Law Clinic aims to give law students practical insight ...
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Doug Sarro @dougsarro.bsky.social · 13/11/2024
I've been having a tonne of fun leading uOttawa's new Startup Law Clinic this fall, but sitting in on the legal education townhalls led by our student caseworkers has been a highlight. They did a fantastic job w/today's townhall on IP and Tech Law issues for startups!
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Doug Sarro @dougsarro.bsky.social · 13/11/2024
Glad to now have this much healthier excuse to avoid doing work.
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