As noted on page 370, all provinces have adopted legislation that provides a right of action for investors in the secondary market who suffer damages from misleading disclosures. It is expected that these provisions will greatly facilitate class actions. There are, however some significant differences in the various regimes with respect to class actions. For example, Ontario's legislation provides that the winning party, including the winning party in a class action, is entitled to costs. There is no equivalent provision in the B.C. legislation and, under the B.C. Class Proceedings Act, costs generally cannot be awarded against the losing party in a class action. Which rule do you prefer-loser pays costs or loser does not pay costs in class actions? What is the likely effect on litigation of having a costs distinction?