My point of view is that regulators are part of the problem almost always. They exist with the pretense of usefulness but are anything but. Why they would care about some Canadian company less that $200m cap beats me. Maybe EK has enough connections to get them to take a hard look. BIG maybe.
Then what do they do?? Prosecute, threaten fines, wink, cast a blind eye....delete emails.
Nothing like a new buyer/s to precipitate a short squeeze. Pain in the wallet will make the regulators even more irrelevant if that is possible.