Category: Corporate Finance
Jun 30, 2021 | Corporate Finance, FAQs, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
Answer: As of July 1, 2021, the OSC will have regulatory oversight over the distribution of NQSMIs to persons that are not permitted clients. Firms distributing NQSMIs to investors that are not permitted clients will need to rely on another available prospectus...
Jun 30, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
On June 23, the CSA announced the final publication of National Instrument 45-110 Start-Up Crowdfunding Registration and Prospectus Exemptions (NI 45-110), along with CSA Staff Notice 45-329 Guidance for using the start-up crowdfunding registration and prospectus...
May 31, 2021 | Corporate Finance, Regulatory Compliance
The British Columbia Securities Commission has released for comment Proposed BCI 51-519 Promotional Activity Disclosure Requirements which sets out a framework for required disclosure relating to promotional activities. The proposals stem from problematic promotional...
May 31, 2021 | Client-Focused Reforms (CFRs), Corporate Finance, FAQs, Regulatory Compliance
Answer: Registrants are often asked by their clients, as trusted advisors, to act as their trustee under family trusts, executors under their will or as powers of attorney. The potential issue with accepting any of these roles for a registrant is that they may present...
May 31, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
On May 20, the CSA proposed amendments to NI 51-102 Continuous Disclosure Obligations in order to streamline and clarify continuous disclosure requirements for reporting issuers other than investment funds. The proposed amendments would include consolidating the...
May 31, 2021 | Corporate Finance, Regulatory Compliance
The CSA has proposed certain amendments to the National Instrument which sets out definitions that apply across various other national instruments, including the definition of “Canadian financial institution”, and consequential amendments resulting from the change....
Apr 30, 2021 | Corporate Finance, Corporate Law, Regulatory Compliance
On March 29, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC, and together with the CSA, Regulators) jointly published Staff Notice 21-329 Guidance for Crypto-Asset Trading Platforms: Compliance with...
Apr 30, 2021 | Corporate Finance, Corporate Law, Regulatory Compliance
On March 29, 2021, Bill 22, Red Tape Reduction Implementation Act, 2020, was proclaimed into force in Alberta. As a result, an Alberta corporation will no longer be required to have any Canadian citizens on its board of directors. In addition, director residency...
Apr 30, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
The Alberta Securities Commission and the Financial and Consumer Affairs Authority of Saskatchewan have proposed a new prospectus exemption to assist small businesses in Alberta and Saskatchewan to raise up to $5 million from investors in those provinces, based on a...
Apr 30, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
The Alberta Securities Commission is continuing to explore unique exemptions to revitalize Alberta’s capital markets and assist small businesses to raise capital efficiently while balancing investor protection. The proposed new blanket order would provide an exemption...
Apr 30, 2021 | Corporate Finance, Investment Funds, Regulatory Compliance
The Supreme Court of British Columbia has confirmed that monetary penalties and disgorgement orders from regulatory proceedings are exempt from a bankruptcy discharge. In 2015, the British Columbia Securities Commission ordered Thalbinder Singh Poonian and Shailu...
Apr 30, 2021 | Corporate Finance, Investment Funds, News, Regulatory Compliance
In January 2021, the Capital Markets Modernization Taskforce published its final report after completing its review of the status of Ontario’s capital markets. In its most recent provincial budget, the Government of Ontario indicated that it will proceed with certain...
Apr 30, 2021 | Corporate Finance, Investment Funds, Mortgage and Real Estate Investment Vehicles, News, Regulatory Compliance
As reported in our December 2020 bulletin, on December 7, the Ontario Securities Commission (OSC) released the final amendments to OSC Rule 45-501 Ontario Prospectus and Registration Exemptions (Amendments). The Amendments form part of the changes across Canada which,...
Jan 29, 2021 | Corporate Finance, Investment Funds, News, Regulatory Compliance
In our July 2020 Bulletin we reported on the Consultation Report of Ontario’s Capital Markets Modernization Taskforce. On January 22, the Taskforce released its Final Report after engaging with over 110 stakeholders and receiving over 130 stakeholder comment letters...
Dec 11, 2020 | Corporate Finance, Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On December 7, the Ontario Securities Commission (OSC) released the final amendments to OSC Rule 45-501 Ontario Prospectus and Registration Exemptions (Amendments). The Amendments are a part of the proposed changes across Canada which, in Ontario, will have as one of...