Jun 27, 2024 | Investment Funds, Regulatory Compliance
On June 20, 2024, Canadian securities regulators from Ontario, Québec, British Columbia, Saskatchewan, Alberta and Nova Scotia announced an initiative to support capital-raising by early-stage businesses by allowing exempt market dealers (EMDs) to participate as...
Jun 27, 2024 | Investment Funds, Regulatory Compliance
On May 27, 2024, the Financial Services Regulatory Authority of Ontario (FSRA) launched a public consultation on its new proposed rules that will affect all insurers that offer customers individual variable insurance contracts (also known as individual segregated...
May 30, 2024 | Regulatory Compliance
The type and use of promotions for securities has long been scrutinized and regulated. For example, in 2021, the British Columbia Securities Commission (BCSC) released for comment Proposed BCI 51-519 Promotional Activity Disclosure Requirements, which set out a...
Apr 24, 2024 | Investment Funds, Regulatory Compliance
Back in November, 2022 we wrote about CSA Consultation Paper 21-403 Access to Real-Time Market Data, which dealt with concerns about the cost of accessing market data in Canada where there are multiple marketplaces competing for the same securities to trade. The...
Mar 28, 2024 | Regulatory Compliance
In our February bulletin, we wrote about the importance of updating your SEDAR+ profile if the information contained in the profile is inaccurate. Generally, information must be updated no later than 10 days after the date on which the transmitter knew, or reasonably...
Feb 29, 2024 | Regulatory Compliance
The System for Electronic Document Analysis and Retrieval (SEDAR+), is the web-based system that is now used to file, disclose, and search for information regarding firms in Canada’s capital markets. SEDAR+ includes extended search capabilities, access to historical...
Feb 29, 2024 | Regulatory Compliance
One way to spend your time during February’s extra day is considering whether your offering memoranda continue to comply with regulatory requirements. As noted in our bulletin entitled Don’t Stay Away too Long – Revised Guidance Published for Issuers...
Jan 31, 2024 | Regulatory Compliance
On January 11, 2024, the CSA published final rules to permit issuers (other than investment fund issuers, i.e. corporate finance issuers) to adopt an access equals delivery model for most prospectuses. The model does not apply to prospectuses for rights, medium-term...
Nov 30, 2023 | BLG Resource Corner
Our colleagues at BLG LLP have written a number of thought-provoking articles our readers may be interested in, including the following: Understanding the Canadian Investment Regulatory Organization (CIRO): A quick primer OSC issues new summary report with guidance...
Oct 31, 2023 | Corporate Finance, Investment Funds, Regulatory Compliance
The Canadian Securities Administrators (CSA) have indicated they are not immediately moving forward with proposed amendments to modernize the continuous disclosure requirements for non-investment fund reporting issuers. These proposed amendments, published for comment...
Jul 31, 2023 | Canadian Investment Regulatory Organization (CIRO), Client-Focused Reforms (CFRs), Cyber-security and Data Privacy, Investment Funds, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On July 27, 2023, the Ontario Securities Commission (OSC) released its annual report outlining the work staff conducted in 2022/23 (to date). The report has four parts, outlining the OSC’s (i) education and outreach to registrants; (ii) regulatory oversight activities...
Apr 28, 2023 | Regulatory Compliance
Do you think more information is needed about diversity on boards and in the C-suite? Canadian regulators do. But they can’t decide how much more information is enough. As a result, they have published two proposals. One proposal, supported by the securities...
Feb 28, 2023 | Corporate Finance, Corporate Law, Mortgage and Real Estate Investment Vehicles
Significant changes to National Instrument 45-106 Prospectus Exemptions that impact the use of the offering memorandum prospectus exemption are expected to take effect shortly on March 8, 2023. These changes impact issuers using this specific prospectus exemption to...
Jan 31, 2023 | COVID-19, Mortgage and Real Estate Investment Vehicles, Regulatory Compliance
On December 7, 2022, the Ontario Securities Commission (OSC) published OSC Staff Notice 45-718 – Ontario’s Exempt Market, a report on capital raised through prospectus exemptions in the province between 2019 and 2021 (the Report). The scope of the Report is limited to...
