On October 12, 2021, the Ontario government, as part of its Capital Markets Modernization Review, published a draft Capital Markets Act (CMA) and a Capital Markets Act Consultation Commentary (CMA Consultation Commentary). According to the CMA Consultation Commentary, the CMA sets out the regulatory framework…
On October 18, 2021, the Canadian Securities Administrators (CSA) published, for comment, a notice (Notice) regarding proposed National Instrument 51-107 Disclosure of Climate-related Matters (Proposed Instrument). The Proposed Instrument would introduce disclosure requirements regarding climate-related matters for reporting issuers (other than investment funds). According to…
On September 23, 2021 the Ontario Minister of Finance recently approved National Instrument 45-110 Start-Up Crowdfunding Registration and Prospectus Exemptions (NI 45-110) and consequential amendments to other instruments (the Consequential Amendments). NI 45-110 provides harmonized national registration and prospectus exemptions to facilitate securities crowdfunding for…
On September 23, 2021 the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) published a staff notice (Notice) concerning certain advertising activities and marketing strategies by platforms that trade crypto assets (Crypto- Trading Platforms, or CTPs) that may breach certain…
On July 28, 2021, the Canadian Securities Administrators (CSA) published, for comment, proposed amendments to National Instrument 45-106 Prospectus Exemptions (NI 45-106) to introduce a new prospectus exemption available to reporting issuers that are listed on a Canadian stock exchange (the Listed Issuer Financing Exemption)….
On July 15, 2021, the Canadian Securities Administrators (CSA) published final amendments of National Instrument 31-101 Registration Requirements, Exemptions and Ongoing Registration Obligations designed to improve protection of older and vulnerable clients across Canada. According to the CSA, the amendments strengthen protection of older and…
On August 12, 2021, the Canadian Securities Administrators (CSA) are published for a 60-day comment period proposed changes (the Proposed Changes) National Instrument 41-101 General Prospectus Requirements (41-101CP) and its Companion Policy 41-101CP. The proposed changes will amend Form 41-101F1 Information Required in a Prospectus…
On July 8, 2021, the Canadian Securities Administrators (CSA) signed an innovative functions co-operation agreement with the Securities and Futures Commission of Hong Kong (SFC). The members are the securities regulatory authorities in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick and Nova Scotia….
On August 3, 2021, the Canadian Securities Administrators (CSA) released a framework for replacing the two major Canadian Self- Regulatory Organizations (SROs) – the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association (MFDA) with a single regulatory entity (Position Paper)….
On June 17, 2021, the TSX Venture Exchange (the “Exchange”) followed up on a previously issued bulletin (the “April 8, 2020 Bulletin”) that provided notice that, in response to the COVID-19 pandemic, the Exchange would provide temporary relief (the “Temporary Relief”) from certain requirements of…