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Amendments to National Instrument 41-101 General Prospectus Requirements & National Instrument 81-101 Mutual Fund Prospectus Disclosure

The Canadian Securities Administrators (CSA) have announced the final amendments (Amendments) to National Instrument 41-101 General Prospectus Requirements (NI 41-101) and National Instrument 81-101 Mutual Fund Prospectus Disclosure (NI 81-101).  The Amendments extend the lapse date for investment funds in continuous distribution from 12 months…

OSC Approves CIRO’s Integrated Fee Model

The Ontario Securities Commission (OSC) has approved CIRO’s proposed integrated fee model (Fee Model) and related amendments to the Mutual Fund Dealer Rules (Amendments). The Fee Model includes changes to the: Annual Dealer Member fee; Membership application fees and fees for Dealer Member business changes;…

Update on the CSA Project to Modernize Mineral Disclosure Requirements

The Canadian Securities Administrators (CSA) are proposing to repeal and replace the current National Instrument 43-101 Standards of Disclosure for Mineral Projects (the Instrument) and Form 43-101F1 Technical Report (the Form) with a streamlined instrument and Form (The Modernized Disclosure Requirements). The regulator is also…

Securities Law Considerations in Private Company Transactions

BAX Securities Law is consistently recognized as one of Canada’s leading boutique capital markets firms and has earned a Best Law Firm designation from Best Lawyers, one of the world’s leading legal publications. Our clients include domestic and international corporations, entrepreneurial and growth-oriented businesses and…

Strengthening American Leadership in Digital Financial Technology

A recent Executive Order issued by U.S. President Donald Trump signals a dramatic shift to pro-cryptocurrency policies. The Executive Order, Strengthening American Leadership in Digital Financial Technology Strengthening American Leadership in Digital Financial Technology (The Executive Order), takes a multi-pronged approach, including but not limited…

SEC Announces Formation of New Crypto Asset Task Force

The U.S. Securities and Exchange Commission (SEC) published a press release on January 21, 2025 (“Press Release”) stating that it has launched a task force dedicated to developing a regulatory framework for crypto assets (“Task Force”). SEC Commissioner Hester Peirce will lead the task force….