On June 23, 2020, the Canadian Securities Administrators (CSA) released its fiscal year 2019/20 Enforcement Report which outlines how securities regulators are protecting investors and the integrity of Canada’s capital markets. Highlights from the fiscal year 2019/20 Enforcement Report include: 66 Investor Alerts were issued to…
On June 9, 2020 the Investment Industry Regulatory Organization of Canada (IIROC) released its proposal, “Improving Self-Regulation for Canadians”, outlining the benefits of bringing together IIROC and the Mutual Fund Dealers Association of Canada (MFDA) as divisions of a consolidated self-regulatory organization (SRO). In the…
On June 10, 2010 the Canadian Securities Administrators (CSA) announced steps to facilitate portfolio managers’ use of client relationship management specialists. These actions aim to better align the CSA’s assessment of relevant investment management experience with portfolio managers’ evolving business models. Many portfolio managers now…
The Canadian Securities Administrators published on June 4, 2020 final amendments that streamline at-the-market (ATM) distributions in Canada, and reduce regulatory burden for issuers, exchanges and investment dealers. ATM distributions will now be available to issuers without having to incur the time and cost of applying for…
The securities regulatory authorities in Alberta, British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon (the participating jurisdictions) published on May 29, 2020 temporary blanket relief for registrants and unregistered capital markets participants from certain financial…
The Canadian Securities Administrators (CSA) released a notice on May 29, 2020 reminding reporting issuers of the importance of disclosing high quality financial information to investors. The CSA encourages issuers to visit the CSA COVID-19 Information Hub for further guidance and information, including COVID-19: Continuous Disclosure Obligations and…
On June 4, 2020, the Canadian Securities Administrators (CSA) released a notice that summarizes the results of a review on the mineral resource estimates disclosed in mining issuers’ technical reports under National Instrument 43-101 Standards of Disclosure for Mineral Projects. The notice explains how regulators assess…
The Ontario Securities Commission (OSC) announced on May 29, 2020 that it will continue to temporarily waive late fees for market participants impacted by the COVID-19 pandemic. The extensions build on the temporary relief the on April 17, 2020. Late fees will be waived for…
The Canadian Securities Administrators (CSA) recently finalized and expanded the mandatory transparency requirements (the transparency requirements) regarding for government debt securities and corporate debt securities. These changes amend National Instrument 21-101 Marketplace Operation and its related Companion Policy (together, NI -21-101). With these changes, information…
First Published April 3, 2020; Updated April 16, 2020, May 1, 2020 and May 13, 2020 On May 13, 2020 the Canadian Securities Administrators (“CSA”) published an update to the CSA staff’s views on frequently asked questions (FAQs) about the exemptions from certain corporate finance…