With the granting of Royal Assent to Bill C-86 Budget Implementation Act, 2018, No. 2 (Bill C-86) on December 13th, 2018 changes are in store for how corporations maintain their records under the Canada Business Corporations Act (CBCA). Division 6 of Part 4 of Bill…
The British Columbia Securities Commission (BCSC) has published a new policy publication, BCN2019/01: Expiry of BC Instrument 32-517 Exemption from Dealer Registration Requirement for Trades in Securities of Mortgage Investment Entities and registration requirements for persons relying on BCI 32-517 (BCN2019/01). BCN2019/01 addresses the expiry…
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), has published updated suspicious activity guidelines. FINTRAC is Canada’s financial intelligence unit and is tasked with the detection and prevention of money laundering and the financing of terrorist activities. The new, more concise guidelines include…
An article featuring an interview with Barbara Hedrickson, CEO of BAX Securities Law, regarding the November 2018 Supreme Court of Canada (SCC) decision on the constitutionality of Cooperative Capital Markets Regulatory System (CCMR) has been published on the website on the Canadian Bar Association (CBA)….
The Ontario Government has published the results of Expressions of Lottery Interest for retail Cannabis stores (the Lottery) the under Ontario Regulation 468/18 (the Regulation) made under the Cannabis Licence Act, 2018 (the License Act). According to the Alcohol and Gaming Commission of Ontario (AGCO),…
The British Columbia Securities Commission (BCSC) has published updates to National Instrument, N1 41-101, Prospectus Requirements (NI 41-101). These non-material amendments, which deal with Exchange Traded Funds (ETFs), became effective, December 10, 2018. The Amendments to NI 41-101: add a BC carve-out to the meaning…
In late November, 2018, the U.S. Securities and Exchange Commission (SEC) settled registration charges with two issuers of Initial Coin Offerings (ICOs), CarrierEQ Inc. (Airfox) and Paragon Coin Inc. (Paragon). These were the SEC’s first cases imposing civil penalties solely for ICO securities offering registration…
The British Columbia Securities Commission (BCSC) reports that it has found an increased number of deficiencies in compliance among portfolio managers during 2018. The BCSC published these findings in its 2018 BCSC Annual Compliance Report Card (the Report Card). In 2018, the BCSC conducted 23…
On November 14, 2018, the Ontario Government set forth the regime for the licensing and operation of private cannabis stores under Ontario Regulation 468/18 (the Regulation) made under the Cannabis Licence Act, 2018 (the License Act). Generally, the Regulation: establishes a minimum distance of 150…
Earlier this month, the United States Securities and Exchange Commission (SEC) announced settled charges against the founder of a digital token trading platform, EtherDelta, Zachary Coburn with operating an unregistered national securities exchange. This is the SEC’s first enforcement order against such a platform operating…