The Canadian Securities Administrators (CSA) on October 29, 2020 published its biennial report on its continuous disclosure review program (Report). The CSA’s continuous disclosure review program assesses the compliance of issuers’ continuous disclosure documents with securities law and aims to help improve the completeness, quality…
On October 29, 2020, the Ontario Securities Commission (OSC) announced that it has created a new branch – the Office of Economic Growth & Innovation (Innovation Office), which is “focused on supporting economic growth and innovation in Ontario’s capital markets.” and a Charter “to build a…
Barbara Hendrickson, the managing partner and founder of BAX Securities Law, has been placed on the ReferToHer list as an expert in the Securities & Capital Markets area. ReferToHer was launched in June 2019, as a directory of experienced women lawyers in Canada. (see: https://refertoher.com)…
BAX Securities Law (BAX) is pleased to announce that for the third time it has been ranked as one of the Top 10 Corporate Boutique law firms in Canada by Canadian Lawyer. It also received this prestigious ranking for 2016-2017 and 2018-2019. Canadian Lawyer selected Canada’s top…
On October 13, 2020, Financial Services Regulatory Authority (FSRA) published its proposed 2021-22 Statement of Priorities and Budget for public consultation. FSRA is inviting the general public and all stakeholders to review and provide feedback on the proposed 2021-22 Statement of Priorities and Budget. The draft…
On October 5, 2020 the Financial Services Regulatory Authority of Ontario (FSRA) announced that it is developing proposed guidance – Interpretation and Approach guidance that identifies higher risk offerings and sets out enhanced disclosures by co-operative corporations (co-ops) that are raising capital. The Co-operative Corporations Act (CCA) requires…
On October 8, 2020 the Financial Services Regulatory Authority (FSRA) published a summary of their activities to update the regulation of syndicated mortgages to assess risks and build frameworks and resources to deter ‘deceptive and fraudulent financial services practices and protect consumers’ including the following:…
On October 8, 2020 Barbara Hendrickson gave a Zoom presentation to the Toronto Business Lawyers Association on recent enforcement initiatives by the Ontario Securities Commission against participants in the securities markets. The presentation discusses recent changes in securities laws and enforcement actions by the OSC…
On September 16, 2020 the TSX Venture Exchange (the “Exchange”) issued a bulletin on minimum pricing requirements. The Exchange had previously issued a bulletin (the “April 8, 2020 Bulletin”) providing notice that in response to the COVID-19 pandemic, the Exchange would provide temporary relief (the…
The Canadian Securities Administrators (CSA) published a notice on September 17, 2020 for comment proposed changes to the offering memorandum prospectus exemption. The changes are reflected in proposed amendments to National Instrument 45-106 Prospectus Exemptions (NI 45-106), as well as proposed changes to Companion Policy 45-106CP Prospectus Exemptions (proposed…