The British Columbia Securities Commission (BCSC) has acted to protect the investors of one BC-based cryptocurrency exchange while launching an investigation against a second. On October 31, 2019 the counsel representing the Vancouver-based Einstein Exchange (Einstein) had informed the BCSC that its client had planned…
The Ontario Securities Commission has granted limited-time approval to TokenGX Inc. (TokenGX or the Company) for the creation of a blockchain-based security token (token). TokenGX sought approval to create its blockchain-based security token trading platform (the Platform) through the OSC’s Launch Pad. The Company is…
The Ontario Securities Commission (OSC) has overturned a prior OSC ruling and has issued a receipt for the final prospectus of the Bitcoin Fund (the Fund). The Manager of the Fund (3iQ Corp.) announced in October 2018 that the Fund, had filed a non-offering prospectus…
The Canadian Securities Administrators (CSA), along with its participating jurisdictions, is conducting a review of Automatic Securities Disposition Plans (ASDPs). ASDPs allow insiders to carry out preplanned sales of securities of an issuer through an arms-length administrator, according to a predetermined set of instructions. The…
The Government of Ontario’s Ministry of Government and Consumer Services (MGCS) has completed its review of key elements of Ontario business law and is now requesting input from stakeholders. The proposed changes include amendments to the Business Corporations Act (OBCA) and amendments to the Arthur…
On October 2, 2019, the Government of British Columbia introduced proposed legislation that would provide a sweeping set of updates to existing provincial securities law, Bill 33 – 2019, the Securities Amendment Act, 2019 (the Act.) Once given Royal Assent and enacted into law, the…
The TSX Venture Exchange (TSXV) has announced amendments (the Amendments) to its Corporate Finance Manual (the Manual) to reduce the frequency by which directors, officers, promoters, and other insiders (individuals) have to submit a Form 2A (The Personal Information Form or PIF). The Amendments are…
The newly-created Financial Services Regulatory Authority of Ontario (FSRA), has announced a standardized approach to guidance (the New Approach), replacing the legacy systems it had inherited from its predecessor regulatory bodies. This change had come in response to stakeholder requests for clarification. The regulator has…
The Canadian Securities Administrators (CSA), along with its participating jurisdictions, have published Notice and Request for Comment Proposed Amendments to National Instrument 52-108 Auditor Oversight and Proposed Changes to Companion Policy 52-108 Auditor Oversight (together, the Proposed Amendments), for a comment period ending January 1st,…
The Canadian Securities Administrators (CSA), along with its participating jurisdictions, have published Amendments to NI-31-103, Registration Requirements, Exemptions and Ongoing Registrant Obligations, and to its allied companion policy, CP-31-103 (together, the Amendments). The Amendments once adopted will require registrants to address material conflicts of interest…