On May 10, 2018, the Toronto Stock Exchange (TSX) issued Staff Notice 2018-003, Prospectus Offerings and Private Placements (the Staff Notice), which provides guidance regarding pricing a prospectus offering or private placement where there has been recent disclosure of material information. Generally, the TSX requires…
Since their inception, cryptocurrencies and their underlying blockchain technologies have been touted by their promoters as both secure and anonymous. Unfortunately, as a number of recent breaches by hackers into blockchain-based cryptocurrency exchanges have shown, this is not the case. Blockchain technology, which relies upon…
The provinces and territory (British Columbia, New Brunswick, Ontario, Prince Edward Island, Saskatchewan, and Yukon – the Participating Jurisdictions) participating in the development of the Cooperative Capital Markets Regulatory System (Cooperative System) have published for comment a draft prospectus and related registration exemption regulations (the…
The Canadian Securities Administrators (CSA) has published for comment Proposed National Instrument 93-102 Derivatives: Registration and Proposed Companion Policy 93-102 Derivatives: Registration (Together, these are referred to as the Proposed Instrument.) The 150-day comment period ends September 17, 2018. The Proposed Instrument, together with the Proposed…
Barbara Hendrickson will speak at the Canadian Bar Association Environmental, Energy & Resources Law Summit on May 31 – June 1, 2018 in Winnipeg Manitoba on “Environment and Financial Markets” Barbara will speak on a CBA panel which will review the roles of legal counsel…
The Canadian Securities Administrators (CSA) has published for comment CSA Staff Notice 61-303 and Request for Comment Soliciting Dealer Arrangements (The Staff Notice). The Staff Notice outlines regulatory issues raised by soliciting dealer arrangements and seeks input on the practice. The 60-day comment period ends…
The Ontario Securities Commission (OSC) announced today that its Mediation Program, which began as a pilot in 2015, will now continue on a permanent basis. The Mediation Program, the first and only of its kind in Canada offered by a securities regulator provides a forum…
*Article available in English and Chinese – Criminals often make the funds gained from their illegal activities appear legitimate by money laundering. In contrast, terrorist financing provides funds for terrorist activities, which may involve funds raised from legitimate and/or criminal sources. Canadian anti-money laundering legislations…
*Article available in English and Chinese – Companies can raise funds from investors by “going public. ̋ “Going public” means offering equity securities to the public. A distribution of securities must be qualified by a prospectus that is approved by the relevant securities regulators,…
*Article available in English and Chinese – The Competition Act is a federal statute administered and enforced by the Canadian Competition Bureau and the Public Prosecutions Service of Canada. The purpose of the Competition Act is to encourage competition in the Canadian marketplace, thereby benefiting…