On August 29, 2013 the Ontario Securities Commission (“OSC”) published a notice which indicated that they are considering the following new or expanded exemptions from the prospectus requirements:1. Crowdfunding exemptionCrowdfunding is a term used to describe a method of raising small amounts of money from…
On August 15, 2013 the CSA published a Consultation Paper focused on issues that are directly related to the accuracy, transparency and integrity of the proxy voting infrastructure for a 90-day comment period. The Paper outlines and seeks feedback on a proposed approach to address…
Private Placements – Lapsing of Temporary ReliefOn August 17, 2012, the TSX V implemented, on a temporary basis, relief from certain existing pricing requirements related to Private Placement financings. The three temporary measures (“Relief Measures”) are as follows:Allowing a share/unit offering with an offering price…
The Ontario Securities Commission (OSC) recently announced a request for comments on OSC Staff Consultation Paper 58-401 Disclosure Requirements Regarding Women on Boards and in Senior Managementon a new proposal which would require TSX-listed companies to provide disclosure regarding women on boards and in senior management in…
On July 30, 2013 the Ontario Securities Commission (“OSC”)published a Staff Consultation Paper 58-401 Disclosure Requirements regarding Women on Boards and in Senior Management(“Paper”) which discussed low levels of representation of women on the boards of Canadian public companies. The Paper arises out of a…
On March 14, 2013, the Canadian Securities Administrators (CSA) published for comment proposed National Instrument 62-105 Security Holder Rights Plans (Proposed Rule) and proposed Companion Policy 62-105CP Security Holder Rights Plans (Proposed Policy).The Proposed Rule and Policy establish a regulatory framework for Rights Plans or…
On March 13, 2013 the Canadian Securities Administrators (CSA) published for comment proposed amendments to National Instrument 62-103 Early Warning System and Related Take-Over Bid and Insider Reporting Issues (NI 62-103) (Proposed Amendment). The objective of the Proposed Amendment is to provide greater transparency about…
The following is a brief summary reviewing crowdfunding and other capital raising prospectus exemptions proposed by the Ontario Securities Commission (OSC). “Crowdfunding” refers to the process by which many investors of small amounts of funds come together to finance organizations with limited access to conventional…
Effective February 11, 2013, the Canadian Securities Administrators amended National Instrument 54-101 – Communication with Beneficial Owners of Securities of a Reporting Issuer (“NI 54-101”) and National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) which introduced the “notice-and-access” procedure (described in more detail below),…