In early January 2022, the Canadian Securities Administrators (CSA) published the Amendments to National Instrument 52-108 Auditor Oversight (Amendments) and Changes to Companion Policy 52-108 Auditor Oversight (CP Changes), (collectively, the Revisions). The Amendments require actions by reporting issuers and participating audit firms that will…
Dear Friends and Colleagues, BAX Securities Law, a firm that I founded in 2013, has been included by the Canadian Lawyer on a shortlist of top Canadian boutique law firms that practise in the corporate law area. I am honoured that BAX Securities Law received…
On December 6, 2021, the Canadian Securities Administrators (CSA) published a notice regarding temporary exemptions from certain base shelf prospectus requirements for qualifying well-known seasoned issuers (WKSI). The exemptions allow an issuer that meets WKSI qualifications and certain conditions, to file a final base shelf…
BAX Securities Law has been named as a Top 10 Corporate Boutiques in Canada. BAX and its founder, Barbara Hendrickson, were recently featured in a Canadian Lawyer magazine article. The article discusses the “cost-effective, business oriented service” of leading Canadian law firms such as BAX…
On November 24, 2021, the TSX Venture Exchange (the TSXV) announced changes to the TSXV’s Corporate Finance Manual regarding Security Based Compensation. The following amendments have been made: Policy 4.4 – Incentive Stock Options has been amended and renamed Policy 4.4 – Security Based Compensation…
In recent years the use of REITs and Limited Partnerships have expanded in the last few years and investments in real estate through these types of structure have become a common way for investors to participate in real estate projects. The attached presentation provide a…
On November 4, 2021, the Ontario Securities Commission issued a press release referencing the Recommendations on Sustainability-Related Practices, Policies, Procedures and Disclosure in Asset Management (the Final Report) published by the Sustainable Finance Task Force (STF) of the International Organization of Securities Commissions (IOSCO) on…
On October 12, 2021, the Ontario government, as part of its Capital Markets Modernization Review, published a draft Capital Markets Act (CMA) and a Capital Markets Act Consultation Commentary (CMA Consultation Commentary). According to the CMA Consultation Commentary, the CMA sets out the regulatory framework…
On October 18, 2021, the Canadian Securities Administrators (CSA) published, for comment, a notice (Notice) regarding proposed National Instrument 51-107 Disclosure of Climate-related Matters (Proposed Instrument). The Proposed Instrument would introduce disclosure requirements regarding climate-related matters for reporting issuers (other than investment funds). According to…
On September 23, 2021 the Ontario Minister of Finance recently approved National Instrument 45-110 Start-Up Crowdfunding Registration and Prospectus Exemptions (NI 45-110) and consequential amendments to other instruments (the Consequential Amendments). NI 45-110 provides harmonized national registration and prospectus exemptions to facilitate securities crowdfunding for…