The U.S. Securities and Exchange Commission (SEC) is requesting public input from investors, registrants, and other market participants on climate change disclosure. The SEC has periodically evaluated its regulation of climate change disclosures within the context of its integrated disclosure system. In 2010, the SEC…

The Canadian Securities Administrators (CSA) is alerting all market participants to economic sanctions imposed recently by the Government of Canada under amendments to the Special Economic Measures (Russia) Regulations (the Regulations).   The Regulations, which were amended due to Russia’s invasion of Ukraine, impose broad categories of sanctions…

The Canadian Securities Administrators (CSA) have provided reporting issuers with guidance on virtual shareholder meetings. Since the emergence of the COVID-19 pandemic, many reporting issuers have adopted a virtual format for their shareholder meetings. These meetings are typically conducted either entirely virtually, in place of…

BAX Securities law is pleased to announce that its founder, Barbara Hendrickson, is recognized in the 2022 Canadian Legal Lexpert Directory as a leading lawyer in the area of Corporate Finance & Securities. Barbara Hendrickson was voted as one of the 2022 Leading Legal Practitioners across Canada based on an…

In January 2022, the Canadian Securities Administrators published Staff Notice 81-334, ESG-Related Investment Fund Disclosure (the Staff Notice). The purpose of the Staff Notice is to provide guidance on the disclosure practices of investment funds as they relate to environmental, social and governance (ESG) considerations….

The Canadian Securities Administrators (CSA) is warning the public about investment schemes involving fraudulent websites that solicit investments in foreign exchange (“forex”), binary options and/or crypto assets. In particular, fraudsters continue to capitalize on market interest in crypto assets to lure investors into scams, using…

The Canadian Securities Administrators (CSA) has published for comment a two-staged proposal to modernize the prospectus filing model for investment funds. In keeping with current requirements, investor access to continuous disclosure documents as well as delivery of the Fund Facts and the ETF Facts –…

In late December 2021, the Canadian Securities Administrators (CSA) published the final amendments to National Instrument 33-109 Registration Information (NI-33-109), its related Companion Policy CP 33-109 (CP 33-109) and National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI-3103) and the related Companion Policy CP-103 (CP-103)…

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…