In its recent MFDA Special Report on Securities Industry Self-Regulation (the Report), The Mutual Fund Dealers Association (MFDA) has proposed the creation of a new securities regulator that if adopted, would replace MFDA. The Report,…
The Canadian Securities Administrators (CSA) have published CSA Staff Notice 23-326, Order Protection Rule: Market Share Threshold for the period April 1, 2020 to March 31, 2021 (the Staff Notice and Proposed Rule), for a…
Two recent announcements, one in the United States, and the other in the European Union, provide further evidence that securities regulators are paying closer to attention to climate change disclosure by market participants. A recent…
The securities regulators of Alberta, Manitoba, New Brunswick, Nova Scotia, Ontario, Quebec, and Saskatchewan (the participating jurisdictions) have jointly published CSA Multilateral Staff Notice 58-311 Report on Fifth Staff Review of Disclosure regarding Women on…
The Canadian Securities Administrators (CSA) has published CSA Notice 23-325, Update on Trading Fee Rebate Pilot Study (the Update) on its plans to proceed with the Trading Fee Rebate Pilot Study (the Pilot Study), which…
In the U.S., stablecoins may be regulated by two bills recently proposed by members of Congress. The first bill, “Stablecoins are Securities Act of 2019,” aims to classify “managed stablecoins” as securities. The second bill,…
The Canadian Securities Administrators (CSA) published CSA Staff Notice 21-327 Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets (the Staff Notice) on January 18, 2020. The objective of…
With recent news breaking that Barron’s fourth-annual ranking of big-cap equity funds receiving a “high” or “above average” sustainability rating from Morningstar substantially outperforming those with lower sustainability ratings, you might be forgiven to think…
The Canadian Securities Administrators (CSA) has published CSA Consultation Paper 51-405 Consideration of an Access Equals Delivery Model for Non-Investment Fund Reporting Issuers (the Consultation Paper). The Consultation Paper seeks opinion from stakeholders regarding the…
Co-Authored by: Artem Kobzev * This article only deals with US corporations and is not applicable to US individuals An unlimited liability corporation (“ULC”) is a unique corporate structure in which shareholders may incur personal…