by Barbara Hendrickson | Jun 30, 2017
On June 15, 2017, the Ontario Securities Commission (“OSC”) released OSC Staff Notice 45-715, 2017 Ontario Exempt Market Report (“Report”) which summarizes capital raising activity in 2015 and 2016 by corporate (non-investment fund) issuers in Ontario’s exempt market....
by Barbara Hendrickson | Jun 9, 2017
On May 18, 2017, the Canadian Securities Administrators (“CSA”) released CSA Staff Notice 31-350 Guidance on Small Firms Compliance and Regulatory Obligations (“Staff Notice”). The Staff Notice was the result of a two-year compliance review of 65 small firms, lasting...
by Barbara Hendrickson | May 29, 2017
On May 21, 2017 the Canadian Securities Administrators (“CSA”) released CSA Staff Notice 33-319 Status Report on CSA Consultation Paper 33-404 Proposals to Enhance the Obligations of Advisers, Dealers, and Representatives Toward Their Clients (“Staff Notice”). The...
by Barbara Hendrickson | May 12, 2017
On April 6, 2017 the Canadian Securities Administrators (“CSA”) released CSA Consultation Paper 51-404 Considerations for Reducing Regulatory Burden for Non-Investment Fund Reporting Issuers. The goal of the paper is to identify and consider areas of securities...
by Barbara Hendrickson | May 12, 2017
On April 20, 2017, the Canadian Securities Administrators (“CSA”) published CSA Staff Notice 45-323 Update on Use of the Rights Offering Exemption in National Instrument 45-106 Prospectus Exemptions which reviewed the use of the revised right offering exemption which...
by Barbara Hendrickson | May 12, 2017
On April 26, 2017, the Canadian Securities Administrators (“CSA”) (other than the British Columbia Securities Commission) published for comments, proposed National Instrument 91-102 Prohibition of Binary Options and proposed Companion Policy 91-102 Prohibition of...
by Barbara Hendrickson | May 3, 2017
Introduction Mortgage investment corporations (“MICs”) are created under section 130.1 of the Income Tax Act which sets out the rules that apply to mortgage investment corporations and their shareholders. MICs primarily invest in mortgages including...
by Barbara Hendrickson | May 1, 2017
The recent Superior Court of Justice, Divisional Court decision in David Charles Phillips and John Russell Wilson v the Ontario Securities Commission 2016 ONSC 7901 (“Appeal Decision”) provides important insights into the application of the test for...
