Capital Markets Capital Markets

SEC issues guidance regarding activities of proxy advisory firms

Last week, the SEC issued guidance that voting advice communications from proxy advisory firms are generally solicitations subject to SEC antifraud...

Listing in the REIN: Cruel and unusual punishment under the Charter?

Does the automatic listing in the Register of enterprises ineligible for public contracts constitute cruel and unusual punishment within the meaning...

OSC Burden Reduction Initiative – Revisiting the 2003 Regulatory Burden Task Force

As the OSC continues to embark on its Burden Reduction Initiative, we think it is a worthwhile exercise to look back at the Commission’s 2003...

Canadian government introduces tax legislation applying to employee stock options granted on or after January 1, 2020

On June 17, 2019, the Canadian government tabled a Notice of Ways and Means Motion with proposed amendments to the Income Tax Act (Canada) to...

OSC adopts pre-filing reviews for mining issuers

On June 6, 2019, the Ontario Securities Commission (OSC) announced by way of Staff Notice the adoption of a pre-filing review regime for mining...

New guidance on soliciting dealer arrangements

The Investment Industry Regulatory Organization of Canada (IIROC) — the investment dealer self-regulatory organization — recently published...

How to draft exclusive vs. non-exclusive jurisdiction clauses

A recent decision from the Court of Appeal for Ontario reminds us that parties using their contracts to select a jurisdiction for hearing disputes...

CSA and IIROC propose regulatory framework for cryptoasset trading platforms

On March 14, 2019, the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) published a...

The take-over bid regime after two years

It has now been over two years since Canada’s take-over bid regime was revamped to provide for a minimum 105-day bid period, a mandatory 50%...

Canadian developments affecting cross-border offerings of securities

With cannabis companies dominating the headlines in 2018, it was easy to overlook other Canadian developments affecting capital markets activities.