On May 26, 2016, the Toronto Stock Exchange (TSX) published for comment proposed amendments to Part IV and Part VI of the TSX Company Manual (Manual). If adopted, the proposed amendments would introduce website disclosure...more
In the second round of public comments on the Ontario Securities Commission’s (OSC) proposed whistleblower program (Program), stakeholders expressed continued concerns that the Program, as outlined in OSC Policy 15-601...more
In the five months since the federal Liberal government took office, it has remained largely silent on the future of the cooperative capital markets regulatory system (Cooperative System), even as Alberta and Quebec maintain...more
Comments on the revised consultation draft of the provincial/territorial Capital Markets Act (CMA) and the draft initial regulations (Initial Regulations and, together with the CMA, the Consultation Drafts) for the proposed...more
3/10/2016
/ Banks ,
Board of Directors ,
Canada ,
Capital Markets ,
Capital Markets Act (CMA) ,
Derivatives ,
Due Diligence ,
Misrepresentation ,
Ontario Securities Act ,
Over The Counter Derivatives (OTC) ,
Personal Liability ,
SRO
On September 28, 2015, the Canadian Securities Administrators (CSA) released a staff notice summarizing the findings from its review of the corporate governance disclosure of non-venture issuers related to policies regarding...more
On August 25, 2015, a revised consultation draft of the uniform provincial and territorial Capital Markets Act (CMA) and draft initial regulations under the CMA (Initial Regulations and, together with the CMA, the...more
9/16/2015
/ Business Associates ,
Canada ,
Capital Formation ,
Consultation ,
Crowdfunding ,
Dealers ,
Exemptions ,
Jurisdiction ,
Market Participants ,
Proposed Regulation ,
Provincial Capital Markets Act ,
Securities ,
Securities Dealers
Earlier this year, the Canadian Coalition of Good Governance (CCGG) released its publication “Shareholder Involvement in the Director Nomination Process: Enhanced Engagement and Proxy Access”, proposing enhanced proxy access...more
9/11/2015
/ Board of Directors ,
Business Corporation Act ,
Canada ,
Corporate Governance ,
Dodd-Frank ,
Majority Voting Policies ,
Proposed Regulation ,
Proxy Access Rule ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Shareholders
Last month, the U. S. Securities and Exchange Commission (SEC) proposed rules (Proposal) directing U.S. securities exchanges and associations to require companies to adopt clawback policies that would mandate executive...more
A panel of legal practitioners and academics appointed by Ontario’s Ministry of Government and Consumer Services (Panel) has recommended potential updates and revisions to a number of corporate and commercial Ontario statutes...more
With a federal election scheduled for October 19, 2015, recent amendments to the Canada Elections Act will soon be put into practice. The Fair Elections Act (FEA) passed on June 12, 2014, has increased individual contribution...more
The public comments on the Ontario Securities Commission (OSC)’s proposed whistleblower program (Program) evidence considerable concern that the Program could undermine issuers’ internal reporting and compliance programs,...more
7/9/2015
/ Anti-Retaliation Provisions ,
Canada ,
Chief Compliance Officers ,
Compliance ,
Conflicts of Interest ,
Corporate Governance ,
Corporate Officers ,
Directors ,
Incentives ,
Internal Reporting ,
Ontario Securities Commission (OSC) ,
Whistleblower Awards ,
Whistleblowers
The Ontario government has amended Ontario’s Securities Act (Act) to expand the scope of prohibited insider trading and enhance the record-keeping requirements imposed upon capital market participants in the province. This...more
The Ontario government has amended Ontario’s Securities Act (Act) to expand the scope of prohibited insider trading and enhance the record-keeping requirements imposed upon capital market participants in the province. This...more
In a settlement agreement recently endorsed by the Ontario Securities Commission (OSC), respondent Anand Hariharan agreed to settle insider trading allegations made by OSC enforcement staff (Staff) against him. The settlement...more
On April 16, 2015, the council of ministers (Council) for the proposed cooperative capital markets regulatory system (Cooperative System) announced that the Cooperative System is now expected to be operational by the fall of...more
On April 30, 2015, the Canadian Securities Administrators (CSA) adopted National Policy 25-201 Guidance for Proxy Advisory Firms (Policy), effective on that date. ...more
The federal government’s recently released 2015 Budget (Budget) indicates that the government will be proposing amendments to the Canada Business Corporations Act (CBCA) relating to gender diversity, director elections,...more
Staff of the Ontario Securities Commission (OSC) has released for public comment a consultation paper on a proposed whistleblower program (Program), under which whistleblowers would be eligible for a financial reward of up to...more
Comments on the consultation drafts of the uniform provincial capital markets legislation, Provincial Capital Markets Act (PCMA), and new federal capital markets legislation, Capital Markets Stability Act (CMSA),...more