Matthew Merkley on Canada

Pas de pause estivale pour les ACVM – Développements en droit des valeurs mobilières

Les Autorités canadiennes en valeurs mobilières (les « ACVM ») ont récemment fait le point sur diverses initiatives en cours concernant les obligations d’information continue et les dépôts de prospectus des émetteurs...more

8/19/2024 / Canada , Canadian Securities Administration , Climate Change , Disclosure Requirements , Diversity

No Summer Break for the CSA – Selected Securities Law Developments

The Canadian Securities Administrators (CSA) recently provided updates on various outstanding initiatives concerning continuous disclosure obligations and prospectus filings in respect of non-investment fund reporting...more

8/14/2024 / Canada , Canadian Securities Administration , Climate Change , Disclosure Requirements , Diversity

Modification possible des exigences de la LCSA en matière de divulgation de renseignements sur la diversité

Depuis le 1er janvier 2020, les sociétés ayant fait appel au public (en général, les sociétés ouvertes) régies par la Loi canadienne sur les sociétés par actions (la « LCSA ») sont tenues de fournir des renseignements sur la...more

1/18/2024 / Board of Directors , Business Corporation Act , Canada , CBCA , Corporate Governance , Disclosure Requirements , Diversity

Diversity Disclosure Requirements for CBCA Public Companies Potentially Changing

Since January 1, 2020, distributing corporations (generally, public companies) governed by the Canada Business Corporations Act (CBCA) have been required to provide diversity disclosures regarding “designated groups,” as...more

1/11/2024 / Board of Directors , Business Corporation Act , Canada , CBCA , Corporate Governance , Disclosure Requirements , Diversity

Les ACVM font état de tendances généralement positives concernant la représentation féminine aux conseils d’administration

Selon les Autorités canadiennes en valeurs mobilières (les « ACVM »), la proportion de femmes siégeant à des conseils d’administration (« CA ») de sociétés ouvertes au Canada a augmenté progressivement pour une neuvième année...more

10/27/2023 / Board of Directors , Canada , Canadian Securities Administration , Disclosure Requirements , Diversity , Woman Board Members

CSA Reports Mostly Positive Trends in Representation of Women on Boards

According to the Canadian Securities Administrators (CSA), the proportion of board seats held by women at public companies in Canada has gradually increased again for the ninth year in a row. In addition, at public companies...more

10/18/2023 / Board of Directors , Canada , Canadian Securities Administration , Disclosure Requirements , Diversity , Woman Board Members

CSA Provides Update on Proposed Continuous Disclosure Reforms

In May 2021, the Canadian Securities Administrators (CSA) published for comment proposed amendments to National Instrument 51-102 – Continuous Disclosure Obligations and other related changes to securities laws and guidance...more

10/9/2023 / Canada , Canadian Securities Administration , Disclosure Requirements , Investors

Les ACVM présentent des changements possibles aux obligations d’information sur la diversité

Dans un nouvel avis, les Autorités canadiennes en valeurs mobilières (les « ACVM ») proposent de modifier le régime de présentation de l’information « se conformer ou s’expliquer » en ce qui a trait à la diversité au sein des...more

4/24/2023 / Canada , Canadian Securities Administration , Corporate Governance , Disclosure Requirements , Diversity

CSA Discloses Diversity of Potential Changes to Diversity Disclosures

In a new notice, the Canadian Securities Administrators (CSA) proposes to update the “comply or explain” disclosure regime concerning diversity on boards of directors and in executive officer positions at public companies in...more

4/19/2023 / Canada , Canadian Securities Administration , Corporate Governance , Disclosure Requirements , Diversity

ACVM : La représentation des femmes au sein des conseils d’administration continue de progresser

Selon les Autorités canadiennes en valeurs mobilières (les « ACVM »), la proportion de femmes siégeant au conseil d’administration de sociétés ouvertes canadiennes a continué d’augmenter, pour la 8e année consécutive....more

11/17/2022 / Board of Directors , Canada , Canadian Securities Administration , Corporate Governance , Disclosure Requirements , Diversity , Woman Board Members

ACVM : Nouvelles indications quant à la conformité au règlement sur l’information concernant les mesures financières non conformes...

Le 3 novembre 2022, les Autorités canadiennes en valeurs mobilières (les « ACVM ») ont publié l’Avis 51-364 du personnel des ACVM (l’« Avis 51-364 »), lequel présente un sommaire des résultats des examens de l’information...more

11/17/2022 / Canada , Canadian Securities Administration , Disclosure Requirements , Financial Statements , Non-GAAP Financial Measures

CSA Provides Guidance on Compliance with Non-GAAP Financial Measures Rule

On November 3, 2022, the Canadian Securities Administrators (CSA) published CSA Staff Notice 51-364 (the Report) to summarize the results of continuous disclosure reviews conducted by CSA staff over the two years ending March...more

11/13/2022 / Canada , Canadian Securities Administration , Disclosure Requirements , Financial Statements , Investors , Non-GAAP Financial Measures

CSA Reports Further Progress on Advancement of Women on Boards

According to the Canadian Securities Administrators (CSA), the proportion of board seats held by women at Canadian public companies has incrementally increased again, for the eighth year in a row. However, the advancement of...more

11/9/2022 / Board of Directors , Canada , Canadian Securities Administration , Corporate Governance , Disclosure Requirements , Diversity , Woman Board Members

ACVM : mise à jour des obligations d’information liée au changement climatique

CONTEXTE - Comme nous l’avons mentionné dans notre Bulletin Blakes d’octobre 2021 intitulé Les ACVM lancent une consultation sur les obligations d’information liée au changement climatique, le 18 octobre 2021, les...more

11/7/2022 / Canada , Canadian Securities Administration , Climate Change , Comment Period , Disclosure Requirements , Publicly-Traded Companies

CSA Provides Update on Proposed Climate-Related Disclosure Rules

BACKGROUND - As we reported in our October 2021 Blakes Bulletin: CSA Seeks Comments on Climate-Related Disclosure Rules, on October 18, 2021, the Canadian Securities Administrators (the CSA) issued a notice and request for...more

10/25/2022 / Canada , Canadian Securities Administration , Climate Change , Comment Period , Disclosure Requirements , Publicly-Traded Companies

Le saviez-vous? Dix faits amusants liés au droit des valeurs mobilières

Bien que les faits amusants qui suivent concernant le droit des valeurs mobilières ne soient peut-être pas de ceux que l’on serait impatient de raconter (ou d’entendre) lors d’un dîner (vous vous souvenez de ce genre...more

6/1/2022 / Board of Directors , Canada , Corporate Governance , Disclosure Requirements , Diversity , Ontario Securities Commission (OSC)

Did You Know? Ten Securities Law Fun Facts

While these fun facts may not be the ones anyone would look forward to bringing up (or hearing) at a dinner party (remember those?), the following facts about securities law may include some you did not know (or remember)....more

5/27/2022 / Board of Directors , Canada , Corporate Governance , Disclosure Requirements , Diversity , Ontario Securities Commission (OSC)

Les affaires sont les affaires, mais certaines activités comptent plus que d’autres lors d’une acquisition

Bonne nouvelle, les Autorités canadiennes en valeurs mobilières (« ACVM ») ont modifié et harmonisé leur approche en ce qui a trait à l’interprétation des obligations aux termes desquelles un émetteur est tenu d’inclure...more

4/28/2022 / Canada , Canadian Securities Administration , Capital Markets , Initial Public Offering (IPO)

Business Is Business, But Some Acquired Businesses Are More Primary Than Others

In a welcome development, the Canadian Securities Administrators (CSA) has harmonized and updated its approach to interpreting the financial statement requirements in respect of an issuer’s “primary business” (Primary...more

4/22/2022 / Canada , Canadian Securities Administration , Capital Markets , Initial Public Offering (IPO)

Entrée en vigueur des modifications à la LCSA visant l’élection des administrateurs

Le 31 août 2022, certaines modifications (les « modifications ») tant attendues à la Loi canadienne sur les sociétés par actions (la « LCSA ») et à des règlements connexes à l’égard du processus d’élection des administrateurs...more

4/5/2022 / Business Corporation Act , Canada , CBCA , Corporate Governance , Shareholder Proposals , Shareholders

Coming Soon: Changes to CBCA Director Elections – The Sequel

Effective August 31, 2022, certain long-awaited amendments (Amendments) to the Canada Business Corporations Act (CBCA) and related regulations administered by the Department of Industry (Regulations) impacting director...more

3/29/2022 / Business Corporation Act , Canada , CBCA , Corporate Governance , Shareholder Proposals , Shareholders

Représentation des femmes au sein des conseils d’administration : les ACVM notent une lente progression et fournissent de...

Bien que certains progrès se soient réalisés au chapitre de la diversité des genres dans les conseils d’administration et les postes de haute direction de sociétés ouvertes canadiennes, ces progrès s’accomplissent lentement....more

11/23/2021 / Board of Directors , Canada , Canadian Securities Administration , Corporate Governance , Disclosure Requirements , Diversity , Woman Board Members

Représentation féminine dans les conseils d’administration : la pression monte sur les sociétés canadiennes

Les sociétés canadiennes subissent de plus en plus de pression pour augmenter le nombre de femmes dans leur conseil d’administration et leur équipe de haute direction. Il semblerait, en fait, que les sociétés dont le conseil...more

11/18/2021 / Board of Directors , Business Corporation Act , Canada , Corporate Governance , Corporate Social Responsibility , Diversity , Environmental Social & Governance (ESG) , Woman Board Members

CSA Reports Slow but Continuing Progress on Gender Diversity in the Boardroom and Provides New Guidance on Gender Diversity...

While some progress is being made in adding gender diversity to boards and executive officer positions of Canadian public companies, progress remains slow, as found by the Canadian Securities Administrators (CSA) in their...more

11/18/2021 / Board of Directors , Canada , Canadian Securities Administration , Corporate Governance , Disclosure Requirements , Diversity , Woman Board Members

Pressure Building on Canadian Companies to Increase Female Representation on Boards

Canadian companies are facing growing pressure to increase the representation of women on their boards and in executive officer positions. There is evidence that suggests that companies with a greater balance of women on...more

11/11/2021 / Board of Directors , Business Corporation Act , Canada , Corporate Governance , Corporate Social Responsibility , Diversity , Environmental Social & Governance (ESG) , Woman Board Members

Matthew Merkley

Blake, Cassels & Graydon LLP

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