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Canadian Securities Administration Proposed Amendments

Stikeman Elliott LLP

CSA Propose Amendments Related to CSE’s Senior Tier, Majority Voting, Escrow Agreements and More

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The Canadian Securities Administrators (“CSA”) recently published for comment proposed amendments and changes to certain national instruments and policies to: (i) address the Canadian Securities Exchange’s (“CSE”) creation of...more

Blake, Cassels & Graydon LLP

Modèle d’accès aux prospectus des émetteurs assujettis qui ne sont pas des fonds d’investissement : modifications définitives

Le 11 janvier 2024, les Autorités canadiennes en valeurs mobilières (les « ACVM ») ont publié la version définitive des modifications au Règlement 41-101 sur les obligations générales relatives au prospectus, au Règlement...more

Stikeman Elliott LLP

CSA Propose Amendments to Rules for Public Crypto Asset Funds

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The Canadian Securities Administrators (“CSA”) recently published proposed amendments to National Instrument 81-102 Investment Funds (“NI 81-102”) and changes to its companion policy (the “Proposed Amendments”) relating to...more

Blake, Cassels & Graydon LLP

CSA Finalizes Amendments to Implement Access Model for Prospectuses of Non-Investment Fund Reporting

On January 11, 2024, the Canadian Securities Administrators (CSA) published in final form amendments and changes to National Instrument 41-101 – General Prospectus Requirements, National Instrument 44-101 – Short Form...more

Dickinson Wright

Understanding the CSA’s Proposed Shelf Prospectus Regime for Well-Known Seasoned Issuers

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On September 21, 2023, the Canadian Securities Administrators (the “CSA”) published proposed amendments to National Instrument 44-102 Shelf Distributions (“NI 44-102”) as well as to certain other rules and policies in...more

Stikeman Elliott LLP

CSA Propose Amendments to Facilitate Voluntary T+1 Settlement for Mutual Funds

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The Canadian Securities Administrators (“CSA”) have proposed amendments to National Instrument 81-102 Investment Funds (“NI 81-102”) to facilitate voluntary decisions by mutual funds to shorten the settlement cycle for...more

Bennett Jones LLP

Canadian Securities Regulators Propose Permanent Expedited Well-Known Seasoned Issuer Program

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On September 21, 2023, the Canada Securities Administrators (CSA) published a notice and request for comment regarding proposed amendments to National Instrument 44-102—Shelf Distributions (NI 44-102) and other securities law...more

Blake, Cassels & Graydon LLP

Les ACVM proposent des dispenses permanentes pour les émetteurs établis bien connus

Le 21 septembre 2023, les Autorités canadiennes en valeurs mobilières (les « ACVM ») ont annoncé des projets de modification (les « projets de modification ») visant le Règlement 44-102 sur le placement de titres au moyen...more

Blake, Cassels & Graydon LLP

CSA Proposes Permanent Exemptions for Well-Known Seasoned Issuers

On September 21, 2023, the Canadian Securities Administrators (CSA) announced proposed amendments (Proposed Amendments) to National Instrument 44-102 Shelf Distributions (NI 44-102) and certain other instruments and policies...more

Stikeman Elliott LLP

CSA Propose Amendments to Shelf Prospectus Regime for WKSIs

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On September 21, 2023, the Canadian Securities Administrators (“CSA”) announced proposed amendments to National Instrument 44-102 Shelf Distributions (“NI 44-102”) relating to well-known seasoned issuers ("WKSIs")as well as...more

Blake, Cassels & Graydon LLP

Les ACVM viennent sceller les règles relatives à la présentation du coût total des fonds d’investiss

Le 20 avril 2023, les Autorités canadiennes en valeurs mobilières (les « ACVM ») et le Conseil canadien des responsables de la réglementation d’assurance ont annoncé des modifications visant à rehausser les obligations...more

Blake, Cassels & Graydon LLP

CSA Finalizes Total Cost Reporting Rules for Investment Funds

On April 20, 2023, the Canadian Securities Administrators (CSA) and the Canadian Council of Insurance Regulators announced amendments relating to enhanced cost disclosure reporting requirements for investment funds and new...more

Bennett Jones LLP

Ontario Securities Commission Reverts to Pre-Covid Shorter Prospectus Review Periods

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The Ontario Securities Commission (OSC) has announced that it will return to its pre-December 7, 2021, service standard timelines and commitments for prospectus reviews effective January 9, 2023, given market changes and...more

Bennett Jones LLP

New Prospectus Exemption for Listed Issuers to Come Into Effect November 21, 2022

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The Canadian Securities Administrators (CSA) recently announced an amendment to National Instrument 45-106 Prospectus Exemptions (NI 45-106) that introduces a new prospectus exemption (the Listed Issuer Financing Exemption)...more

Blake, Cassels & Graydon LLP

Canadian Securities Administrators Propose Amendments to OTC Derivatives Trade Reporting Rules

The Canadian Securities Administrators (CSA) have published proposed amendments (Proposed Amendments) to the Provincial Trade Reporting Rules (defined below). The Proposed Amendments are meant to streamline Canada’s...more

Stikeman Elliott LLP

CSA Seek Comments on Enhanced OTC Derivatives Data Reporting Amendments

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Proposed amendments are intended to reduce regulatory burden by aligning over-the-counter (OTC) derivatives data reporting requirements with international standards developed by the Committee on Payments and Market...more

Bennett Jones LLP

CSA Seeks Comments on "Access Equals Delivery" Model for Prospectuses, Financial Statements and MD&A

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The Canadian Securities Administrators (CSA) have published for comment proposed amendments to implement an "access equals delivery" model (AED model) to generally permit electronic delivery of prospectuses, financial...more

Stikeman Elliott LLP

CSA Propose Modernization of Prospectus Filing for Investment Funds

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Proposed modernization of certain investment fund prospectus filing rules would extend lapse date to 24 months. CSA also considering introducing base shelf filing for all investment funds....more

Bennett Jones LLP

Canadian Securities Regulators Adopt Exemptions from Certain Base Shelf Prospectus Requirements

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On December 6, 2021, the Canadian Securities Administrators (CSA) announced temporary exemptions providing for the adoption of a "well-known seasoned issuer" (WKSI) program applicable to certain issuers filing base shelf...more

Blake, Cassels & Graydon LLP

Les ACVM proposent de réduire le fardeau réglementaire au moyen de réformes des obligations d'information continue

Dans le cadre de son initiative en cours sur la réduction du fardeau réglementaire (consultez notre Bulletin Blakes d’avril 2018 intitulé Les ACVM annoncent des projets afin de réduire le fardeau réglementaire des sociétés...more

Blake, Cassels & Graydon LLP

So Hard Done By? CSA Proposes to Reduce Burden with Continuous Disclosure Reforms

In furtherance of their ongoing burden reduction initiative (see our April 2018 Blakes Bulletin: CSA Announce Policy Projects to Reduce Regulatory Burden for Public Companies), the Canadian Securities Administrators (CSA)...more

Bennett Jones LLP

Amendments to NI 51-102 Continuous Disclosure Obligations Related to Business Acquisition Reports

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The Canadian Securities Administrators recently published amendments to National Instrument 51-102 Continuous Disclosure Requirements (NI 51-102) related to the Business Acquisition Report (BAR) requirements. The amendments...more

Blake, Cassels & Graydon LLP

Les ACVM rehaussent les critères et seuils relatifs au dépôt d’une déclaration d’acquisition d’entre

Le 20 août 2020, les Autorités canadiennes en valeurs mobilières (les « ACVM ») ont publié des modifications visant le Règlement 51-102 sur les obligations d’information continue (le « Règlement 51-102 ») et son instruction...more

Blake, Cassels & Graydon LLP

The BAR Will Be Raised: CSA Increases Business Acquisition Report Triggers and Thresholds

On August 20, 2020, the Canadian Securities Administrators (CSA) published amendments (Amendments) to National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102) and its companion policies related to the business...more

Bennett Jones LLP

CSA Announces Amendments to Rules Applicable to At-The-Market Distributions

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On June 4, 2020, the Canadian Securities Administrators (CSA) published amendments to National Instrument 44-102 – Shelf Distributions (NI 44-102) and Companion Policy 44-102CP Shelf Distributions. Proposed amendments were...more

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