Category: Capital Markets

Page: 18 of 20Page 18 de 20<<<...10...1617181920

Recent Amendments to TSX Company Manual

October 27, 2014

  The Toronto Stock Exchange (TSX) has adopted – and the Ontario Securities Commission has approved – public interest rule amendments to the TSX Company Manual (Manual), which (i) provide an expanded exemption to security holder approval requirements for certain security-based compensation arrangements adopted in the context of an acquisition and (ii) broaden the scope of transactions that may be…

New Cooperative Capital Markets Regulator: How It Works (And Some Unresolved Issues)

October 23, 2014

  On September 8, 2014, the Canadian government and the British Columbia, Ontario, Saskatchewan and New Brunswick governments entered into a memorandum of agreement (Agreement) formalizing the terms and conditions of the cooperative capital markets regulatory system (Cooperative System). For more information on this please see our September 2014 Blakes Bulletin: Cooperative Capital Markets Regulatory System Agreement and Draft Legislation…

Just in Time for 2015 Proxy Season: Disclosure Requirements for Gender Diversity, Director Tenure

October 21, 2014

  On October 15, 2014, the securities regulatory authorities of Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Quebec and Saskatchewan (participating jurisdictions) finalized amendments to National Instrument 58-101 Disclosure of Corporate Governance Practices and Form 58-101F1 Corporate Governance Disclosure, requiring disclosure relating to gender diversity on boards and in senior management and director tenure.  …

Cooperative Capital Markets Regulatory System Agreement and Draft Legislation Released

September 17, 2014

  On September 8, 2014, the Canadian government and the British Columbia, Ontario, Saskatchewan and New Brunswick governments entered into a memorandum of agreement (Agreement) formalizing the terms and conditions of the cooperative capital markets regulatory system (Cooperative System). Consultation drafts of the uniform provincial capital markets legislation (Provincial Capital Markets Act (PCMA)) and complementary federal legislation (Capital Markets Stability…

Prospectus Offerings: 5 Questions Issuers Need to Consider

September 9, 2014

  Canadian public companies raising capital should consider the following five questions prior to launching a prospectus offering of securities.   1)  WHAT SECURITIES TO OFFER? Whether companies offer shares, debt, hybrid, committed or contingent, convertible or non-convertible securities, a company’s capital needs will be paramount in determining what type of security to issue, while the decision will also be…

Selected International Measures from August 2014 Legislative Proposals

September 8, 2014

On August 29, 2014, the Minister of Finance released for consultation draft legislative proposals (August 29 Proposals) to amend the Income Tax Act (Canada) (Act) which would implement certain measures from the 2014 federal budget as well as certain other measures. The government has invited comments by September 28, 2014. It is expected that the government will then introduce these…

OSC Adopts Restrained Interpretation of ‘Public Interest’ Jurisdiction in Baffinland Case

September 4, 2014

On August 26, 2014, a panel of the Ontario Securities Commission released its decision in a high-profile enforcement proceeding brought by OSC Staff against Jowdat Waheed and Bruce Walter. Staff had made a series of allegations against Waheed and Walter, including allegations of insider trading and conduct contrary to the “public interest,” arising out of a hostile take-over bid the…

Supreme Court of Canada to Hear Securities Class Action Limitation Period Cases

August 8, 2014

The Supreme Court of Canada has granted leave to appeal in three securities class action cases in which the defendants seek to enforce the three-year limitation period for commencing statutory secondary market securities class action claims in Ontario. All three appeals are from a February 2014 decision in which the Court of Appeal for Ontario overturned its own earlier decision…

Is CEO Pay Ratio Disclosure Coming to Canada?

July 23, 2014

INTRODUCTION Last year, the U.S. Securities and Exchange Commission (SEC) approved a proposal that would require U.S. public companies to disclose the ratio of CEO annual compensation to median employee annual compensation. Similarly, the European Commission is proposing the adoption of rules requiring certain publicly traded companies to report CEO pay ratios.   Proposals to use and disclose vertical benchmarking…

Page: 18 of 20Page 18 de 20<<<...10...1617181920