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Canada Canadian Securities Administration Regulatory Requirements

Blake, Cassels & Graydon LLP

Les ACVM proposent de moderniser et de simplifier les normes d’information dans le secteur minier canadien

Introduction Le 12 juin 2025, les Autorités canadiennes en valeurs mobilières (les « ACVM ») ont annoncé un projet de modification détaillé (le « projet de modification ») visant à moderniser et à simplifier le régime...more

Bennett Jones LLP

TSX Venture Exchange Updates Escrow Policy for New Listings

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The TSX Venture Exchange (TSXV) has announced updates to its policy on escrow and resale restrictions. The immediately effective updates amended and renamed Policy 5.4 – Capital Structure, Escrow and Resale Restrictions (New...more

Stikeman Elliott LLP

Streamlining NI 43-101: CSA Propose to Modernize and Overhaul Canada’s Mining Disclosure Regime

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The Canadian Securities Administrators (“CSA”) have published for comment proposed amendments to National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), Form 43-101F1 Technical Report (“Form...more

Mintz

Canada Pauses Mandatory Climate Disclosure Rules

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Recently, the Canadian Securities Administrators (the umbrella organization of Canada's provincial securities regulators) announced that it would pause the development of certain sustainability reporting initiatives,...more

Blake, Cassels & Graydon LLP

Les ACVM suspendent leurs initiatives sur l’information liée au changement climatique et à la diversité

Le 23 avril 2025, les Autorités canadiennes en valeurs mobilières (les « ACVM ») ont annoncé qu’elles suspendaient les travaux qu’elles avaient entrepris pour élaborer ou renforcer certains règlements sur la communication de...more

Bennett Jones LLP

CSA Announces Pause on Climate-Related and Diversity-Related Disclosure Projects in Response to Global Market Uncertainty

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The Canadian Securities Administrators (CSA) has announced a pause to its work on developing new mandatory climate-related disclosures and amending diversity-related disclosure requirements, in light of recent significant...more

Davies Ward Phillips & Vineberg LLP

Disclosure Interrupted: CSA Pauses Climate and Diversity Disclosure Rules

The Canadian Securities Administrators (CSA) is pausing its work on climate-related and diversity-related disclosure rules in order “to support Canadian markets and issuers as they adapt to the recent developments in the U.S....more

Stikeman Elliott LLP

CSA Announce Measures to Support Canadian Markets and Issuers

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The Canadian Securities Administrators (“CSA”) recently announced measures to support the competitiveness of Canadian capital markets in response to the current uncertainty in global markets. The measures are being...more

Bennett Jones LLP

Canadian Securities Regulators Take Further Incremental Steps to Promote Access to Capital Markets

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Against the current backdrop of global market uncertainty, on April 17, 2025, the Canadian Securities Administrators (CSA) announced new incremental measures aimed at reducing regulatory burden for reporting issuers,...more

Stikeman Elliott LLP

CIRO Publishes Phase 5 of its Rule Consolidation Project

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The Canadian Investment Regulatory Organization (“CIRO”) has published for comment Phase 5 of its rule consolidation project (the “Rule Consolidation Project”). Phase 5 involves rules relating to outsourcing and service...more

Blake, Cassels & Graydon LLP

Canadian Mergers and Acquisitions: Public M&A FAQs

Our FAQs brochure answers common questions about the regulation of public M&A in Canada. This comprehensive resource addresses key topics and essential insights to help navigate the complex landscape of public M&A deals in...more

Davies Ward Phillips & Vineberg LLP

Governance Insights: 10 Legal Updates GCs, Boards and Investors Need to Know

The latest edition of Davies’ Governance Insights is now available. In this issue, we review 10 developments that general counsel and directors of Canadian public companies, and their investors, should know for 2025 and...more

Bennett Jones LLP

CSA Seeks Comments on Proposed Access Model: Modernized Approach for Delivery of Continuous Disclosure

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As an update to our previous blog posts, Greater Flexibility for Reporting Issuers: Access Equals Delivery and CSA Seeks Comments on “Access Equals Delivery” Model for Prospectuses, Financial Statements and MD&A, the Canadian...more

Stikeman Elliott LLP

OBSI Joint Regulators Committee Releases 2023 Annual Report

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The Canadian Securities Administrators (“CSA”) and the Canadian Investment Regulatory Organization (“CIRO”) recently published the Annual Report (“Report”) of the Joint Regulators Committee (“JRC”) of the Ombudsman for...more

Stikeman Elliott LLP

AMF Highlights Key Initiatives in its 2024-2025 Annual Statement of Priorities

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The Autorité des marchés financiers (“AMF”) recently published its 2024-2025 Annual Statement of Priorities, which outlines key initiatives that the Québec securities regulatory authority intends to pursue for the period from...more

Stikeman Elliott LLP

CSA Update Guidance on Virtual Shareholder Meetings

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The Canadian Securities Administrators (“CSA”) provided initial guidance on virtual shareholder meetings in February 2022 to: (i) assist reporting issuers in fulfilling their obligations under securities legislation; and (ii)...more

Stikeman Elliott LLP

CSA Propose Binding Dispute Resolution Framework for Retail Client Complaints

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The Canadian Securities Administrators (“CSA”) have proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (“NI 31-103”) and changes to its companion policy...more

Stikeman Elliott LLP

The Virtual Currency Regulation Review - September 2023

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I INTRODUCTION TO THE LEGAL AND REGULATORY FRAMEWORK - Canada currently has no comprehensive framework governing the regulation of digital assets. Securities and derivatives regulation has emerged as the main regulatory...more

Stikeman Elliott LLP

CSA Defer Launch of SEDAR+: New Target is July 25, 2023

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On June 1, 2023, the Canadian Securities Administrators (CSA) announced a delay in the launch date for the “System for Electronic Data Analysis and Retrieval +” (SEDAR+). Originally scheduled for June 13, 2023, the SEDAR+...more

Stikeman Elliott LLP

CSA Announce Exemptions From Certain Filing Requirements During Transition to SEDAR+

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On May 11, 2023, the Canadian Securities Administrators (CSA) announced exemptions from certain filing requirements in connection with the launch of the “System for Electronic Data Analysis and Retrieval +” (SEDAR+). CSA...more

Stikeman Elliott LLP

CSA Publish Derivatives Data Reporting Transition Guidance

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Amendments to swap data reporting rules are expected to be implemented by the Commodity Futures Trading Commission (CFTC) in December 2022. The Canadian Securities Administrators (CSA) have issued guidance to market...more

Stikeman Elliott LLP

The Virtual Currency Regulation Review - November 2022

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I - INTRODUCTION TO THE LEGAL AND REGULATORY FRAMEWORK - Canada currently has no comprehensive framework governing the regulation of digital assets. Securities regulation has emerged as the main regulatory instrument in...more

Stikeman Elliott LLP

Attention Mining Industry - Now is your Chance to Help Shape Canadian Mineral Project Disclosure Requirements and Modernize NI...

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Mineral project disclosure requirements are being reviewed by the Canadian Securities Administrators (CSA) with an eye to providing investors with more relevant disclosure, and to continue to foster fair and efficient capital...more

Stikeman Elliott LLP

Burden Reduction for Registrants Effective June 2022: Outside Activities Clarified and Registration Requirements Simplified

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Final amendments to National Instrument 33-109 Registration Information (NI 33-109) and related instruments (the Final Amendments) clarify outside activity reporting requirements, among other things. The Ontario Securities...more

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CSA Provide Disclosure Guidance to Investment Funds Engaged in ESG Investing

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On January 19, 2022, the Canadian Securities Administrators (CSA) published CSA Staff Notice 81-334 (the “Staff Notice”) to provide guidance to investment funds (funds) relating to environmental, social and governance (ESG)...more

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