In connection with the Canadian Securities Administrators’ (“CSA”) recent measures to support the competitiveness of Canada’s capital markets, the CSA have announced an increase to the amount of funds that may be raised under...more
Étant donné l’incertitude persistante qui règne sur les marchés et qui a entraîné un ralentissement des premiers appels publics à l’épargne (les « PAPE ») au Canada au cours du premier trimestre de 2025, les Autorités...more
In this Edition - The venture debt market continues to expand and play a prominent role in the Canadian venture capital market....more
The Bre-X mining scandal of the 1990s is one of history’s most infamous corporate fraud cases. Bre-X Minerals Ltd., a small Canadian company, falsely reported one of the largest gold deposits ever discovered in Indonesia,...more
The Canadian Securities Administrators (“CSA”) have released a few updates this summer regarding National Instrument 93-101 Derivatives: Business Conduct and its companion policy (collectively, the “Business Conduct Rule”)....more
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
As an update to our blog post dated April 19, 2022, on January 11, 2024, the Canadian Securities Administration (CSA) published amendments implementing an "Access Equals Delivery" model (AED Model) to generally permit...more
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
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
On August 31, 2023, the Canadian Securities Administrators ("CSA") announced the repeal of National Instrument 81-104 Alternative Mutual Funds (“NI 81-104”) in all jurisdictions except Québec....more
In Frayce v. BMO Investor Line Inc. et al, 2023 ONSC 16 [Frayce], the Ontario Superior of Justice refused to certify a class proceeding brought by aggrieved investors to address the controversial practice of "trailing...more
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
On October 12, 2022, Coinsquare Capital Markets Ltd. (CCML) was approved as a member of the Investment Industry Regulatory Organization of Canada (IIROC), the Canadian SRO for investment dealers. This is the first...more
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
The Canadian Securities Administrators (CSA) recently published reforms to enhance the client-registrant relationship (Client Focused Reforms). The Client Focused Reforms amend National Instrument 31-103 Registration...more