Capital Markets Capital Markets

Investment limited partnerships: Federal Budget 2018

The government's budget announced plans to go forward with amendments to the Excise Tax Act (Canada) that are intended to levy GST/HST on management...

Québec Court of Appeal harmonizes Canadian law by prohibiting pre-leave discovery in securities class actions

A Québec Court of Appeal decision in Amaya inc. c. Derome harmonizes the law across Canadian provinces with regard to the prohibition against...

Securities regulators referee the Aurora hostile bid for CanniMed

On December 22, 2017, the Ontario Securities Commission (the OSC) and the FCAAS made an order cease trading the shareholder rights plan adopted by...

Livent decision and the scope of auditor liability

In a significant decision on December 20, 2017, the Supreme Court of Canada provided important guidance on the scope of responsibility of auditors in...

U.S. capital markets developments in 2017: Small changes can make a big difference

Most of the developments coming from the U.S. Securities and Exchange Commission (the SEC) in 2017 that are of particular interest to Canadians are...

Developments in white-collar & capital markets regulatory enforcement

Regulators continue to try to “move the needle” in their pursuit of insider trading and other white-collar misconduct.

Shifting sands of the law of privilege

In the past year, the Supreme Court of Canada reaffirmed the sanctity of solicitor-client and litigation privilege, setting a high standard for...

New lists for monthly AML reporting

Dealers and advisers that are registered or operate under exemptions from registration under Canadian securities laws must consult two new lists of...

The OSC’s prospectus filing deadlines – explained

The OSC has recently reminded issuers of its filing deadlines for prospectuses and the procedures for requesting a prospectus receipt on the day of...

OSC Staff’s latest views have implications for capital markets transactions – Highlights from the 2016-2017 Annual Report of the Corporate Finance Branch

The Corporate Finance Branch of the Ontario Securities Commission released its latest Annual Report on September 21, 2017. We highlight 6 areas of...