Capital Markets Capital Markets

Regulation by enforcement: who pays the price?

Who should bear the costs of Ontario Securities Commission enforcement proceedings is emerging as an important issue.

Private equity M&A: strong appetite for exchangeable share structures

Exchangeable share structures are expected to become increasingly popular in the coming years.

The rise of retail: accessing private markets

Private asset investing is expected to evolve and grow in the coming years.

Navigating control transactions: clarifying acceptable conduct boundaries

We review recent Canadian securities regulatory authority decisions that impact control transactions.

Two years of CIRO: enforcement, harmonization and what’s next

The Canadian Investment Regulatory Organization’s core priorities will be enforcement and regulatory harmonization.

Will new powers lead to more effective capital markets regulatory enforcement?

With broader investigative and enforcement powers, securities regulators levied increased sanctions in 2024.

Will access finally equal delivery? Progress in access model for certain Canadian continuous disclosure documents

An alternative model for the delivery of certain continuous disclosure documents by non-investment fund reporting issuers is back on the table.

Water cannot be turned into wine: Cormark and the legality of triangular hedging transactions

The Ontario Capital Markets Tribunal has provided important guidance on hedging transactions in connection with private placements.

CSA disclosure review highlights AI-washing and greenwashing among other continuous disclosure concerns

Areas that require disclosure improvements by Canadian reporting issuers include promotional claims about artificial intelligence and sustainability.

Canadian Securities Administrators’ 2023–2024 annual Year in Review

The annual report highlights efforts undertaken in response to emerging issues and changing conditions in the country’s capital markets.