The Cross-Border Quarterly Report is a snapshot of transactional activity across the Canada-U.S. border. The purpose of this report is to provide a quick download of market trends, actionable insights for decision-makers and to keep our readers ahead of the curve on where the cross-border market is heading.
What Canadians should know about U.S. tax reform
Now that U.S. tax reform has been enacted into law, we are at the beginning of a major reset in how U.S.-Canadian cross-border tax planning will be done. We provide a summary of the changes included in the final legislation, known as the Tax Cuts & Jobs Act, and the potential impact on Canadian businesses.
Key takeaways for Canadians
Recent developments in U.S. leveraged finance
The fourth quarter of 2017 gave rise to several developments of interest to the U.S. leveraged lending community. This article discusses the impact of the discontinuation of LIBOR after 2021, limiting the deductibility of interest on debt, and the temporary procedural invalidation of the U.S. Leveraged Lending Guidance.
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CSA, TSX release guidance on marijuana-related activities in the U.S. for securities issuers
The Canadian Securities Administrators (the CSA) released a staff notice outlining the CSA’s specific disclosure expectations for issuers that have, or are in the process of developing, marijuana-related activities in the U.S. Separately, the Toronto Stock Exchange (TSX) provided guidance stating that it will launch a review of listed companies engaged in the marijuana business, whether directly or indirectly, in the U.S. This Update outlines the new disclosure expectations of the CSA and TSX.
What are the implications?
U.S. capital markets developments
Canadian issuers registered with the Securities and Exchange Commission (SEC) who report their financial statements in International Financial Reporting Standards (IFRS) will certainly feel the pinch of at least one procedural change starting with their next annual report filing with the SEC. We provide a review of the 2017 developments coming from the SEC that are of particular interest to Canadians.
What Canadians need to know