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.
‘Testing the waters’ before a public offering of securities: Navigating the rules, without getting all wet
Traditionally, securities laws in the United States and Canada have made it difficult for a company to test the waters before a public offering. However, since 2012, traditional rules have been changing and the ability to test the waters before an IPO is now part of the legal landscape in both the U.S. and Canada — although the rules that apply work differently in the two countries. We discuss the current legal framework — including some proposed new rules — for testing the water in both Canada and the U.S.
What you need to know about testing the waters
Update on the implementation of the Multilateral Instrument in Canada
Canada signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting ― also known as the Multilateral Instrument or MLI ― in June 2017, and subsequently commenced its domestic process to ratify the MLI in June 2018 by tabling Bill C-82, An Act to implement a multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting in the House of Commons. Bill C-82 is currently in its third reading in the House of Commons. We explain the current status and timeline of MLI implementation in Canada, and what this means for Canada’s tax treaties.
Learn more about MLI developments in Canada
European Court of Justice confirms CETA compatible with EU law
In an opinion released on April 30, 2019, the European Court of Justice (the ECJ) confirmed that the investor-state dispute resolution mechanism set up by the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) is compatible with EU primary law. In this international trade brief, we explain the implications of this development for deepening Canada-EU trade relations and how CETA’s provisional implementation since September 2017 has already resulted in increased bilateral trade.
Understand the implications of CETA for Canada’s EU trade ties
Canadian International Trade Tribunal releases its report in the steel safeguard inquiry
On April 3, 2019, the Canadian International Trade Tribunal (the Tribunal) released its report in the Safeguard Inquiry into the Importation of Certain Steel Goods (the Inquiry), which found that the imposition of safeguards on energy tubular goods, along with four other steel products examined, was not justified under Canadian law and applicable international trade law principles. This development could have a significant impact on the Canadian steel and upstream industries, including the oil and gas sector.
Read more about the implications