Tag archives: Canadian Securities Administrators

New guidance on material climate change disclosure for reporting issuers

By nrfdigitalteam on October 8, 2019 Posted in Corporate finance

On August 1, 2019, the Canadian Securities Administrators (CSA) released CSA Staff Notice 51-358 in efforts to clarify the scope of disclosure for reporting issuers, specifically for smaller issuers. Securities law in Canada requires reporting issuers to disclose material risks affecting their business and, where applicable, the financial impacts of such risks. While this notice … Continue reading

Regulators comment on securities law implications for offerings of tokens

By Matthew Lau (Toronto) on June 19, 2018 Posted in Corporate finance, Technology and innovation

On June 11, 2018, the Canadian Securities Administrators (“CSA”) published Staff Notice 46-308 Securities Law Implications for Offerings of Tokens (“Notice”). The Notice follows from the CSA’s previous guidance in Staff Notice 46-307 Cryptocurrency Offerings, where the CSA explained that many cryptocurrency offerings involve the distribution of securities and are therefore subject to securities laws … Continue reading

Canadian Securities Administrators are seeking comments on soliciting dealer arrangements

By Trevor Zeyl (Toronto) on April 19, 2018 Posted in Antitrust, competition and regulatory, Governance and directors' liability, M&A

The Canadian Securities Administrators (the “CSA”) have issued CSA Staff Notice 61-303 and Request for Comment – Soliciting Dealer Arrangements (the “Notice”) on the use of soliciting dealer arrangements. “Soliciting dealer arrangements” generally refer to agreements entered into between issuers and investment dealers under which the issuer agrees to pay to the dealers a fee … Continue reading

Maximizing shareholder value through process: Canada’s new take-over bid rules

By Troy Ungerman (Toronto) on March 9, 2016 Posted in Corporate finance

On February 25, 2016, the Canadian Securities Administrators (CSA), which is the association of provincial and territorial securities regulators, published its final amendments to the take-over bid system, which harmonize the rules across all jurisdictions in Canada. The changes, as reflected in National Instrument 62-104 Take-Over Bids and Issuer Bids and National Policy 62-203 Take-Over … Continue reading