On November 16, 2023, the CSA and CIRO published CSA/CIRO Staff Notice 23-332 Summary of Comments and Responses to CSA/IIROC Staff Notice 23-329.
On December 21, 2021, a panel of the Alberta Securities Commission issued its written decision providing its reasons for the oral ruling it made on July 12, 2021 regarding applications brought by Bison Acquisition Corp. and Brookfield Infrastructure Corporation Exchange Limited Partnership, as well as Inter Pipeline Ltd. and Pembina Pipeline Corporation.
Stakeholders are demanding good corporate governance, which includes effective succession planning where a range of skills, experience, and backgrounds are highly valued and reflected. In collaboration with WATSON, a national multidisciplinary governance firm, join us in the morning on Wednesday, April 19, to discuss strategies and action plans that drive robust succession planning and strong corporate governance.
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Wednesday, April 19, 2023
On December 8, 2022, the Canadian Securities Administrators (the “CSA”) and the Investment Industry Regulatory Organization of Canada (“IIROC”) jointly published Staff Notice 23-329: Short Selling in Canada (the “Short Selling Notice”), which reviews the current regulatory requirements and initiatives with respect to short selling and seeks public feedback on areas for regulatory consideration.
Paul Davis, Partner in our Capital Markets & Securities and Mergers & Acquisitions groups and Chair of the Board of Partners, speaks with his brother Rob Davis, Chair of the Board of Directors and Tax Partner of KPMG Canada, on his career journey and the path to improving representation in Canada’s boardrooms.
The Ontario Superior Court ordered First Capital to hold a special meeting of unitholders more than two months earlier than originally scheduled.
Join us for a series of engaging discussions on shareholder activism in Canada. Industry experts will share valuable insights into regulatory and market issues, concerns and trends.
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Tuesday, February 28, 2023
Join us on Thursday, March 2nd for a series of engaging discussions with industry experts who will share valuable insights into regulatory and market issues, concerns and trends.
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Thursday, March 2, 2023
The CSA and IIROC jointly published Staff Notice 23-329 which reviews the current regulatory requirements and initiatives with respect to short selling.
The Canadian Securities Administrators announced the introduction of a prospectus exemption which will be available to reporting issuers as of November 21, 2022.
IIROC guidance regarding short selling in Canada (IIROC Notice 22-0130).
An Alberta decision has held that the use of swaps in a hostile take-over bid can be abusive, and added guidance on shareholder rights plans and break fees.
The authors discuss the Ontario Superior Court of Justice's decision in Cineplex v. Cineworld, a "busted deal" case about interim operating covenants.
High-level overview and commentary on the recommendations set out in Section 2.4 of the Capital Markets Modernization Final Report
This discussion will highlight key priorities of the OSC, including an update on burden reduction work underway. Remarks will also focus on the OSC’s response to COVID19 and provide a regulatory roadmap for navigating contested transactions.
The aftermath of the COVID-19 pandemic will provide unprecedented opportunities for shareholder activism and companies will need to prepare for coming campaigns.
Ontario Securities Commission provides new guidance regarding the role and responsibilities of a special committee in a conflicted going private transaction.
This bulletin summarizes our concerns and conclusions with respect to the Canadian short selling regulatory regime.
As a finding of "joint actor" or "acting jointly or in concert" can result in significant obligations, we have published a paper that seeks to provide clarity
The OSC and the FCAAS released their reasons for the orders granted concerning the hostile take-over bid by Aurora Cannabis Inc. for CanniMed Therapeutics Inc.
Today marks the first anniversary of the start of what was likely the most acrimonious proxy fight in Canada in 2017.
Canadian M&A Activity Continues to Grow as Securities Regulators Remain Focused on Protecting Minority Shareholders
Ontario Divisional Court Decision Confirms Shareholders' Right to Requisition a Meeting
Government of Canada Provides Valuable Guidance on National Security Review of Foreign Investment in Canada
Hecla Decision—The British Columbia Securities Commission Continues to Narrow the Use of the Public Interest Power
Court of Appeal Overturns Approval of US$2.3 Billion Merger Between InterOil and ExxonMobil
For organizations considering, preparing for, or undergoing a major transaction – be it an IPO, sale or a milestone event – building a strategy to stay ahead can be a challenge.
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May 31, 2016 - 7:30 AM to 9:15 AM
This webinar will help you bulletproof your board of directors and senior officers.
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May 11, 2016 - 12:00 PM to 1:30 PM
Early Warning Enhancements
For The Times They Are A-Changin: Canadian Regulators Adopt Fundamental Changes to the Take-over Bid Regime
It is Time to Rethink the Use of Fiduciary Out Termination Provisions and the Restriction on Changes in Board Recommendation in Canadian Merger Agreements1
SPACs, The "New" Private Equity Vehicle in Canada – An Asset Class of $800M and Growing
British Columbia Securities Commission Seeks to Limit Exercise of Public Interest Power in the Enforcement Context
The ability of the State or any agency thereof to mete out sanctions in circumstances where there has not been a contravention of a clearly delineated statutory provision has generally been the purview of dictators or absolute monarchs.
Augusta decision—the British Columbia Securities Commission holds that the Right of a Shareholder to Tender to a Bid Remains Paramount
Advance Notice By-Laws, Part II – the Mundoro Capital Decision
Defensive Tactics – Public Interest Powers of Securities Regulatory Authorities Continue to Evolve – the Fibrek Decision
Advance Notice By-Laws – a Tool to Prevent a Stealth Proxy Contest or Ambush
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