Securities Practice Notes

Real time quotes at the stock exchange

Fall 2012

Displaying 1-10 of 10

Mutual Funds Point of Sale Stage 2: An Opportunity to Revisit NP 11-201 Electronic Delivery of Documents

Introduction When the Canadian Securities Administrators (“CSA”) released a re-written National Policy 11-201 Electronic Delivery of Documents (“NP 11-201”) in November 2011, the potential impact of the amendments may have slipped by, relatively unnoticed by dealers. The impending implementation of...

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No-Contest Settlements: An Effective Tool to Help Enforce Ontario Securities Law?

Emily Cole

An earlier version of this article was included in the program materials for The Twelve-Minute Civil Litigator 2012 on September 20, 2012 and has been reprinted with permission from The Law Society of Upper Canada. Introduction The question of whether...

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Getting Out the Vote: Potential Regulation of Proxy Advisory Firms

Blair C. Lowther

In recent years, the role of proxy advisory firms in the Canadian capital markets has noticeably increased. Institutional investors, issuers and proxy advisory firms will be interested in the consultation paper of the Canadian Securities Administrators (CSA) published for comment...

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Secret Proxy Fights: Is Your Board About to be Replaced Without Your Knowledge? Advance Notice By-laws May Save the Day

Jay M. Hoffman

Despite the effort that Canadian companies make to properly identify, vet, and educate director nominees, for most of these companies, unknown, unproven and, at times, undesirable director candidates can be nominated directly from the floor of shareholder meetings – with...

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Proportional Regulation: An Update on Proposed National Instrument 51-103 Ongoing Governance and Disclosure Requirements for Venture Issuers

Blair C. Lowther

On July 29, 2011, the Canadian Securities Administrators (CSA) published for comment significant changes to the regulatory regime for venture issuers (see our article in the Summer 2011 edition). After reviewing comments received, on September 13, 2012, the CSA published...

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Canada Rejects Petronas-Progress Deal: What is a “Net Benefit” to Canada?

Eric Dufour

Another high profile decision by the Federal Industry Minister has raised important questions on what criteria Industry Canada will use to evaluate foreign take-overs. On October 19, 2012, Industry Minister Christian Paradis advised Malaysian state-owned oil company PETRONAS that it...

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No More Slate: Changes to the TSX Company Manual on Directors’ Elections

General Toronto Stock Exchange issuers should be aware that, beginning December 31, 2012, TSX-listed companies may be required to make changes to their policies for electing directors and making public disclosure of election results. The TSX has determined that Canadian...

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CSA Consultation Paper Exploring Statutory Best Interest Duty for Advisors and Dealers

On October 25, 2012, the Canadian Securities Administrators (CSA) published for comment CSA Consultation Paper 33-403, The Standard of Conduct for Advisers and Dealers: Exploring the Appropriateness of Introducing a Statutory Best Interest Duty When Advice is Provided to Retail...

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Empty Voting – Waiting for a Regulatory Response

Jay M. Hoffman

Empty Voting in the Spotlight Hedge funds, activist investors, issuers and corporate governance advisors will be paying close attention to the practice of “empty voting” after the decision of the British Columbia Court of Appeal (the “BCCA”) regarding the proxy...

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Introducing Point of Sale Stage 2 for Mutual Funds: The Impact on Dealers Selling Mutual Funds

Introduction A careful reading of the pronouncements of the Canadian Securities Administrators (“CSA”) discloses that in all likelihood, Stage 2 of the point of sale (“POS”) initiative will become reality during 2013. POS is, broadly speaking, an investor-focused project intended...

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Displaying 1-10 of 10