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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
