<p>In its April 2013 decision in <em>Re Stan</em>, the Alberta Securities Commission provides issuers with a practical approach to the assessment of both a “material fact” and general disclosure to the public:</p> <p>&nbsp;</p> <ul> <li> <div style="text-align: left;padding-left: 30px"><strong>Contextual Analysis.</strong> Materiality assessments are fact specific and heavily dependent on context.</div> </li> <li> <div style="padding-left: 30px"><strong>No

<p>While much of the developed world struggles with debt and chronically low growth, Canada,</p> <p>one of the best-performing members of the G-7, remains on firmer footing. However, this<br />country still has to cope with slower growth, cutbacks and aging infrastructure. As this paper<br />argues, reconciling these facts will take creative, non-partisan problem-solving, and it is

<p>On January 28, 2013 the Ontario Securities Commission (OSC) extended the period for comment on OSC Staff Consultation Paper 45-710<em> Considerations for New Capital Raising Prospectus Exemptions.</em> The paper describes four concept ideas for possible new prospectus exemptions in Ontario.</p> <p>&nbsp;</p> <p>The extension was based on feedback the OSC received by from several stakeholders that

<p>Securityholder meetings held on or after March 1, 2013 will be eligible for “notice-and-access” rules allowing reporting issuers to post proxy-related materials, annual financial statements and management’s discussion and analysis to a website rather than requiring them to mail this information to securityholders.  As the AGM season approaches, issuers should consider whether they can use

<p>Securityholder meetings to be held on or after March 1, 2013 will be eligible for notice-and-access pursuant to amendments the Canadian Securities Administrators (CSA) recently adopted.<br />  </p> <p>On November 29, 2012, the CSA announced it had adopted amendments to National Instrument 54-101 – Communication with Beneficial Owners of Securities of a Reporting Issuer, National Instrument

<p>On January 14, 2013, the Ontario Superior Court, Judge Frank Marrocco ruled that Nortel’s top three financial executives — Frank Dunn, Douglas Beatty and Michael Gollogly — are not guilty of fraud affecting public markets because Crown prosecutors failed to prove the trio “misrepresented” the telecom giants financials a decade ago to trigger bonuses.</p> <p>&nbsp;</p>

<p>TMX Group Inc., owner of the Toronto Stock Exchange, is assessing the “adequacy” of listing requirements to determine whether they address risks associated with companies whose operations are primarily in foreign jurisdictions excluding the United States, Canada, Western Europe, Australia and New Zealand.</p> <p>&nbsp;</p> <p>In a consultation paper released Monday, the exchange owner said it

<p><strong>Introduction and Purpose</strong></p> <p>&nbsp;</p> <p>Staff of the Canadian Securities Administrators (CSA Staff or we) are publishing this Staff Notice (the Notice) to highlight recent and upcoming changes to the Cease Trade Order Database (CTO Database). It provides guidance to CTO Database users and, in particular, to members of the investment industry in Canada. Click <a

<p>Multilateral Instrument 51-105, <em>Issuers Quoted in the U.S. Over-the-Counter Markets</em> will come into effect on July 31, 2012. Once effective, issuers whose securities trade in over-the-counter markets in the United States may become subject to enhanced disclosure requirements and resale restrictions under Canadian securities laws.</p> <p>&nbsp;</p> <p>With the effective date of the Instrument approaching, issuers

On December 22, 2011, a unanimous Supreme Court of Canada concluded that the proposed Canadian Securities Act (the “Act”), viewed in its entirety, is not constitutionally valid as presently drafted. Click here to read McInnes Cooper’s December 22, 2011 Legal Alert, “Supreme Court of Canada Finds Proposed Canadian Securities Act Unconstitutional”. &nbsp; &nbsp; On May

On May 26, 2010, the Canadian federal government released the proposed Canadian Securities Act (the Act) which would, among other things, create a national securities regulator in place of the existing provincial and territorial securities regulatory regimes. Today, that legislation was found to be unconstitutional by the Supreme Court of Canada. &nbsp; First, decisions by

The Community Economic Development Investment Fund (“CEDIF”) is a unique vehicle for promoting local economic development in Nova Scotia. &nbsp; A CEDIF is a pool of money raised through the sale of securities to persons within a defined Nova Scotia community – be it geographic, cultural, or otherwise – to operate or invest in local

In 2009 Canadian securities regulators changed the rules relating to securities “registration” – these rules determine who is required to be registered under the securities laws to “trade” in securities. These changes became fully effective in the fall of 2010. Prior to the rule changes, the registration requirement was based on the type of transaction

On June 5, 2011, Nova Scotia and New Brunswick announced they will fund a new, privately operated, regional venture capital fund designed specifically to support emerging companies throughout Atlantic Canada. &nbsp; For high potential companies that do not yet have the cash flow to secure financing from traditional lenders, a venture capital fund is critical

Accounting firms that provide mergers and acquisitions advisory services and corporate finance services should be aware of the implications of recent developments in Canadian securities laws – changes to registration rules that became fully effective in the fall of 2010. &nbsp; In 2009, Canadian securities regulators introduced changes to the rules relating to securities “registration”.

<p>On January 14, 2013, the Ontario Superior Court, Judge Frank Marrocco ruled that Nortel’s top three financial executives — Frank Dunn, Douglas Beatty and Michael Gollogly — are not guilty of fraud affecting public markets because Crown prosecutors failed to prove the trio “misrepresented” the telecom giants financials a decade ago to trigger bonuses.</p> <p>&nbsp;</p>

<p>TSX Venture Exchange (“TSXV” or the “Exchange”) is mindful of the current market environment faced by many of its listed issuers and the effect that this is having on both their ability to complete financings and, correspondingly, their ability to maintain and preserve their existing operations, activities and assets.</p> <p>&nbsp;</p> <p>In order to facilitate the