Effective August 13, 2013, the Canadian Securities Administrators (CSA) will adopt new rules on permissible pre-marketing and marketing activities in connection with the public offering of securities in Canada (the Rules). The introduction of the Rules follows a public consultation by the CSA and increases the range of pre-marketing and marketing activities that dealers may undertake in connection with public offerings.
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The Ontario Securities Commission recently released the results of a review of the forward-looking information disclosure of 60 reporting issuers. In its review, the OSC notes that forward-looking information (FLI) is a key area of interest for investors and should provide valuable insight about the issuer's business and how it intends to attain its corporate objectives and targets. This can be enhanced by incorporating key performance indicators into FLI, thereby providing ongoing disclosure of how the issuer is progressing towards such targets and objectives.
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Canadian institutions, collectively representing more than $44 Billion assets under management, released a joint statement in support of the Accord on Fire and Building Safety in Bangladesh and timely and effective action to ensure respect for the fundamental human rights of workers in the supply chains of the companies in which they invest, including health and safety, freedom of association and a living wage.
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Allowing Canadian investors to participate in a global rights offering is easier than you think. There are two relatively simple approaches.
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Proposals to study changing the price increments at which some U.S. stocks change hands may be getting closer to implementation.
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The U.S. Securities and Exchange Commission (SEC) has issued fresh guidance for issuers on the requirements for compliance with the SEC's new Conflict Minerals Rule and the SEC's Disclosure Rules - both of which provide for transparency and disclosure of payments by resource extraction issuers to the governments where they operate.
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NYSE Arca, a major U.S. market for exchange-traded products (ETPs), will launch an initiative this year to help issuers of some lightly-traded securities to boost their liquidity.
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McMillan LLP has today submitted a comment letter in response to the request for comment by the Canadian Securities Administrators (the 'CSA') with respect to proposed National Instrument 62-105 Security Holder Rights Plans, proposed Companion Policy 62-105CP Security Holder Rights Plans and proposed consequential amendments (collectively, the 'CSA Proposal'). The comment letter also responds to the consultation paper published concurrently by the Autorité des marchés financiers (the 'AMF') on an alternative approach to the CSA Proposal (the 'AMF Proposal').
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