IR Leader
June 03, 2014

Top Stories

Activist Investing

An annual review of trends in shareholder activism.

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OSFI Updates Guidance on Regulatory Compliance Management

More than 10 years have passed since the Office of the Superintendent of Financial Institutions Canada (OSFI) first issued Guideline E-13 entitled "Legislative Compliance Management" (the 'LCM guideline'). After implementing its revised and updated corporate governance guideline in 2013, OSFI has now turned its attention to the LCM guideline. In April 2014 OSFI published a draft revised Guideline E-13 entitled "Regulatory Compliance Management" (the 'RCM guideline'). The purpose of the update is to align OSFI's guidance on regulatory compliance management better with the revised corporate governance guideline, as well as with OSFI's supervisory framework and assessment criteria.

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Canadian Public Mergers and Acquisitions: 2014 Trends and FAQs

Canadian M&A activity was moderate in 2013. The weakened natural resources sector, which had helped Canada outperform other economies through the recession, contributed to an overall drop in M&A levels as the total number and aggregate value of Canadian deals, and Canada's share of global M&A, decreased. However, powered by a strong domestic economy, Canadian companies' outbound M&A strengthened relative to inbound acquisitions and the U.S. was again by far the most popular target country. Against that backdrop, we answer some frequently asked questions on Canadian M&A and discuss the trends that Blakes sees unfolding in 2014.

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A Quebec Tipping Case Serves to Caution Insiders

On April 7, 2014, the Bureau de décision et de révision (BDR) ruled on an application by the Autorité des marchés financiers (AMF) seeking an administrative penalty against a director of a reporting issuer for having allegedly contravened tipping restrictions under the Securities Act (Quebec).

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How to Talk to Activist Investors

Activist investors are turning up the heat at public companies. It's up to CFOs to stay cool - and communicative.

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CSA Revive Proposals for Venture Issuer Disclosure

The Canadian Securities Administrators yesterday published proposed amendments to disclosure rules intended to tailor and streamline the disclosure required of venture issuers. According to the CSA, the proposed amendments are designed to focus venture issuers' disclosure on information that reflects the expectations of venture issuer investors, while eliminating disclosure of less value.

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Dark Pools Opening Up Amid Increased Scrutiny

Dark pools, the private trading venues that together host more U.S. equity volume than the New York Stock Exchange, are opening up.

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Continuing Competitive Weakness in U.S. Capital Markets

U.S. capital market competitiveness showed even greater signs of weakness in the first quarter of 2014, when measures of aversion to U.S. public equity markets remained at levels not seen since the 2007-2008 financial crisis.

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CFA Society - So Who Needs A Prospectus Anyway?

Prospectus exemptions and proposed changes - opportunities for CFA Charterholders

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