In an outcome that has surprised many, Britain has voted to leave the EU. This will lead to a two-year period of negotiating the terms of exit with the EU and its member states.
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Today the Canadian Securities Administrators (CSA) published CSA Staff Notice 21-318 Information Processor for Corporate Debt Securities (CSA Staff Notice 21-318), which advises that the Investment Industry Regulatory Organization of Canada (IIROC) will act as an information processor for corporate debt securities, effective July 4, 2016.
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Last week nearly 200 delegates from across Canada converged on Quebec City for CIRI's 29th Annual Investor Relations Conference. "That's quite a feat given current market conditions," says Yvette Lokker, president and CEO of CIRI.
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Revenue growth, especially average revenue growth over the previous three to five years, is a helpful metric for investors to consider when evaluating potential growth stocks. However, looking at revenues, even rapidly growing revenues, can be misleading for investors because revenues viewed in isolation fail to indicate a company's current profitability or future prospects for profit.
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The Alberta Securities Commission (ASC) is adopting ASC Rule 13-501 Fees (Fee Rule), which will become effective on December 1, 2016, subject to obtaining the necessary Ministerial approval. The Fee Rule covers the payment of all fees to the ASC and, once effective, will replace the previous ASC fee regulations.
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Activist shareholders, those with shares in a company who have ideological clashes with the company, are becoming more of a problem in the corporate domain. Clashes can be centered on human rights, environmental issues or corporate political spending disagreements. The activist shareholders can stop progress when they initiate negative PR or back proxy battles.
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Shareholder activism is an expensive venture.
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Four major disruptive changes in the past several years have coalesced to create an environment in which CFOs can excel as strategic thinkers.
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Corporations may be settling with activist shareholders and granting them board seats more quickly than in the past, in part because it helps entrench the company's directors.
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Every corporation is governed by corporate legislation (such as the Business Corporations Act (Alberta)), articles of incorporation and by-laws. These documents cover the basic rules and procedures by which a corporation is governed. However, there may be instances where shareholders will want to agree on matters beyond the scope of the legislation and constating documents of the corporation.
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