Toronto Stock Exchange (“TSX”) has made certain amendments (the “Amendments”) to Section 606 – Prospectus Offerings of the TSX Company Manual. The Amendments aim to provide greater clarity and transparency to issuers as they structure prospectus financings, resulting in expanded access to capital by facilitating timely deal making.
![]()
| View Original |
On April 13, 2023, the Canadian Securities Administrators (CSA) released a Notice and Request for Comment (the Notice) proposing amendments to current corporate governance disclosure requirements and best practice guidelines relating to diversity, board renewal and the director nomination process (the Amendments).
![]()
| View Original |
The International Sustainability Standards Board (ISSB) will shortly be seeking feedback on its future priorities for the next two years. In May 2023, the ISSB plans to publish a request for information about its agenda priorities with a comment period of 120 days.
![]()
| View Original |
The U.S. Securities and Exchange Commission (SEC) is expected to drop its finalized climate disclosure rule any day now. Once released, the rule will require around 7,000 companies listed on U.S. exchanges to report climate information that’s material to their businesses in their periodic financial filings.
![]()
| View Original |
As part of the 2023 federal budget, tabled on March 28, 2023, the government has introduced draft legislation to implement a new 2% tax on share buybacks that was first announced in November 2022 as part of the government’s Fall Economic Statement. This tax (referred to below as the “Buyback Tax”) will apply to both normal course issuer bids and substantial issuer bids, among other transactions, and will affect a range of publicly traded entities.
![]()
| View Original |
The Canadian Securities Administrators (CSA) congratulate Charles-Antoine St-Jean on his appointment as the first-ever Chair of the Canadian Sustainability Standards Board of Canada (CSSB).
![]()
| View Original |
The Canadian Securities Administrators (CSA) is seeking public comment on proposed amendments to corporate governance disclosure rules and policy relating to the director nomination process, board renewal and diversity. They would require disclosure on aspects of diversity beyond the representation of women, while retaining the current disclosure requirements with respect to women. In addition, the CSA is proposing changes to the corporate governance policy that would enhance the existing corporate governance guidelines relating to the director nomination process and introduce guidelines regarding board renewal and diversity.
![]()
| View Original |
Consumer AI services like chatGPT, Bing and Bard are chatbot-like tools that use language processing models based on AI technology to answer questions. In recent months, these tools have exploded in popularity, being typically free, easy to access through a browser, user-friendly - and in many cases quite impressive in what they can produce in response to question prompts.
![]()
| View Original |
Companies reporting under the new climate disclosure standards being developed by the International Sustainability Standards Board (ISSB) of the IFRS Foundation will be given an additional year to provide disclosure on some sustainability-related risks, in order to enable them to first focus on climate-related reporting, according to an announcement by the ISSB following its most recent meeting.
![]()
| View Original |