Canadian Securities Law

The long awaited draft derivatives registration rule, proposed National Instrument 93-102 Derivatives: Registration, released for comment April 19, will impose new regulatory requirements on the Canadian OTC derivatives market which currently operates... Read more

The Canadian Securities Administrators’ proposed National Instrument 93-102 Derivatives: Registration, prescribing the derivatives dealer and advisor registration regime, proposes relatively light regulation of foreign firms that restrict their... Read more

The Canadian Securities Administrators (CSA) are seeking comments on soliciting dealer arrangements in an effort to assess whether any additional guidance or rules are required in respect of such arrangements. While the use of soliciting dealer arrangements... Read more

The Alberta Securities Commission (ASC) has proposed the repeal and replacement of ASC Rule 72-501 Distributions to Purchasers Outside Alberta (ASC Rule 72-501) in an effort to facilitate offerings by Alberta issuers to investors outside the province.... Read more

Effective June 12, 2018, Canadians holding securities of “foreign issuers” (i.e., non-Canadian issuers) will have more flexibility to resell those securities outside of Canada in reliance on a new prospectus exemption. The Canadian Securities... Read more

The Investment Industry Regulatory Organization of Canada (IIROC) recently issued a notice setting out how a member (Dealer Member) may make an application for an exemption from the IIROC Dealer Member rules, other than proficiency requirements. Content... Read more

The Investment Industry Regulatory Organization of Canada (IIROC) is seeking comments on proposed amendments to the Dealer Member Rules to require the prompt mandatory reporting of a cybersecurity incident by Dealer Members (Dealers). IIROC asks that Dealers... Read more

Natural Resources Canada (NRCan) has published revised implementation tools under the Extractive Sector Transparency Measures Act (ESTMA) nearly two years after its initial implementation. The revised tools result from the review of submissions of reporting... Read more

OSC Rule 72-503 – Distributions Outside Canada (OSC Rule 72-503) came into force on March 31, 2018 and provides explicit exemptions from the prospectus requirement in Ontario for issuers distributing securities to investors outside Canada. Exemptions... Read more