Broad But Not Infinite – OSC Decision Opens Door to Prospectus Offering by Bitcoin Fund; Restrains Use of Public Interest Power December 27, 2019 Joseph Bricker Ramandeep K. Grewal A panel of the Ontario Securities Commission (OSC), consisting of a single commissioner, recently ordered that a prospectus receipt be issued for a new Bitcoin Fund (the Fund) managed by 3iQ Corp. (the Manager), overruling an earlier decision by the Director... Read more
Retail Investment Funds: An Updated Guide to the Regulatory Landscape in Canada November 21, 2019 Darin R. Renton Jonathan W. Willson Three members of our Toronto office who work with investment funds recently authored the Canadian chapter of Practical Law’s Global Guide 2019: Retail Investment Funds. This publication provides a concise overview of the legal and regulatory... Read more
CSA Propose Reforms to Reduce Regulatory Burden for Investment Funds November 1, 2019 Nicholas Badeen Malcolm Peck-McQueen The Canadian Securities Administrators (the CSA) have published for comment proposed amendments (the Proposed Amendments) intended to reduce the regulatory burden on investment funds. The Proposed Amendments published in the CSA Notice and Request... Read more
Certain Services Outsourced By Fund Manager May Be GST/HST Exempt, Federal Court of Appeal Rules November 1, 2019 Jean-Guillaume Shooner Reversing a ruling of the Tax Court of Canada, the Federal Court of Appeal has determined, with respect to a complex funding arrangement for broker commissions in connection with the sale of mutual funds’ securities to investors, that the mutual... Read more
Virtual Currency Regulation in Canada in 2019: A Changing Landscape Comes Into Focus October 15, 2019 Alix d'Anglejan-Chatillon Ramandeep K. Grewal Four Stikeman Elliott lawyers recently co-authored the Canadian chapter of The Virtual Currency Regulation Review (2nd ed.), published by Law Business Research Ltd. The chapter provides an excellent overview of this rapidly developing area of law, including... Read more
Royalty Holders are Invested in the Land: Court in Dianor Resources concludes royalties are an interest in land not to be vested out July 17, 2019 Daphne J. MacKenzie Kelly Niebergall In a pair of decisions[1], the Ontario Court of Appeal considered (i) whether a gross overriding royalty (GOR) is an interest in land and (ii) whether an interest in land can be extinguished by a vesting order (and, if so, when). Deliberately recognizing... Read more
Bank Secrecy Laws (Canada) May 16, 2019 Shawn Smith Wesley R. Ng Shawn Smith and Wesley Ng, who practice in our Technology and Privacy & Data Protection Groups, along with Practical Law Data Privacy Advisors, recently authored the Canadian chapter of Practical Law Company’s Bank Secrecy Laws. This publication... Read more
SEMINAR: Smart Contracts - Impact for Commercial Financing Transactions February 19, 2019 Sterling H. Dietze Sterling Dietze, a partner in the Banking & Finance Group, discusses smart contracts and their impact on commercial financing transactions. (1 hour, 17 minutes) > See all Stikeman Elliott multimedia content ... Read more
TLAC and Bail-in Capital: A “Worthwhile Canadian Initiative” December 4, 2018 Peter E. Hamilton Draft regulations implementing Canada’s “bail-in” solvency support regime for banks came into effect on September 23, 2018. The bail-in regime essentially requires that banks maintain “embedded contingent capital” in the... Read more
OSFI Releases Final Updated Corporate Governance Guideline September 26, 2018 Stuart S. Carruthers On September 18, 2018, Canada’s federal financial institutions regulator, the Office of the Superintendent of Financial Institutions (“OSFI”), released the final version of its revised and updated Corporate Governance Guideline (the... Read more