Timely Disclosure

Timely Disclosure

Updates and Commentary on Current issues in M&A, Corporate Finance and Capital Markets

Category Archives: Uncategorized

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Canadian Securities Administrators Implement Enhanced Oil and Gas Disclosure Requirements

Posted in Continuous Disclosure, Disclosure, Uncategorized
On December 4, 2014, the Canadian Securities Administrators (CSA) published amendments to National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NI 51-101) and Companion Policy 51-101 Standards of Disclosure for Oil and Gas Activities and related forms. The amendments will: permit disclosure from alternative resources evaluation standards and regimes, provided that such… Continue Reading

Divulgation des activités professionnelles externes des personnes physiques inscrites et autorisées — Amnistie des frais de retard de la CVMO

Posted in Uncategorized
Suite aux modifications au Règlement 33-109 sur les renseignements concernant l’inscription (Règlement 33-109) apportées le 11 janvier dernier, le Formulaire 33-109A4 inscription d’une personne physique et examen d’une personne physique autorisée (Formulaire 33-109A4) a été modifié et prévoit que les personnes inscrites et les personnes autorisées (les représentants) doivent divulguer chacune des activités professionnelles externes exercées y… Continue Reading

OSC Publishes Report on its Review of REIT Distributions Disclosure

Posted in Continuous Disclosure, Disclosure, OSC, Public Offering and Exemptions, Securities Regulatory Authorities, Uncategorized
After reviewing the continuous disclosure records of 30 Ontario-based real estate investment trusts (REITs), the Ontario Securities Commission (OSC) staff, in OSC Staff Notice 51-724 Report on Staff’s Review of REIT Distributions Disclosure issued January 26, 2015, has provided additional guidance on its expectations for disclosure by REITs regarding the source of distributions paid to… Continue Reading

2015 ISS and Glass Lewis Updates

Posted in Contested Situations, Mergers and Acquisitions, Plan of Arrangement, Proxy Contests, Shareholder Rights Plans / Poison Pills, Take-Over Bids, TSX, Uncategorized
Institutional Shareholder Services (ISS) and Glass, Lewis & Co. (Glass Lewis) have both released updates to their Canadian proxy voting recommendation guidelines for the 2015 proxy season. The items updated include those pertaining to the definition of independence, advance notice requirements, by-law amendments, private placements, treatment of majority voting policies, shareholder rights plans and advance… Continue Reading