Timely Disclosure

Timely Disclosure

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

Tag Archives: Compliance

IIROC Oversight Review Report

Posted in Securities Regulatory Authorities
On April 24, 2018, the Canadian Securities Administrators published the Oversight Review Report of the Investment Industry Regulatory Organization of Canada (Report). The Investment Industry Regulatory Organization of Canada (IIROC) is a not-for-profit self-regulatory organization that regulates investment dealers and trading on Canada’s capital markets with a view to protecting investors and maintaining fairness and order… Continue Reading

New disclosure obligation: What you should know about the “Financial Information – Annual form”

Posted in Securities Registration & Registrants, Securities Regulatory Authorities
Fasken Martineau’s Investment Products and Wealth Management team wishes to remind dealers and advisers registered under the Securities Act (Quebec) (the “registrants“) that as of June 19, 2017, registrants are subject to a new financial information disclosure obligation. Registrants whose main regulator is the Autorité des marchés financiers (the “AMF“) must now complete a new annual form which… Continue Reading

Statutory Compliance, and the Continued Relevance of the Oppression Remedy, in the Wake of Mennillo v. Intramodal inc.

Posted in Contested Situations
In its decision Mennillo v. Intramodal inc., 2016 SCC 51 (Intramodal), the Supreme Court of Canada (Court) was asked whether a corporation’s failure to comply with statutory formalities was oppressive against a shareholder. The majority ruled that based on the facts the company’s failure to comply with certain Canada Business Corporation Act (CBCA) requirements did… Continue Reading

OSC finds significant deficiencies at exempt market dealers

Posted in Continuous & Timely Disclosure, Corporate Governance, Securities Regulatory Authorities
The Ontario Securities Commission (OSC) published OSC Staff Notice 33-746 (Notice) on September 21, 2015. The Notice focuses on registered firms and individuals directly overseen by the OSC describing the initiatives within the Compliance and Registrant Regulation Branch (CRR), notices published, rule amendments and regulatory action taken as a result of registrant misconduct.   The OSC encourages… 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

Registrants’ Disclosure of Outside Business Activities – OSC Late Fee Amnesty

Posted in Continuous & Timely Disclosure, Securities Regulatory Authorities
Further to amendments to National Instrument 33-109 Registration Information (NI 33-109) on January 11 of this year, the Form 33-109F4 Registration of Individuals and Review of Permitted Individuals (F4) was amended and sets out that registered and permitted individuals (representatives) must disclose other business activities (OBA) relating to all officer, director or equivalent positions held,… Continue Reading