On October 11, 2016, the Toronto Stock Exchange (TSX) provided guidance with respect to pricing a prospectus offering or private placement where there is undisclosed material information. The TSX provided the following guidance:

  • While reviewing the price at which securities are issued from treasury for financings, the TSX will factor in trading activity,

The Ontario Securities Commission’s Investment Funds Branch released its latest Investment Fund Practitioner on November 8, 2012.   It provides an overview of recent issues relating to investment fund filings with the OSC including, among others, the following guidance:

  • Bulleted placeholders are not appropriate in place of certain material information even in preliminary prospectuses.
  • When there