OSC Initiates a Pre-Filing Review of a Mining Company’s Technical Disclosure in Short Form Prospectus Offerings
OSC takes action to reduce burden for mining issuers On June 6, 2019, the Ontario Securities Commission (“OSC”) announced the adoption of an important pre-filing review process for mining issuers (see Staff Notice 43-706 Pre-filing Review of Mining Technical Disclosure)....
An Integrated and National Approach to Securities Regulation
Canada’s pursuit of an integrated and national approach to securities regulation recently received a significant boost. On November 9, 2018, the Supreme Court of Canada released its decision in the Reference re Pan-Canadian Securities Regulation. The Supreme Court of Canada...
CSA Releases Results of Review and Guidance for Reporting Issuers in Cannabis Industry
Overview The Canadian Securities Administrators (the “CSA”) released Staff Notice 51-357 (the “Notice”) on October 10, 2018. The guidance in the Notice was based on a review (the “Review”) of 70 reporting issuers, in several different countries, operating with various...
Is an ICO Right for your Company?
Since the cryptocurrency mania hit in 2017, there has been no trendier, and in many cases, no more successful way to raise money than to sell tokens in what has become most commonly known as an “initial coin offering” or...
Staff Notice 46-308 – Securities Law Implications for Offerings of Tokens
On June 11, 2018, Canadian Securities Administrators (CSA) issued Staff Notice 46-308 Securities Law Implications for Offerings of Tokens (the “Notice”). This Notice is intended to provide further clarification to those wishing to offer tokens for sale in Canada, particularly...
CSA to Publish New Staff Notice on Token Offerings
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Ontario’s Rules for Distributing Securities Abroad: How They May Impact Security Token Offerings
As reported in our previous notice, the Ontario Securities Commission (“OSC”) recently introduced Rule 72-503 Distributions Outside Canada (“Rule 72-503”), which came into force on March 31, 2018, and set out rules applicable to the issuances of securities outside of...
OSC Rule for Distributions Outside of Canada Coming Into Force
The Ontario Securities Commission (the “OSC”) has adopted OSC Rule 72-503 Distributions Outside Canada (the “Rule”) along with Companion Policy 72-503CP (“72-503CP”), both of which will come into force on March 31, 2018. The purpose of the Rule is to...
CSA Provides Clarification to Issuers with U.S. Marijuana-Related Activities
On February 8, 2018, the Canadian Securities Administrators (the “CSA”), the umbrella organization of Canada’s provincial and territorial securities regulators, published CSA Staff Notice 51-352 (Revised) Issuers with U.S. Marijuana-Related Activities (the “Revised Notice”), which sets out the CSA’s latest...
CSA Provides Clarification to Issuers with U.S. Marijuana-Related Activities
On February 8, 2018, the Canadian Securities Administrators (the “CSA”), the umbrella organization of Canada’s provincial and territorial securities regulators, published CSA Staff Notice 51-352 (Revised) Issuers with U.S. Marijuana-Related Activities (the “Revised Notice”), which sets out the CSA’s latest...
