Sino-Forest Corp.’s shares plummeted after Carson Block and Muddy Waters’s earlier sensational allegations of fraud. On June 8, 2011, the OSC confirmed that it was investigating and that afternoon Sino-Forest shareholders launched a class action. The $6.5 billion class action...
The Canadian federal government released for public consultation two different sets of draft regulations under Canada’s anti-spam legislation (the “Act” or “CASL”)1. The Act seeks to combat internet and wireless spam, and certain unauthorized activities relating to electronic messages and...
The Ontario Securities Commission (the “OSC”) has issued OSC Staff Notice 33-735 (the “Staff Notice”) in respect of its concerns that issuers and dealers of securities are improperly relying on the accredited investor exemption found in section 2.3 of National...
On July 29, 2011, the Canadian Securities Administrators (CSA) published for comment significant changes to the regulatory regime for venture issuers. The proposed rules in National Instrument 51-103 are intended to streamline and tailor venture issuer disclosure in order to...
General The Canadian Securities Administrators has recently adopted amendment to NI 43-101 Standards of Disclosure for Mineral Projects. The changes were released after consultation with market participants and came into force on June 30, 2011. The summary below addresses the...
On April 1, 2011, the Canadian Securities Administrators (“CSA”) published proposed new rules for the regulation of securitized products that will fundamentally alter the existing framework in Canada (the “Proposal”). Securitized products, whether offered publicly by prospectus or in the...
