Insights

The practice of law is changing every day, and the effect of changing legislature on businesses is significant. We write about recent developments in the world of tax & business law, keeping a watchful eye on the changing landscape for our clients. See what we’re thinking about, and what your business should be looking out for.

  • Joe Headshot (1)By Joe BrennanMarch 26 2018
    Business LawA Reminder for D&O’s re: Civil Liability for Secondary Market Disclosure

    Investors that purchase the securities of a Canadian public company on the secondary market (i.e. on a stock exchange) may bring claims against the company and its directors and officers for (i) a misrepresentation in a document or in a public oral statement or (ii) a failure to make timely disclosure of a material change. This article provides a very simplified refresher course on those potential civil liabilities.  

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  • Joe Headshot (1)By Joe BrennanMarch 23 2018
    Business LawCanadian Disclosure Requirements for US Marijuana Issuers

    Many jurisdictions in the United States now permit the use and sale of marijuana within a regulatory framework. Consequently, several Canadian public companies currently have, or are in the process of developing, marijuana-related activities in such U.S. states (U.S. Marijuana Issuers). However, marijuana continues to be listed as a controlled substance under U.S. federal law. As such, marijuana-related practices or activities, including the cultivation, possession or distribution of marijuana, are illegal under U.S. federal law.  This is a significant risk factor, and raises concerns about the disclosure requirements under Canadian securities laws, for U.S. Marijuana Issuers. The Canadian Securities Administrators (CSA) have recently issued CSA Staff Notice 51-352 (Revised) outlining its specific disclosure expectations for U.S. Marijuana Issuers.

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  • Joe Headshot (1)By Joe BrennanMarch 16 2018
    Business LawOSC Adopts Rule 72-503 For Offshore Distributions

    The Ontario Securities Commission (OSC) recently adopted OSC Rule 72-503 Distributions Outside Canada.  This new rule provides four new prospectus exemptions relating to distributions outside of Canada by Ontario issuers and will come into force on March 31, 2018. For the most part, these new exemptions simply codify the interpretation of existing securities legislation in Canada and are intended to bring greater certainty to cross-border activities by Ontario issuers.  They are also similar, but not identical to rules already in place in other Canadian jurisdictions such as British Columbia and Alberta. 

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  •  (1)By March 06 2018
    Tax LawThe 2018 Federal Budget: Tax Reform for Private Corporations is Softened

    The 2018 Federal Budget has been more anticipated than usual for private corporations and their tax advisors. The Budget contains many items of interest for private corporations and high net-worth individuals with corporate-held investments, and is not as punitive as some have feared.

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  • Mo Headshot (1)By Mohamed AmeryMarch 05 2018
    LitigationForcing an Opposing Party to Take Urgent Action before Trial

    There are essentially two types of interlocutory (pre-trial) injunctions: 1) a prohibitive injunction and 2) a mandatory injunction.  

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  • Matt Clark Headshot (1)By Matthew ClarkMarch 01 2018
    Tax Law2018 Federal Budget: What Private Companies Need to Know

    On February 27, 2018 the Department of Finance (“Finance”) released its 2018 federal budget (the “Budget”). Given the climate surrounding private companies, this Budget in particular was eagerly awaited by owner managers and tax advisors. While the Budget contains many items of interest for large private companies and high net-worth individuals with corporate-held investments, it is not as punitive as some have feared. 

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