Insights

The practice of law is changing every day, and the effect of changing legislation 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.

Business Law

ASC Expands Prospectus Exemptions for Distributions to Purchasers Outside Alberta

The Alberta Securities Commission (ASC) recently updated ASC Rule 72-501 Distributions to Purchasers Outside Alberta. This new rule significantly expands upon the exemptions available to an Alberta issuer where the...

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Business Law

Canadian Companies Need to Assess Their “Foreign Private Issuer” Status for SEC Reporting Purposes

Canadian companies wishing to access the US capital markets from time to time, and that have historically qualified as a “foreign private issuer” under US federal securities laws, need to...

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Business Law

CSA Staff Says Most Coin/Token Offerings Are Securities

On June 11, 2018, the Canadian Securities Administrators (CSA) provided guidance on when an offering of cryptocurrencies such as coins or tokens, including ones that are commonly referred to as...

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Litigation

Letter of Credit Security and the “Autonomy Principle”

In commerce, parties often provide security in the form of letters of credit. A party (the “promisor”) may provide security for performance of its obligations under a commercial transaction (“underlying...

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Business Law

OSC Provides Guidance on Hostile Take-Over Bids No Reduction of Minimum Bid Periods, Hard Lock-up Agreements are OK and Shareholder Rights Plans are Useless

Click here to view in PDF. On March 15, 2018, the Ontario Securities Commission released the rationale behind its decisions on various applications submitted to it as a result of...

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Business Law

Coming Soon – Mandatory Privacy Breach Reporting and Record-Keeping

Click here to view in PDF. Be aware that, effective November 1, 2018, the provisions of Canada’s Digital Privacy Act dealing with privacy breach notification and breach record keeping will...

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Business Law

A Reminder for D&O’s re: Civil Liability for Secondary Market Disclosure

Click here to view in PDF. 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...

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Business Law

Canadian Disclosure Requirements for US Marijuana Issuers

Click here to view in PDF. Many jurisdictions in the United States now permit the use and sale of marijuana within a regulatory framework. Consequently, several Canadian public companies currently...

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Business Law

OSC Adopts Rule 72-503 For Offshore Distributions

Click here to view in PDF. 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...

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Litigation

Forcing 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. The former is an order for a party to refrain from doing...

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