On March 20, 2014, the Ontario Securities Commission published four new prospectus exemptions for a 90-day public comment period, including a prospectus exemption for equity crowdfunding (the “Crowdfunding Exemption”).
The Ontario Securities Commission, the Autorité des marchés financiers (Québec), the Financial and Consumer Affairs Authority of Saskatchewan, Financial and Consumer Services Commission of New Brunswick, the Manitoba Securities Commission and the Nova Scotia Securities Commission (Participating Jurisdictions) published on March 20, 2014 for a 90-day comment period
The Ontario Securities Commission, the Autorité des marchés financiers, the Financial and Consumer Affairs Authority of Saskatchewan, Financial and Consumer Services Commission of New Brunswick, the Manitoba Securities Commission and the Nova Scotia Securities Commission (Participating Jurisdictions) published on March 20, 2014 for a 90-day comment period
British Columbia has no special franchise legislation – franchise relationships are governed by the terms of franchise agreements and the common law of contracts.
In January, we observed that the Supreme Court of Canada’s decision in Hyrniak v. Mauldin on Ontario’s summary judgment rule would have effects in class action litigation, including effects outside of Ontario.
The Second Opinion: a Defamation Claim Without “Merit” — BCCA Shields Directors from Liability for Statements Made As Part of Continuous Corporate Disclosure
Public corporations are required by law to provide continuous disclosure of information likely to be relevant to existing or potential shareholders.
Canadian Regulator Maintains Express Consent Requirement for Autodialed Telemarketing Calls and Revises Existing Autodialer Rules
The Canadian Marketing Association (CMA) did not get the relief it sought this week when the Canadian Radio-television and Telecommunications Commission (CRTC) issued a Compliance and Enforcement Regulatory Policy decision denying the CMA’s request that telemarketers be allowed to place calls using an automatic dialing-announcing device (ADAD) without express consent, as long as there is an existing business relationship with the called party.
“Fraud On the Market” and Securities Class Actions: Canadian Domiciled Companies Await the US Supreme Court’s Ruling in Halliburton Co. V. Erica P. John Fund Inc.
Our team has been monitoring some key developments that could soon impact US and Canadian companies that list shares on US exchanges. One of 2014′s most important legal developments is likely to flow from the US Supreme Court’s ruling on “fraud on the market” theory, to be rendered in Halliburton Co. v. Erica P. John Fund Inc. (“Haliburton”). Oral argument in Halliburton took place on March 5, 2014.
On March 28, 2014, IIROC released a notice (14-0082) summarizing the results of an online survey on the issue of best execution of its members engaged in secondary market trading of listed securities. The survey was conducted between December 2012 and February 2013.
ASX Requirement for Non-transferable Exchangeable Shares May Disadvantage Australian Corporations Looking at a Canadian Acquisition Transaction
On March 31, 2014, Mamba Minerals, together with its wholly-owned subsidiary, Champion Exchange (Canco), completed the acquisition of all of the common shares of Champion Iron Mines (Champion) by means of a court-approved plan of arrangement.