In the second quarter of 2013, the Ontario Securities Commission
(the 'OSC') reviewed compliance with
Forward-Looking Information ('FLI')
disclosure requirements and identified areas needing improvement.
The OSC also reviewed technical reports filed by mining issuers and
found compliance with disclosure requirements to be
'unacceptable'. The Ontario government passed a budget bill
that increases the OSC'"s ability to share information
across borders and prosecute insider trading and fraud violations.
The U.S. Securities and Exchange Commission (the
'SEC') adopted significant amendments that
came into force this September. Most notably, the Canadian
Securities Administrators (the 'CSA')
published final amendments which would have the effect of
eliminating the prohibition against general solicitation in
offerings. The final amendments published by the CSA will, when
they come into force, increase permissible pre-marketing and
marketing activities permitted by issuers
