ARTICLE · 20 MARCH 2014

Dealing With Securities Commissions

McLennan Ross LLP

If you are a director, officer, auditor, or even an employee of a public corporation, one day you could receive an official letter from a Securities Commission.

CanadaCorporate/Commercial Law

Graham McLennan

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If you are a director, officer, auditor, or even an employee of a public corporation, one day you could receive an official letter from a Securities Commission ("Commission"). In Alberta the letter would most likely be from the Alberta Securities Commission. If the public company trades on a U.S. exchange, you may also receive a letter from the Securities and Exchange Commission ("SEC"), which regulates trading of public securities in the United States.

The first thing that you should do upon receiving any such letter is seek legal advice. Responding to official inquiries from Commissions is a serious matter. If the responses are not complete or misleading, then you could be facing a separate charge under the relevant Securities Act for failing to comply with the Act or regulations.

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Dealing With Securities Commissions

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