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ARTICLE · 24 NOVEMBER 2020

Guidance For Special Committees And Disclosure Obligations: A Catalyst Case Study

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The purpose of disclosure of related party transactions is to ensure that shareholders are adequately informed and protected from abusive or unfair conduct that can arise in such circumstances.

CanadaCorporate/Commercial Law
John M. Picone
John M. Picone
Kate Byers
Kate Byers
Danielle DiPardo
Danielle DiPardo
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In connection with its responsibility to protect investors by ensuring that regulated companies are meeting their disclosure obligations, the Ontario Securities Commission ("OSC") released a decision this year which emphasized proper disclosure of related party transactions.

The purpose of disclosure of related party transactions is to ensure that shareholders (and particularly minority shareholders) are adequately informed and protected from abusive or unfair conduct that can arise in such circumstances. The OSC has now confirmed that this protection extends to disclosure obligations for special committees, whether or not the special committees themselves are legally required.

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