No Such Thing As March Break (2018) – Selected Corporate And Securities Law Developments

March was once again a busy month this year for corporate and securities law developments, with the publishing of staff notices by the Toronto Stock Exchange (TSX), the Ontario Securities Commission (OSC) and Canadian Securities Administrators (CSA), as well as developments regarding proposed amendments to the Canada Business Corporations Act (CBCA) that continued to make their way through the legislative process. For last year's developments, please see our March 2017 Blakes Bulletin: No Such Thing as March Break – Selected Corporate and Securities Law Developments.

TSX

On March 22, 2018, the TSX published a Staff Notice to provide guidance on its rules concerning listing representations in offering documents. Pursuant to the notice, the TSX will not object to a representation being made that an issuer has applied to list its securities on the TSX, prior to receiving conditional listing approval. The TSX will generally consent to such representation being