On March 14, 2013, the Canadian Securities Administration
(CSA) issued for comment new proposed rules enhancing the reporting
requirements relating to the early warning reporting system.
You will find below a link to the CSA proposal, as well as the
various questions it raises for comments, and the proposed
amendments.
http://www.osc.gov.on.ca/en/SecuritiesLaw_mi_20130313_62-104_take-over-bids.htm
Nature and Purpose of Changes
The proposal would amend the early warning reporting
requirements of Multilateral Instrument 62-104 Take-Over Bids
and Issuer Bids (MI 62-104), National Policy 62-203
Take Over Bids and Issuer Bids (NP 62-203) and
National Instrument 62-103 Early Warning System and Related
Take-Over Bid and Insider Reporting Issues (NI 62-103).
These amendments, together with expected changes to the Ontario
Securities Act and OSC Rule 62‑504 Take-Over Bids
and Issuer Bids (OSC Rule 62-504), will apply in all
Canadian provinces and territories.