ARTICLE · 06 NOVEMBER 2017

Guidance For Public Issuers With U.S. Marijuana-Related Activities

Torkin Manes LLP

Explore more from Torkin Manes LLP

As part of the TSX's standard review of listed issuers, the TSX will conduct in-depth reviews on select issuers' continuous disclosure records.

CanadaFinance and Banking

Andrew J. Wilder

Author LinkedIn connections

Canadian cannabis stocks took a downturn on October 16, 2017 when the Toronto Stock Exchange ("TSX") issued staff notice 2017-0009 ("TSX Staff Notice"), which provided guidance to applicants and listed issuers in respect of their obligations to comply with U.S. laws, specifically the federal Controlled Substances Act. The TSX Staff Notice formalized the position of the TSX that issuers with ongoing business activities in contravention of U.S. federal laws regarding cannabis are, consequently, non-compliant with the TSX's listing requirements, which could make the issuer subject to delisting. The TSX Venture Exchange issued a substantially similar bulletin to that of the TSX Staff Notice.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Expanding Beyond Financial Services: Draft Regulations For Federally Regulated Financial Institutions

CanadaFinance and Banking

A Pharmacist’s Guide To: Structuring Loans And Financing

CanadaFinance and Banking

Canada’s Stablecoin Regulatory Framework: Accelerating Forward

CanadaFinance and Banking

CSA Finalizes Amendments To Non-GAAP And Other Financial Measure Disclosure Requirements Ahead Of IFRS 18 Implementation

CanadaFinance and Banking

Blake, Cassels & Graydon LLP

The Q3 2026 PE Briefing

CanadaFinance and Banking

Bennett Jones LLP

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

Comparative Guide

Acquisition Finance

Comparative Guide

Alternative Investment Funds

Comparative Guide

Capital Markets

Comparative Guide

Banking & Finance

See more popular content from

Finance and Banking

FINTRAC Money Services Business Registration (MSB Licence)

Expanding a payment business into Canada requires navigating FINTRAC's Money Services Business registration framework. Understanding the regulatory requirements, compliance obligations, and practical steps for MSB registration helps international payment providers establish compliant operations in one of the world's most established financial markets.

CanadaFinance and Banking

Michael Chambers & Co LLC

Payments Regulatory Year In Review And 2026 Outlook

This Bulletin summarizes key regulatory developments impacting the payments sector in 2025 and looks ahead to 2026.

CanadaFinance and Banking

Overview Of ILPA Principles 3.0 And Model LPA

The Institutional Limited Partners Association (ILPA) recently released the third version of its principles (Principles 3.0), as well as a form of limited partnership agreement (model LPA, and...

CanadaFinance and Banking

Bank Of Canada Publishes First RPAA Enforcement Decisions Against Payment Service Providers

The Bank of Canada (the Bank) has begun to exercise its enforcement powers under the Retail Payment Activities Act (RPAA), publishing its first enforcement decisions involving Notices of Violation against payment service providers (PSPs). Each published enforcement decision to date has involved a zero dollar administrative monetary penalty (AMP).

CanadaFinance and Banking

Bennett Jones LLP

A New Structure Enters The Ring: CIRO’s Incorporated Approved Person Compensation Proposal

The Canadian Investment Regulatory Organization’s (CIRO) proposed Incorporated Approved Person model could materially change how client-facing advisors structure their businesses and receive compensation with significant impacts to sponsoring firms. The proposed rule amendments, published on July 9, 2026, would introduce a harmonized incorporated compensation option for client-facing Approved Persons across CIRO regulated dealers. Comments are due November 6, 2026.

CanadaFinance and Banking

Borden Ladner Gervais LLP

Prediction Markets In Canada: A Category-by-Category Regulatory Framework

Canadian regulators have established a category-by-category framework for prediction markets, permitting certain economic and financial event contracts through securities dealers while directing sports and entertainment contracts outside that regime. This emerging approach creates distinct regulatory pathways depending on contract structure and underlying event type, raising critical questions about classification, market integrity, and compliance for platforms, dealers, and financial institutions navigatin

CanadaFinance and Banking

Bennett Jones LLP

Federal Financial Services Regulatory Updates: OSFI’s Third Quarterly Release Of 2026

The Office of the Superintendent of Financial Institutions (OSFI) published its third quarterly release of the year on September 10, 2026, noting that the targeted adjustments made to its guidance were made with a view to supporting a resilient and competitive Canadian financial system.

CanadaFinance and Banking

Weathering The Tariff Storm: Federal And Provincial Support Programs Available To Canadian Businesses

Canadian federal and provincial governments have launched targeted support programs to help businesses weather tariff disruptions and pivot operations. These programs offer liquidity assistance, working capital loans, and funding for market diversification, complementing broader regulatory and tax incentives being deployed across the country.

CanadaFinance and Banking

The Q3 2026 PE Briefing

The Canadian private equity landscape navigates a transition period marked by prolonged market volatility and stalled exit activity, yet demonstrates resilience through strategic investments in high-growth sectors. Q3 2026 analysis reveals how larger commitments, power and utilities investments, evergreen fund expansion, and healthcare sector dynamics are shaping the market amid escalating trade tensions and evolving investor strategies.

CanadaFinance and Banking

Bennett Jones LLP

Speculation Or Security: Canada’s Evolving Regulatory Framework For Prediction Markets

Canadian securities regulators have established a limited framework for prediction markets, restricting which event contracts can be offered to investors and under what conditions. While certain economic and financial forecasts may be traded through authorized dealers, contracts based on political events, sports, or entertainment remain prohibited, and compliance with securities law does not resolve potential exposure under criminal gambling provisions.

CanadaFinance and Banking