Share on LinkedInShare on LinkedIn

ARTICLE · 23 SEPTEMBER 2011

Securities Regulators Publish Staff Notice Regarding Mass Advertising

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Contributor
Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

As one of Canada’s top business law firms, Blake, Cassels & Graydon LLP (Blakes) provides...

View firm profile
Explore more from Blake, Cassels & Graydon LLP

Staff of the securities regulatory authorities of Alberta, Ontario, Quebec, Nova Scotia, New Brunswick and Northwest Territories (the Jurisdictions) have published CSA Multilateral Staff Notice 51-336 Issuers Using Mass Advertising (the Notice) setting out their views with respect to issuers using television, radio, Internet, social media or print advertising in an apparent effort to promote interest in their securities.

CanadaFinance and Banking
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Author LinkedIn connections

Copyright 2011, Blake, Cassels & Graydon LLP

Originally published in Blakes Bulletin on Securities Regulation, September 2011

Staff of the securities regulatory authorities of Alberta, Ontario, Quebec, Nova Scotia, New Brunswick and Northwest Territories (the Jurisdictions) have published CSA Multilateral Staff Notice 51-336 Issuers Using Mass Advertising (the Notice) setting out their views with respect to issuers using television, radio, Internet, social media or print advertising in an apparent effort to promote interest in their securities.

Under the securities legislation of the Jurisdictions, advertising or marketing activities undertaken during a period of distribution of securities or in furtherance of a distribution are subject to restrictions, including the prospectus requirement (unless an exemption is available). Restricted advertising or marketing activities may be oral, written or electronic, and include televised communications.

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

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

Read more about

Related Comparative Guides

See more popular content from

Article

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
McMillan LLP
McMillan LLP
Article

OSC Releases Crypto Asset Survey Results

The Ontario Securities Commission's 2026 survey reveals significant shifts in Canadian cryptocurrency adoption, awareness, and sentiment. With ownership rates more than doubling since 2023 and a growing belief that crypto will play a key role in Canada's financial system, the findings paint a picture of an evolving landscape where traditional financial advisors increasingly recommend crypto investments, yet regulatory awareness remains surprisingly low among the general population.
CanadaFinance and Banking
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Article

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
Bennett Jones LLP
Article

Canada Imposes Counter-Tariffs On C$27.6-Billion Of U.S. Imports, Effective September 8, 2026

Canada has announced C$27.6-billion in counter-tariffs on U.S. imports, effective September 8, 2026, targeting over 700 product classifications across steel, aluminum, dairy, electronics, and other sectors. The measures represent a dollar-for-dollar response to U.S. Section 338 tariffs, with rates ranging from 15% to 50% depending on the product category. The government has also introduced a C$7.5-billion support package for affected Canadian workers and businesses.
CanadaInternational Law
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Digging Deeper: Canadian Mining Sector Tax Update

Canada’s mining sector is at an important inflection point. Against a backdrop of growing global demand for critical minerals and increased competition for investment capital, the Canadian federal government has recently introduced a series of tax measures designed to encourage investment and strengthen the competitiveness of Canada’s mining industry. For investors, these measures may meaningfully influence the after-tax economics of projects and financing structures across the mining value chain.
CanadaEnergy and Natural Resources
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Fall Forecast: What To Watch In Canada’s Communications Sector

Canada's broadcasting, telecommunications, and satellite industries face significant regulatory changes this fall as Parliament advances key legislation. From the CRTC's implementation of the Online Streaming Act amid U.S. trade tensions to new lawful access requirements for service providers and the establishment of Canada's first space launch framework, these developments will reshape operational requirements across the communications sector.
CanadaMedia, Telecoms, IT, Entertainment
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Snap Election, Strict Rules: Navigating Compliance While Engaging In B.C.’s Provincial Election

British Columbia's snap election on October 24, 2026, brings unprecedented compliance challenges for businesses seeking to engage in policy discussions. With some of Canada's strictest lobbying rules, stringent election financing laws, and new foreign influence regulations all converging during the campaign period, organizations must navigate a complex web of registration requirements, spending caps, and reporting obligations while avoiding significant legal and reputational risks.
CanadaGovernment, Public Sector
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Kalibrate Consent Agreement Targets Third-Party Information Sharing As Abuse Of Dominance

On September 24, 2026, the Competition Bureau (Bureau) announced it had entered into a consent agreement with Kalibrate Canada Inc. (Kalibrate) to address concerns regarding Kalibrate’s collection and distribution of detailed retail fuel data through its Kalibrate Market Intelligence product (KMI). More broadly, the matter signals the Bureau’s willingness to challenge information-sharing arrangements under multiple provisions of the Competition Act (Act), including through abuse of dominance where the intermediary itself is alleged to be dominant.
CanadaAntitrust/Competition Law
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Ontario Proposes Amendments To Streamline Electricity Transmission Development

Ontario's Ministry of Energy and Mines has proposed exempting electricity transmission projects procured by the Independent Electricity System Operator from the traditional leave to construct approval requirement. This regulatory change could significantly streamline the development timeline for bulk system transmission infrastructure, including the pending Toronto Third Line procurement, while maintaining environmental assessment and Indigenous consultation requirements.
CanadaEnergy and Natural Resources
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Competition Bureau Reaches Consent Agreement With Empire Company Limited Regarding Grocery Property Controls

The Competition Bureau of Canada has entered into a consent agreement with Empire Company Limited, parent of major grocery chains including Sobeys and Safeway, restricting the company's use of property controls that limit competition. This agreement prohibits Empire from enforcing certain restrictive covenants and exclusivity clauses that prevent other grocers from operating nearby, despite Empire's earlier voluntary commitments. The Bureau's action signals heightened regulatory scrutiny of property control
CanadaAntitrust/Competition Law
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP