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The federal government has pressed ahead with its objective of establishing a national securities regulator under a voluntary regime that enables provinces and territories to opt in by choice.

The Office of the Superintendent of Financial Institutions (OSFI), Canada's top banking regulator, introduced new rules on mortgage lending this month, which will take effect January 1, 2018.

With the implementation of the Rule, the Canadian Securities Administrators intend that investors be provided with higher quality information on a more timely basis. To achieve this objective, the Rule imposes a number of filing requirements that reporting issuers previously did not have. Among those is a requirement to file a report disclosing the results of matters voted on at shareholder meetings.

On July 29, 2011 the Toronto Stock Exchange ("TSX") adopted, and the Ontario Securities Commission approved, the amendments to Part III, Part V and Part VI of the TSX Company Manual previously published in a request for comments on February 4, 2011.

If a borrower sells its business and the buyer agrees to assume the related indebtedness, does the lender of that indebtedness have to accept the buyer as its debtor in place of the original borrower?

On August 1, 2007, a package of amendments to the "Personal Property Security Act" (Ontario) (PPSA) came into force. One of the amendments was the repeal of then section 46(3).

The Ontario Securities Commission has recently granted relief to dealers distributing foreign securities by way of private placement into Canada to address uncertainties caused by new forward-looking information disclosure requirements.

On July 7, 2016, the OSFI released a letter advising FRFIs that it is tightening its supervisory expectations for residential mortgage underwriting.

Whereas the comments on the definition of securitized product and the prospectus disclosure proposals were quite limited and restrained, those on the proposed exempt market rules were both extensive and harshly critical. The general themes were common to most commentators.

Whereas the comments on the definition of securitized product and the prospectus disclosure proposals were quite limited and restrained, those on the proposed exempt market rules were both extensive and harshly critical.

As we discussed in a post last year, the Canadian Securities Administrators (CSA) proposed amendments on November 25, 2011 intended to expand the scope of marketing activities that can be conducted in connection with prospectus offerings.

On November 1, I had the opportunity to participate in a panel discussion on M&A Trends and Outlooks during OSC Dialogue 2011.

Regulatory amendments that became effective on July 1, 2018 significantly expand the disclosure and information-gathering obligations of mortgage brokerages dealing in non-qualified syndicated mortgage transactions.

Canadian Securities Administrators (CSA) Multilateral Staff Notice 51-336 Issuers Using Mass Advertising (the Notice) provides the views of staff of the securities regulators in Alberta, Ontario, Québec, Nova Scotia, New Brunswick and the Northwest Territories on TV advertisements apparently aimed at promoting interest in an issuer’s securities.

On October 9, 2008, the Supreme Court of Canada released its decision in "RBC Dominion Securities Inc. v. Merrill Lynch Canada Inc.", allowing, in part, the appeal brought by RBC Dominion Securities (“DS”).

The Supreme Court of Canada has unanimously rejected the federal government’s proposed Canadian Securities Act, which would have created a national securities regulator, as unconstitutional.

The Canadian Securities Administrators (the "CSA") have issued CSA Staff Notice 41-304 Income Trusts: Prospectus Disclosure of Distributable Cash (the "Notice"), which provides guidance to income trust issuers regarding prospectus disclosure of estimated distributable cash.