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The U.S. Securities and Exchange Commission (SEC) recently issued a concept release on the US proxy voting system in the United States that discusses, among other topics, the role and regulation of proxy advisory firms and proposed regulatory reforms related to them.

Given the focus on corporate ethics, many public companies have instituted extensive blackout periods during which insiders are prohibited from trading in securities of the company. Blackout periods usually span quarter-ends, year-end and other periods during which there may be material information about the company that is undisclosed.

On February 27, 2008, the Ontario Securities Commission ("OSC") released OSC Staff Notice 51-716 Environmental Reporting ("Staff Notice 51-716") outlining the results of a targeted review of 35 public companies' compliance with continuous disclosure requirements related to environmental matters under National Instrument 51-102 "Continuous Disclosure Obligations".

In Krayzel Corp. v. Equitable Trust Co. The mortgagor granted the lender a mortgage at an interest rate of prime plus 2.875% per annum to secure a $27M loan. The parties subsequently entered two mortgage renewal agreements.

On January 31, 2025, the Financial Statutes Amendment Act, 2024 (No. 2) (the "2024 Act") came into force, introducing a significant change to how mortgage registration levies are calculated in Alberta.

Further to a public request for comments issued on February 4, 2011, the Toronto Stock Exchange (TSX) has published amendments to the TSX Company Manual (Manual) relating to original listing requirements, aggregation of insider and related party transactions, and rights offerings.

The Bank of Canada issued on May 5, 2015 "Bank of Canada Emergency Lending Policies", a consultation paper setting forth proposed updates to the Bank's emergency lending policies.

The British Columbia Securities Commission has adopted a new BC-only report of exempt distribution which must be used for prospectus exempt distributions (private placements) in British Columbia on and after October 3, 2011.

The British Columbia Court of Appeal (the "Court") has ruled that the British Columbia Securities Commission (the "BCSC") has the jurisdiction to adjudicate enforcement proceedings against a person who trades on the TSX Venture Exchange (the "Exchange") regardless of their location.

In the 2024 federal budget released on April 16, the federal government stated its intention to explore new measures to expand access to alternative financing products...

A derivative action allows a shareholder to bring an action on behalf of the corporation. The shareholder effectively "stands in the shoes" of the corporation...

A power of sale is a very common mortgage remedy used by lenders where a borrower defaults under the applicable mortgage agreement.

On December 19, 2008, the Canadian Securities Administrators published for comment National Policy 58-201 "Corporate Governance Principles" and National Instrument 58-101 Disclosure of "Corporate Governance Practices", together with amendments to National Instrument 52-110 "Audit Committees" (the Proposals).

The Toronto Star has been relentless in its doom and gloom analysis of GTA real estate. Everyday, another article is published telling us that sales are dropping, prices are dropping...

On June 16, 2010, the UK government announced major changes to the UK's financial services regulatory structure that will result in the UK Financial Services Authority (FSA) ceasing to exist in its current form.

Companies often use stock option plans to attract, retain and motivate their employees and consultants, as well as to bring their interests into alignment with those of the shareholders. For early-stage companies, a policy of offering options has the additional advantage of conserving cash in the initial years. If such plans are not properly implemented, however, the options, or the shares issued on exercise of the options, may interfere with future financing or other transactions the company ma

On March 23, 2009, the Investment Industry Regulatory Organization of Canada published a notice entitled Best Practices for Product Due Diligence, which provides guidance for IIROC dealer members on the introduction and supervision of new financial products.

Investment bankers, sales representatives and company executives beware! Those who assume that a lawyer-prepared securities purchase agreement, signed by the investor and containing an "accredited investor" certification, will provide adequate protection from a charge of illegally trading in securities, do so at their own risk.