Client Notes – OSC Update on Compliance and Registrant Regulation
201909.24
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Client Notes – OSC Update on Compliance and Registrant Regulation

The OSC Compliance and Registrant Regulation Branch (CRR) published the Summary Report for Dealers, Advisers and Investment Fund Managers (OSC Staff Notice 33-750) on August 8, 2019. The report provides information for exempt market dealers (EMDs), investment fund managers (IFMs), portfolio managers (PMs) and scholarship plan dealers. In Ontario, there are 1,053 firms registered in…

Client Notes – Franchise Updates
201909.05
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Client Notes – Franchise Updates

Executive Summary Franchisors, current franchisees and prospective franchisees take notice! There have been a series of changes to the Arthur Wishart Act (Ontario) (the “Act”), Ontario’s franchise legislation. Some of these changes include a broadened definition of “franchise,” which may increase the number of business relationships covered by the Act. As current franchise owners are…

Client Notes – Regulation of Digital and Crypto Asset Platforms
201905.14
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Client Notes – Regulation of Digital and Crypto Asset Platforms

Joint Canadian Securities Administrators/Investment Industry Regulatory Organization of Canada Consultation Paper 21-402: A Summary On March 14, 2019, the Canadian Securities Administrators (“CSA”) and Investment Industry Regulatory Organization of Canada (“IIROC”) (both CSA and IIROC collectively “the Regulators”) released a consultation paper discussing potential avenues for regulation of digital and crypto assets platforms (the “Paper”)….

Client Notes – ICOs and Blockchain 2.0
201807.24
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Client Notes – ICOs and Blockchain 2.0

Regulatory Treatment of Initial Coin Offerings: Changing Landscape? In November of 2017, we sent out a note on securities regulators’ approach to initial coin offerings. Since that time, there have been developments and increased scrutiny of block-chain based activities. Facts Regarding Cryptoassets (Cryptocurrencies, Digital Tokens, and Other Blockchain Based Assets) On June 28,2018, the Investor…

Rules are Changing for Syndicate Mortgages
201804.17
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Rules are Changing for Syndicate Mortgages

Spotlight on Syndicated Mortgages Syndicated mortgages are mortgages in which two or more persons participate, directly or indirectly, as lenders in the debt obligation that is secured by the mortgage. Some of these investments fund commercial and large-scale residential real estate developments in their early stages, and projects include condominium, office and retail complexes. According…

Client Notes – Cyber Security and Public Companies
201802.27
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Client Notes – Cyber Security and Public Companies

Threats and costs of cyber attacks According to PwC’s Global State of Information Security Survey 2016, which collected responses from more than 10,000 executives from 127 countries, the total number of security incidents detected by respondents in 2015 was up 38% compared to 2014. Previous Global State of Information Security Surveys indicate that security incidents…

Client Notes- Proposed Cannabis Legislation Overview
201801.10
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Client Notes- Proposed Cannabis Legislation Overview

Federal Legislation The federal government has proposed cannabis legalisation entitled the Cannabis Act (Bill C-45) which would make it legal to produce, use and sell cannabis by July 2018. Once legalized, cannabis will be a controlled substance subject to rules regarding use and distribution. Implementation has, for the most part, been left to the provinces….

Going Public In The Cannabis Sector
201710.24
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Going Public In The Cannabis Sector

On October 19, 2017, the Canadian Securities Exchange (CSE) teamed up with Corporate Counsel and Davidson & Company LLP, Blender Media, PI Financial, Mackie Research and other great industry experts to help companies in the cannabis go public. Corporate Counsel discussed novel ways to get listed on the CSE. Presentation: Going Public in the Cannabis Sector…

201703.23
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Ways to Raise Capital Cost-Effectively – Financing Fundamentals for Micro Caps

On March 22, 2017, the Canadian Securities Exchange (CSE) teamed up with Corporate Counsel, OTC Markets, Echelon Wealth Partners and MNP to help issuers find some new ways to raise capital. Corporate Counsel discussed novel ways to raise capital including Rights Offerings, the Offering Memorandum Exemption and Warrant Incentive Programs. Presentation: Ways to Raise Capital Cost-Effectively…

201610.03
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Rights Offerings – Financing Fundamentals

On September 22, 2016, the Canadian Securities Exchange (CSE) teamed up with Corporate Counsel, Stockhouse and Capital Events to help issuers sharpen the tools in their financing toolkit for capital raising season. Corporate Counsel discussed novel ways to raise capital including Rights Offerings. Check out our presentation below. Click this link to download the presentation:

OSC Participation Fees May Be Decreasing For Some Issuers This Year – OSC 13-502 Amendments
201602.25
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OSC Participation Fees May Be Decreasing For Some Issuers This Year – OSC 13-502 Amendments

OSC Participation Fees Were Not Reflective of Current Market Cap On April 1, 2013 a revision to OSC Rule 13-502 came into effect which changed how OSC participation fees for reporting issuers were calculated. These changes included a concept called a “reference fiscal year” which was, in certain cases, deemed to be the participant’s last fiscal…