Canada's Consumer-Driven Banking Act (CDBA) has become law. It was enacted on June 20, 2024, when Bill C-69, the Budget Implementation Act, 2024 received royal assent....more
The Securities and Exchange Commission (the SEC) adopted new and somewhat controversial rules and rule amendments (the Final Rules) under the U.S. Investment Advisers Act of 1940 (the Act) in the fall of 2023 that impact the...more
The latest edition of Davies’ Governance Insights is now available. In this issue, we explore 10 important trends that will help general counsel and boards navigate the year ahead. In order to help you with your strategic...more
The Securities and Exchange Commission (“SEC”) adopted new rules requiring the disclosure of cybersecurity risk management, strategy, governance and material incidents (the “Rules”), effective September 5, 2023. The Rules...more
As many of our readers will have heard, the Canadian Securities Administrators (“CSA”) has announced the adoption of a new prospectus exemption for certain reporting issuers listed on a Canadian stock exchange (the...more
As cryptocurrencies and blockchain assets become more popular and begin to permeate into the wider financial markets, regulators have struggled to understand how they work and how to treat them under existing legal...more
The ICO boom in 2017 brings with it questions of jurisdiction and compliance, and a need for further guidance - The benefits of ICOs in raising capital, as well as in providing a marketing push for a new business model,...more
The list of jurisdictions that are silent on the question of whether blockchain tokens may be securities has grown smaller. Less than a month after the U.S. Securities and Exchange Commission (SEC) and the Monetary...more
Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more
Canadian Capital Markets - As changes in the regulatory regime open up significant opportunities in the cannabis sector, industry players will be seeking access to capital to fund growth, and investors will be looking...more
In the United States, the Securities Exchange Commission (SEC) has taken an active role in regulating cybersecurity issues. Canadian issuers should be aware that the risk of regulatory enforcement may be coming to Canada....more
In December 2015, the Canadian Securities Administrators (CSA) announced an amended regime for a prospectus-exempt rights offering in Canada. This amended regime allows certain public companies in Canada to conduct a...more