In this Edition - How the Ontario Securities Commission (OSC) is improving access to capital for early-stage businesses...more
On May 9, 2024, the Ontario Securities Commission (“OSC”) announced three new exemptions designed to support capital raising for early-stage businesses in Ontario through the OSC TestLab program. The initiatives include the...more
Le 21 mars 2024, la Commission des valeurs mobilières de l’Ontario (la « CVMO ») et l’Autorité des marchés financiers (l’« AMF ») ont publié l’Avis multilatéral 81-337 du personnel des ACVM (l’« Avis »), dans lequel elles...more
On March 21, 2024, the Ontario Securities Commission (OSC) and the Autorité des marchés financiers (AMF) published CSA Multilateral Staff Notice 81-337 outlining the results of their continuous disclosure review related to...more
The Ontario Securities Commission (“OSC”) recently published its proposed Statement of Priorities for 2024-2025 (the “Statement”), outlining the initiatives on which the OSC intends to focus its resources and actions over the...more
The Ontario Securities Commission (“OSC”) recently made proposed OSC Rule 33-509 Exemption from Underwriting Conflicts Disclosure Requirements (the “Rule”) to provide a permanent exemption in Ontario from the underwriting...more
The Ontario Securities Commission (“OSC”) recently announced proposed OSC Rule 52-503 Exemption from Disclosure of a Specified Financial Measure (the “Rule”). If approved by the Minister of Finance (the “Minister”), the Rule...more
On April 20, 2023, the Toronto Stock Exchange (the “TSX”) adopted, and the OSC provided its notice of approval for, certain amendments (the “Amendments”) to more clearly define the factors that the TSX will now consider when...more
The Ontario Securities Commission (OSC) recently announced that it has entered into a Memorandum of Understanding (MOU) with the Financial Supervisory Commission (FSC) of Taiwan. The MOU provides for the cooperation and...more
The Ontario Securities Commission (OSC) recently announced that it has entered into a Memorandum of Understanding (MOU) with the New York State Department of Financial Services (NYSDFS) to facilitate cooperation and the...more
In November 2022, the Ontario Securities Commission (OSC) released a report outlining its findings on the effects on investor behaviour of “gamification” and other behavioural techniques employed by digital investment...more
Davies has submitted a comprehensive comment letter on a new Capital Markets Act (CMA) proposed by the Ontario Ministry of Finance, on the recommendation of the Capital Markets Modernization Taskforce, to replace the Ontario...more
On January 13, 2022, the Ontario Securities Commission (OSC) announced that it and Quebec’s Autorité des marchés financiers (AMF) have entered into an amended Memorandum of Understanding (MOU) with the European Securities and...more
The Ontario Securities Commission (OSC) recently announced Ministerial approval of a Memorandum of Understanding (MOU) between the OSC, Quebec’s Autorité des marchés financiers (AMF), the British Columbia Securities...more
An increase in the volume and complexity of filings with the Ontario Securities Commission (OSC) has resulted in the temporary extension of review timelines for certain offering documents, compliance reviews, applications and...more
The Ontario Securities Commission (“OSC”), Canada’s largest securities regulator, has proposed establishing its own whistleblower program for individuals to report suspected securities fraud, marking Canada’s first foray into...more
It will be of significant interest to US corporations that make securities filings with the Ontario Securities Commissions (“OSC”), that on February 3, 2015, the OSC published “Staff Consultation Paper 15-401”, which sets out...more
OSC Publishes Results of Review on REIT Distribution Disclosure; Excess Distributions, Non-IFRS Metrics Among Key OSC Concerns - On January 26, 2015, the Ontario Securities Commission published OSC Staff Notice 51-724...more