Improving your continuous disclosure

Recently, the Canadian Securities Administrators (the “CSA”) released the results of their Continuous Disclosure Review Program Activities for the Fiscal Year that ended March 31, 2016[1]. The goal of the program is to improve the completeness, …

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Electronic Travel Authorizations required for travel by air to Canada as of September 29, 2016

Visa-exempt business travellers, workers, students, and tourists from countries other than the United States will require an Electronic Travel Authorization (eTA) to fly or transit through Canada by air as of September 29, 2016. The leniency period which allows travel …

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Top 5 facts about B.C.’s new property transfer tax on foreign buyers

House

On July 25, 2016, the B.C. government announced that it is implementing a new property transfer tax applicable to foreign buyers of residential properties. Here are the top 5 things you need to know about the new tax:

  1. What properties
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Do I need a shareholders’ agreement?

A shareholders’ agreement is strongly recommended for privately held companies where there is more than one shareholder. The following sets out certain issues to consider when determining whether a shareholders’ agreement is needed. The issues set out below are in no …

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SEC adopts rules for resource extraction issuers

The Securities and Exchange Commission (the “Commission”) recently announced it adopted final rules to require resource extraction issuers to disclose payments made to governments for the commercial development of oil, natural gas or minerals.

The rules require an …

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SEC adopts amendments to implement changes for Exchange Act registration requirements

Recently, the Securities and Exchange Commission (“SEC”) adopted final rules regarding the thresholds for registration, termination of registration and suspension of reporting under Section 12(g) of the Securities Exchange Act of 1934, as amended (“Exchange Act”).…

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Court declines to intervene on director’s suspension by board when in society’s best interests

The BC Supreme Court has clarified when a suspension of a society’s director is not a removal, and provided an example of when director discipline may occur without the court’s intervention under the provisions of the Society Act, R.S.B.C …

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New take-over bid regime

The Canadian Securities Administrators (the CSA) recently adopted amendments to the take-over bid regime (the Bid Amendments). Except in Ontario, provided all necessary approvals are obtained, the Bid Amendments and Early Warning Amendments will come into force on …

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New report of exempt distribution aims to reduce the compliance burden for issuers

The Canadian Securities Administrators (CSA) recently adopted a new harmonized report of exempt distribution (the New Report). Issuers that rely on certain prospectus exemptions to distribute securities are required to file a report of exempt distribution within …

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Non-status Indians and Métis now federal persons: Duty to consult and accommodate may arise on rights assertion

Métis and non-status Indians are now under federal jurisdiction and may assert Aboriginal rights. This was confirmed by the Supreme Court of Canada in Daniels v. Canada (Indian Affairs and Northern Development), 2016 SCC 12, released April 14, …

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