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Farris, Vaughan, Wills & Murphy LLP
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Tel: +1 604 6849151
Fax: +1 604 6619349
PO Box 10026, Pacific Centre South
25th Floor, 700 W Georgia St
British Columbia
V7Y 1B3
Canada is a federation comprised of ten provinces and three territories. Legal authority is divided between the federal and provincial or territorial governments, although jurisdiction overlaps in some areas.
By Albert Hudec
This client alert discusses current ‘at market’ deal terms for 2009 vintage private equity funds. In today’s difficult economy, pension funds and fund managers are focusing on different issues than in past years. We expect an evolution in key limited partnership deal terms in response to current market conditions.
British Columbia has a common law legal system and is regulated by: provincial statutes that apply exclusively within the province; and federal statutes that apply across Canada.
By Trevor Scott
On December 19, 2008, the Toronto Stock Exchange began permitting Special Purpose Acquisition Companies, commonly known as SPACs.
By Trevor Scott
On September 18, 2008, the Canadian securities regulators announced a new format for executive compensation disclosure.
By Albert Hudec
The TSX has proposed rule changes to permit US-style SPAC listings in Canada. A SPAC is a ‘special purpose acquisition corporation’ formed to raise a minimum of $30 million to pursue an ‘as yet to be identified’ acquisition opportunity.
By Trevor Scott
The Canadian securities regulators are adopting additional requirements for internal control over financial reporting, which will expand the current CEO and CFO certificates and require additional disclosure in MD&A. Accompanying these new requirements is extensive guidance on how disclosure and internal controls should be designed and evaluated.
By Trevor Scott
On July 8, 2008, new laws came into force in British Columbia that give investors the right to sue public companies, their directors and officers, and certain others when there is misleading information in a publicly disclosed document or a public oral statement, or when there is a failure to make timely disclosure of material changes in the affairs of a company.
By Trevor Scott
The Canadian securities regulators have adopted new rules and guidance for prospectus offerings that harmonize and consolidate existing requirements across Canada, but also introduce new requirements that will affect dealers. The new rules and guidance came into force on March 17, 2008
By Trevor Scott, Peter Roth
On February 22, 2008, the Canadian securities regulators proposed a new format for executive compensation disclosure. This new format is anticipated to apply to the 2009 proxy season. The new format will not only significantly impact executive compensation disclosure, but also the internal process by which companies make compensation decisions.
By Albert Hudec
April kicks off loan review and renewal season. Across the country, bank loan officers are reviewing year-end financial statements and assessing corporate prospects. This process is likely to result in a further tightening of lending standards and widening of credit spreads.
As businesses in BC strive to compete in today’s global economy, the work demands facing employees are growing. Many industries no longer adhere to a “traditional” 9:00 A.M. – 5:00 P.M. work day.
By Trevor Scott, Brooke Harley
On December 31, 2007, the Canadian Securities Administrators amended the instrument governing the continuous disclosure obligations of public companies (National Instrument 51-102) to create new disclosure requirements for forward looking information and financial forecasts. Related new requirements were also created for MD&A.
By Trevor Scott, Malcolm MacPherson
British Columbia has a common law legal system and is regulated by: Provincial statutes that apply exclusively within the province and Federal statutes that apply across Canada.
By Judith Macfarlane
The British Columbia Human Rights Code (the "Code") currently prohibits age discrimination against those aged 19 – 64. Therefore, it has not been discriminatory under that legislation to deny employment because a person is 65 or older. However, a planned change to the definition of "age" in the Code will change that.