This is the second in a series of McMillan bulletins relating to the Canadian Securities Administrators project to modernize the regulation of publicly offered investment funds.
Selfless Generosity Still Exists
Senior executives of Canadian public companies often wonder to what extent information can be shared with major shareholders when the company is contemplating a potential transaction.
The Ontario Securities Commission has announced that it will be hosting a roundtable discussion on June 11 to obtain input from investors regarding investing in small and medium sized enterprises and start-ups.
Over the past few years, there has been a substantial increase in the amount of interaction between shareholders and boards of directors of North American companies.
In the first quarter of 2013, Liberal MP John McKay sponsored the first reading of Bill C-474 in Canada’s Parliament which, according to him, is meant to fight corruption, encourage transparency and promote increased accountability within mining corporations.
The Ontario Securities Commission and a veteran investment banker, Richard Moore, recently reached a settlement agreement regarding claims by the OSC of improper securities trading by Moore.
The Ontario Securities Commission recently closed the comment period on its Staff Consultation Paper 45-710: Considerations for New Capital Raising Prospectus Exemptions, which sought input from stakeholders on proposed amendments to the current legislation regarding prospectus exemptions.
Under the law of Quebec, article 2884 C.C.Q. prohibits the modification by contract of the prescriptive or limitations period provided by law.
Due to the remarkable rate of development in the Turkish markets over the past 30 years, investors that wish to share their risks, costs, responsibilities and liabilities prefer to form joint venture partnerships in relation to their investments in Turkey.
Capital Markets Board of Turkey announced new principles on IPOs, Rights Issues and Bonus Issues with a view to discipline the supply side of Turkish Capital Markets.
Confirmation of an extension to the deadline for classification of contractors and engineering consultancy offices in Abu Dhabi offices until late 2014.
Does this signal the beginning of the end of arbitration clauses in customer agreements?
Recently, in "In re Plains Exploration & Production Company Stockholder Litigation", the Delaware Court of Chancery denied the plaintiffs' request for a preliminary injunction.
The California Senate Judiciary Committee, reported Senate Bill No. 610 out of committee to the California Senate Floor.
An analysis of the terms of venture financings for 118 companies headquartered in Silicon Valley that reported raising money in the first quarter of 2013.
The Maryland legislature recently approved HB 1140, which will enact new provisions of the Corporations and Associations Article of the Annotated Code of Maryland to authorize the conversion of most types of Maryland business entities into other types of Maryland business entities or into business entities formed in other jurisdictions.
On May 10, 2013, the nonprofit tax bar was rocked by reports that Lois Lerner, director of the Internal Revenue Service’s Exempt Organizations Division apologized for the Service’s inappropriate flagging of conservative political groups for additional review during the 2012 election season.
The House of Representatives by a vote of 416-6 approved H.R. 701, a bipartisan bill that directs the SEC to finalize rules by Oct. 31 to implement Title IV of the JOBS Act.
On 22 April 2013, the Ministry of Trade and Industry issued Circular No. 08/2013/TT-BCT providing guidelines on the import, export, and distribution of goods by foreign-invested enterprises in Vietnam.