Jan. 26, 2024 - Important guidance on “acting jointly or in concert” in a proxy contest was provided by the British Columbia Securities Commission (Commission) in NorthWest Copper Corp. (December 22, 2023). The Commission declined to find a joint actor relationship between a dissident and another...
Is Canada’s Plan for a Single Securities Regulator on the Ropes? – Lexpert
In a Lexpert article examining whether the Canadian government is still moving ahead with the formation of a cooperative capital markets regulator, Davies partner Patricia Olasker expresses concerns about the decision to import into the proposed legislation British Columbia’s approach to extra-territoriality and to address unintended negative consequences through exceptions. “The problem is [that] it is impossible to foresee and properly address all of these consequences,” says Olasker. Speaking of the controversial decision to model the Capital Markets Act on BC legislation, she adds, “[T]hat train has probably left the station. Still, it’s possible to decouple the cars most likely to produce a train wreck, including those marked ‘extra-territorial reach.’”
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Dec. 15, 2023 - In a positive development since our earlier bulletin, the U.S. House and Senate have decided to retain the exemptions from obligations imposed under section 16 of the Securities Exchange Act of 1934 that are relied upon by insiders of dual-listed Canadian public companies and other...