The last quarter of 2014 saw a number of regulatory developments in Canadian capital markets that may specifically affect companies in the oil and gas industry. Below, we’ve compiled a list of key legal developments since October 21, 2014 that may be of particular interest, along with corresponding links to our securities blog.
- The OSC approves rules (expected to be effective in February) allowing TSX and TSXV companies to raise capital from existing holders without a prospectus in certain circumstances.
- Canadian securities regulators propose sweeping amendments to the rights offering rules – including eliminating the requirement for prior regulatory clearance of the circular and increasing permitted dilution from 25% to 100%.
- IIROC releases a comprehensive overview of best practices and recommendations regarding the underwriter diligence processes.
- The ASC exempts certain foreign issuers conducting private placements in Alberta from becoming reporting issuers under Alberta law.
- TSX Private Markets begins operation.