In a recent post about Canadian proxy contest trends, we discussed the growing concern with “The Active Passive investor” and potential issues on the horizon given a surge in the use of “withhold” campaigns. As of late, the prominence of
Special Situations Law
The latest developments in Special Situations Law in Canada
The Special Situations Law blog, published by Norton Rose Fulbright, focuses on complex legal issues arising in corporate governance, shareholder activism, mergers and acquisitions, and restructuring. It covers topics such as board nomination rights, shareholder proposals, regulatory developments affecting corporate decision-making, and the interplay between legal standards and shareholder democracy. The blog also addresses procedural aspects of shareholder meetings, fiduciary duties of directors, and the impact of economic and political factors on corporate strategies. It provides analysis of litigation trends, regulatory guidance, and practical considerations for managing shareholder relations and corporate governance challenges.
Latest from Special Situations Law - Page 7
“The Great White Short?” Canada Is the World’s #3 Destination for Activist Short Selling
By Trevor Zeyl
Recently, Activist Insight released a report on activist short selling. Activist short selling is when investors publicly bet on a stock going down in value. Among other interesting trends, the report shows that Canada ranks number 3 in the world…
Tracking the Rise of Shareholder Activism in Asia
Shareholder activism has steadily been on the rise in Asia in the past seven years, but is it here to stay?
According to a recent report published by J.P. Morgan in May 2018, the numbers seem to support this proposition.…
Changes coming to Canadian Business Corporations Act (CBCA)
Bill C-25 received Royal Assent on May 1, 2018. The bill will amend the CBCA by: reforming certain aspects of director elections; creating requirements for public companies to disclose officer and director diversity representation; and introducing the new Notice-and-Access Regime.…
The Gender Question: BC Securities Commission asks for comment on disclosure requirements with respect to board gender diversity
In late 2014, the Canadian Securities Administrators (CSA) published “comply or explain” rules regarding female representation in director and executive officer positions. The requirements were codified in National Instrument 58-101 (the Disclosure Requirements) and created a positive duty for issuers…
TSX Adds New Website Disclosure Requirements
In October 2017, the TSX published updates under section 473 of the TSX Company Manual placing additional disclosure obligation requirements on non-exempted TSX-listed issuers.
These updates became effective on April 1, 2018.
The TSX’s updates mandate that each TSX-listed issuer…
Corporate Governance in the Cannabis Sector
Since the introduction of Bill C-45 to legalize the production, distribution and sale of cannabis for recreational use, the cannabis sector (the Sector) has been thriving. Despite many unknowns and uncertainties surrounding the Sector, investors appear unfazed as share prices…
Best Practices for Board Oversight and Disclosure of Environmental and Social Issues
In a recent post, we discussed investors’ growing interest in environmental and social (E&S) governance. As a recent report published by the Canadian Coalition for Good Governance (CCGG) demonstrates, public company boards are no less attentive to growing shareholder…
Activist Shareholders Trading on the Blockchain: Is the Prized Secrecy Compromised?
Background: Registered Shareholders and Beneficial Shareholders
While a registered shareholder holds its shares directly with a company and can be contacted through its transfer agent, a beneficial shareholder does not have the shares registered in its name. Instead, a securities…
Canadian Securities Administrators are seeking comments on soliciting dealer arrangements
By Trevor Zeyl
The Canadian Securities Administrators (the “CSA”) have issued CSA Staff Notice 61-303 and Request for Comment – Soliciting Dealer Arrangements (the “Notice”) on the use of soliciting dealer arrangements. “Soliciting dealer arrangements” generally refer to agreements entered into between issuers…