Latest updates

New TSX Listing and Other Fees
  • Canada
  • 10 February 2004

The Toronto Stock Exchange has implemented new fees for listing and other applications filed on or after January 1 2004, which could in some circumstances lead to significantly higher listing fees. Initial, additional and supplemental listing fees are now composed of a base charge and a variable fee that is assessed on the listing capitalization of the securities, subject to a maximum fee.

Rules Demand More from CEOs, CFOs and Audit Committees
  • Canada
  • 18 November 2003

If three draft rules of Canada's securities regulators are adopted, most public issuers in Canada will have to provide CEO and CFO certifications and comply with audit committee rules that are substantially similar to comparable provisions of the US Sarbanes-Oxley Act.

Exemptions from Canadian Continuous Disclosure for Non-Canadian Issuers
  • Canada
  • 18 November 2003

Canadian securities regulators recently republished for comment proposed National Instrument 71-102, entitled "Continuous Disclosure and Other Exemptions Relating to Foreign Issuers". This rule will exempt many non-Canadian issuers from various continuous disclosure obligations set out in proposed National Instrument 51-102 as well as certain other securities law requirements.

Cross-Border Issuers to be Allowed to File US GAAP Financial Statements
  • Canada
  • 18 November 2003

Securities regulators have indicated that they will grant exemptions on a case-by-case basis to permit issuers to use US GAAP/GAAS financial statements for fiscal years beginning on or after January 1 2003. Currently, many Canadian corporate statutes still require that Canadian GAAP/GAAS financial statements be presented to shareholders.

Continuous Disclosure: Earlier Filing and Additional Disclosure Proposed
  • Canada
  • 18 November 2003

Canadian securities regulators recently republished for comment proposed National Instrument 51-102, entitled "Continuous Disclosure Obligations". This rule will establish a uniform set of continuous disclosure requirements across the country and harmonize the Canadian rules with those of the United States.

Stephen P Robertson
Borden Ladner Gervais LLP
  • Vancouver BC
  • Canada
Jonathan Poirier
Borden Ladner Gervais LLP
  • Calgary AB
  • Canada
Fasken
Fasken