February 2013

February 2013

 

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Securities – The Futura Loyalty Group Inc. Decision pursuant to section 92 of The Securities Act, 1988

February 28, 2013 - Decision pursuant to section 92 of The Securities Act, 1988 that The Futura Loyalty Group Inc. is no longer a reporting issuer.

• Decision - February 28, 2013

 

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Securities – CSA Notice of Amendments to NI 41-101 and 44-101 and 44-102 and 81-101

February 28, 2013 -  The primary purpose of the Amendments and Related Changes is to address user experience and the CSA’s experience with the Prospectus Rules since the implementation of the general prospectus rule, NI 41-101, on March 17, 2008.  

 The Amendments and Related Changes are intended to:

 Clarify certain provisions of the Prospectus Rules;

• address gaps in the Prospectus Rules;
• modify certain requirements in the Prospectus Rules to enhance their effectiveness;
• remove or streamline certain requirements in the Prospectus Rules that are burdensome for issuers and of limited utility for security holders; and
• codify prospectus relief that has been granted in the past.

 

• CSA Notice of Amendments
• Appendix A - List of Commenters
• Appendix B - Summary of Comments and CSA Responses
• Appendix C - Schedule C-1 - Amendments to National Instrument 41-101 General Prospectus Requirements
• Appendix C - Schedule C-2 -Changes to Companion Policy 41-101CP to National Instrument 41-101 General Prospectus Requirements
• Appendix D - Schedule D-1 - National Instrument 41-101 General Prospectus Requirements
• Appendix D - Schedule D-2 - Form 41-101F1 Information Required in a Prospectus
• Appendix D - Schedule D-3 - Form 41-101F2 — Information Required in an Investment Fund Prospectus
• Appendix D - Schedule D-4 - Companion Policy to National Instrument 41-101 General Prospectus Requirements
• Appendix E - Schedule E-1 - Amendments to National Instrument 44-101 Short Form Prospectus Distributions
• Appendix E - Schedule E-2 - Changes to Companion Policy 44-101 CP to National Instrument 44-101 Short Form Prospectus Distributions
• Appendix F - Schedule F-1 - National Instrument 44-101 Short Form Prospectus Distributions
• Appendix F - Schedule F-2 - Form 44-101F1 Short Form Prospectus
• Appendix F - Schedule F-3 - Companion Policy 44-101CP to National Instrument 44-101 Short Form Prospectus Distributions
• Appendix G - Schedule G-1 - Amendments to National Instrument 44-102 Shelf Distributions
• Appendix G - Schedule G-2 - Change to Companion Policy 44-102 CP to National Instrument 44-102 Shelf Distributions
• Appendix H - Schedule H-1 - Amendments to National Instrument 81-101 Mutual Fund Prospectus Disclosure
• Appendix H - Schedule H-2 - Change to Companion Policy 81-101CP to National Instrument 81-101 Mutual Fund Prospectus Disclosure
• Appendix I - Schedule I-1 - National Instrument 81-101 — Mutual Fund Prospectus Disclosure
• Appendix I - Schedule I-2 - Form 81-101F2 — Contents of Annual Information Form
• Appendix I - Schedule I-3 - Companion Policy 81-101CP — To National Instrument 81-101 Mutual Fund Prospectus Disclosure
• Appendix J - Schedule J-1 - Amendments to National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards
• Appendix J - Schedule J-2 - Changes to Companion Policy 52-107CP Acceptable Accounting Principles and Auditing Standards
• Appendix K - Schedule K-1 - National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards
• Appendix K - Schedule K-2 - Companion Policy 52-107CP Acceptable Accounting Principles and Auditing Standards
• Appendix L - Amendments to National Instrument 51-102 Continuous Disclosure Obligations
• Appendix M - Amendments to National Instrument 13-101 System for Electronic Document Analysis and Retrieval (SEDAR)
• Appendix N - Authority for the Instrument

 

For more information contact:

Tony Herdzik, Deputy Director
Corporate Finance Division
Financial and Consumer Affairs Authority of Saskatchewan
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan  S4P 4H2
Phone:  (306) 787-5849
Fax:  (306) 787-5899
Email: tony.herdzik@gov.sk.ca

 

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Securities – CSA/IIROC Notice 23-315 Summary of Comments on CSA/IIROC Notice 23-312 Request For Comments – Transparency of Short Selling and Failed Trades

February 28, 2013 - CSA/IIROC Notice 23-315 - the Canadian Securities Administrators (CSA) and the Investment Industry Regularity Organization of Canada (IIROC) published for comment a joint notice (Joint Notice) on transparency of short selling and failed trades on March 2, 2012.  This notice summarizes the comments received on the Joint Notice and provides the CSA's and IIROC's response to those comments and an update on recent international developments.

• CSA/IIROC Notice 23-315
• Appendix A - Summary of Comments

 

For more information, please contact:

Dean Murrison, Director
Securities Division
Financial and Consumer Affairs Authority
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan  S4P 4H2
Phone:  (306) 787-5842
Fax:  (306) 787-5899
Email:  mailto:dean.murrison@gov.sk.ca

 

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Securities – The Great-West Life Assurance Company Decision pursuant to section 92 of The Securities Act, 1988

February 25, 2013 - Decision pursuant to section 92 of The Securities Act, 1988 that The Great-West Life Assurance Company is no longer a reporting issuer.

• Decision - February 25, 2013

 

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Securities – The Financial and Consumer Affairs Authority of Saskatchewan has issued a Temporary Order in the Matter of BC Commodity Traders et al

February 25, 2013 - The Financial and Consumer Affairs Authority of Saskatchewan has issued a Temporary Order in the Matter of BC Commodity Traders, Tony Jones, Todd Williams and Ron Nelson.

• Temporary Order - February 25, 2013

 

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Securities – Total Capital Canada Ltd. and Total Capital S.A. Decision pursuant to section 92 of The Securities Act, 1988

February 21, 2013 - Decision pursuant to section 92 of The Securities Act, 1988 that Total Capital Canada Ltd. and Total Capital S.A. is no longer a reporting issuer.

• Decision - February 21, 2013

 

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Canadian Securities Regulators' Enforcement Report Highlights Fraud

February 21, 2013 - The Canadian Securities Administrators (CSA) today released its fifth annual Enforcement Report that outlines how securities regulators are actively working to protect investors and the integrity of Canada’s capital markets. As securities fraud can cause tremendous harm to investors and Canada’s capital markets, this year’s report highlights the CSA’s fraud enforcement efforts.

“CSA members work hard to combat securities fraud and we place particular emphasis in our enforcement work on the violations that constitute fraud,” said Bill Rice, CSA Chair and CEO and Chair of the Alberta Securities Commission. “In addition to these efforts, CSA members stress that education is a valuable tool in deterring investors from becoming victims of fraud and others types of securities laws violations.”

The CSA’s 2012 Enforcement Report brings into focus the enforcement work done by CSA members against those who commit wrongdoing in Canada’s capital markets. CSA members concluded cases against 322 individuals and companies. Concluded securities fraud cases involved 66 individuals and companies.  

Key highlights of the 2012 Enforcement Report:

• 10 (seven per cent) of the concluded cases were in the fraud category and involved 33 individuals and 33 companies.
• 135 concluded cases involved a total of 206 individuals and 116 companies that resulted in:
  • Fines and administrative penalties of almost $37 million.
  • More than $120 million in restitution, compensation and disgorgement.
  • Jail sentences against seven individuals.
• Concluded matters against 185 respondents following a contested hearing, 74 respondents by settlement agreement and 63 respondents by court decision.
• 145 matters commenced against a total of 242 individuals and 146 companies.
• 56 interim orders and asset freeze orders were issued against 87 individuals and 
  77 companies.

For the second year, the CSA’s Enforcement Report is available in HTML format, which allows users to navigate specific sections of the report quickly and easily. The report comes out in advance of Fraud Prevention Month in March, which highlights tools and resources Canadians can use to recognize and avoid investment fraud, and lets them know they can turn to securities regulators for help.  The CSA will continue to use its Twitter account to share information about the CSA and its programs, beginning with key sections of the enforcement report. People interested in investor protection or education news and programs are encouraged to follow the CSA on Twitter (@CSA_News).

The 2012 Enforcement Report is now accessible from the CSA website www.securities-administrators.ca and from the websites of various CSA members.

The CSA, the council of securities regulators of Canada’s provinces and territories, 
co-ordinates and harmonizes regulation for the Canadian capital markets.

• 2012 Enforcement Report

 

For more information, please contact:

Dean Murrison, Director
Securities Division
Financial and Consumer Affairs Authority
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan  S4P 4H2
Phone:  (306) 787-5842
Fax:  (306) 787-5899
Email:  dean.murrison@gov.sk.ca

 

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Securities – CSA Staff Notice 43-308 (Revised) Professional Associations under NI 43-101 Standards of Disclosure for Mineral Projects

February 21, 2013 - This Notice confirms staff's view that certain professional organizations meet the tests set out in National Instrument 43-101 Standards of Disclosure for Mineral Projects for professional associations and membership designations.

• CSA Staff Notice 43-308 (Revised)

 

For more information contact:

Tony Herdzik, Deputy Director
Corporate Finance Division
Financial and Consumer Affairs Authority of Saskatchewan
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan  S4P 4H2
Phone:  (306) 787-5849
Fax:  (306) 787-5899
Email: tony.herdzik@gov.sk.ca

 

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Securities – Spartan Oil Corp. Decision pursuant to section 92 of The Securities Act, 1988

February 19, 2013 - Decision pursuant to section 92 of The Securities Act, 1988 that Spartan Oil Corp. is no longer a reporting issuer.

• Decision - February 19, 2013

 

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Securities – Western Financial Group Inc. Decision pursuant to section 92 of The Securities Act, 1988

February 19, 2013 - Decision pursuant to section 92 of The Securities Act, 1988 that Western Financial Group Inc. is no longer a reporting issuer.

• Decision - February 19, 2013

 

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Securities – Extending Order In the Matter of I.W.F. Incorporated et al

February 14, 2013 - The Financial and Consumer Affairs Authority issued an Extending Order in the Matter of I.W.F Incorporated also known as I.W.F Inc., Keystone Explorations, Horizon Explorations, Jack Shore.

 

• Extending Order - February 14, 2013

 

For more information, please contact:

Sonne Udemgba, Deputy Director, Legal
Securities Division
Financial and Consumer Affairs Authority
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan  S4P 4H2
Phone:  (306) 787-5879
Fax:  (306) 787-5899
Email:  sonne.udemgba@gov.sk.ca

 

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Securities – CSA Staff Notice 31-333 - Follow-up to Broker-Dealer Registration in the Exempt Market Dealer Categroy

February 7, 2013 - CSA Staff Notice 31-333 - The purpose of this notice is to inform FINRA firms currently conducting brokerage activities while registered in the EMD category or in the restricted dealer category that the Investment Industry Regulatory Organization of Canada (IIROC) does not intend to proceed with the Restricted Dealer Member Proposal, as detailed in IIROC Notice 13-0042 dated February 7, 2013 (the IIROC Notice). In the future, firms will need to conduct all brokerage activities through a full IIROC member firm.

• CSA Staff Notice 31-333

 

For more information, please contact:

Dean Murrison, Director
Securities Division
Financial and Consumer Affairs Authority
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan  S4P 4H2
Phone:  (306) 787-5842
Fax:  (306) 787-5899
Email:  dean.murrison@gov.sk.ca

 

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Securities – The Financial and Consumer Affairs Authority (FCAA) Notice of Adjournment in the Matter of C2 Ventures and Monte Dobson

February 11, 2013 - Notice of Adjournment in the Matter of C2 Ventures Inc. and Monte Dobson.  This matter has been adjourned by consent to may 10, 2013 at 9:00am (CST) and continuing thereafter until otherwise ordered.

• FCAA Notice of Adjournment - February 11, 2013

 

For more information contact:

Ola Ben-Ajayi, Legal Counsel
Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan  S4P 4H2
Phone:  (306) 798-3381
Fax:  (306) 787-5899
Email: ola.ben-ajayi@gov.sk.ca

 

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Securities – The Financial and Consumer Affairs Authority (FCAA) Notice of Adjournment in the Matter of Gregory Todd Whiteside and Meagan Whiteside

February 11, 2013 - Notice of Adjournment in the Matter of Gregory Todd Whiteside and Meagan Whiteside.  This Matter has been adjourned by consent to May 8, 2013 at 9:00am (CST) and continuing thereafter until ordered otherwise.

• Notice of Adjournment - February 11, 2013

 

For more information contact:

Ola Ben-Ajayi, Legal Counsel
Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan  S4P 4H2
Phone:  (306) 798-3381
Fax:  (306) 787-5899
Email: ola.ben-ajayi@gov.sk.ca

 

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Securities – CSA Staff Notice 11-321 - Business Continuity Planning - Industry Testing Exercise

February 7, 2013 - CSA Staff Notice 11-321 - Business continuity is an ongoing priority for securities industry participants and regulatory authorities. Various events over the past few years, such as flu outbreaks, natural disasters, black-outs and marketplace system problems heightened that priority by highlighting the risk of operational disruptions to the financial system.

• CSA Staff Notice 11-321

 

For more information, please contact:

Curtis Brezinski, Compliance Auditor
Securities Division
Financial and Consumer Affairs Authority
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan  S4P 4H2
Phone:  (306) 787-5876
Fax:  (306) 787-5899
Email:  curtis.brezinski@gov.sk.ca

 

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Securities – AUX Canada Acquisition 3 S.a r.l. Decision pursuant to section 92 of The Securities Act, 1988

February 1, 2013 - Decision pursuant to section 92 of The Securities Act, 1988 that AUX Canada Acquisition 3 S.a r.l. is no longer a reporting issuer.

• Decision - February 1, 2013