July 2012

Securities Division

Suite 601, 1919 Saskatchewan Drive

Regina, Saskatchewan S4P 4H2

Tel: (306)787-5645

Fax: (306)787-5899

Email: fcaa@gov.sk.ca

July 2012

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Securities – CSA Staff Notice 12-307 Applications for a Decision that an Issuer is not a Reporting Issuer

July 26, 2012 – The Canadian Securities Administrators (CSA) today published Staff Notice 12-307 Applications for a Decision that an Issuer is not a Reporting Issuer, which provides information and guidance on coordinated review applications that may be made under National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions for a decision that an issuer is not a reporting issuer. Among other things, this Notice covers:

how an issuer can apply for a decision under a simplified procedure if it meets certain conditions,
how an issuer can apply for a decision if it is not eligible to use the simplified procedure,
how an issuer can describe the decision it wants in a way that addresses legislative differences between jurisdictions,
how a foreign issuer with a small security holder presence in Canada can apply for a decision, and
the procedure for dissolved issuers.

CSA Staff Notice 12-307 Effective Date: July 26, 2012
Schedule 1 - Examples of an Application Letter and Decusion Document under the Simplified Procedure

For more information:

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

Securities – NWQ U.S. Large Cap Value Fund Decision pursuant to section 92 of The Securities Act, 1988

July 25, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that NWQ U.S. Large Cap Value Fund is no longer a reporting issuer.

Decision - July 25, 2012

Securities – Cryptologic Exchange Corporation Decision pursuant to section 92 of The Securities Act, 1988

July 25, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that Cryptologic Exchange Corporation is no longer a reporting issuer.

Decision - July 25, 2012

Securities – Manulife Financial Capital Trust Decision pursuant to section 92 of The Securities Act, 1988

July 24, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that Manulife Financial Capital Trust is no longer a reporting issuer.

Decision - July 24, 2012

Securities − Notice of Application to Extend a Temporary Order in the Matter of I.W.F Incorporated, also known as I.W.F. Inc., Keystone Explorations, Horizon Explorations, Jack Shore

July 23, 2012 − The Saskatchewan Financial Services Commission (the Commission) will hear an application filed by Staff of the Commission via teleconference on Friday, August 19, 2012 at 9:00 a.m.

Notice of Application to Extend a Temporary Order - July 23, 2012

For more information, contact:

Sonne Udemgba, Acting Deputy Director, Legal
Securities Division
Saskatchewan Financial Services Commission
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan S4P 4H2
Phone: (306) 788-3381
Fax: (306) 787-5879
Email: sonne.udemgba@gov.sk.ca

Securities – CSA Staff Notice 51-337 Continuous Disclosure Review Program Activities for the fiscal year ended March 31, 2012

July 19, 2012 – The Canadian Securities Administrators (CSA) today published Staff Notice 51-337Continuous Disclosure Review Program Activities for the fiscal year ended March 31, 2012, which summarizes the results of the CSA’s continuous disclosure (CD) review program.

The Notice includes detailed examples of common deficiencies the CSA identified during its review of financial statements, Management’s Discussion and Analysis (MD&A) and other regulatory disclosures, and provides reporting issuers with practical guidance and suggestions for improving their disclosure.

“Continuous disclosure is paramount to an efficient Canadian capital market, and ensuring information is timely, reliable and relevant is fundamental for maintaining investor confidence,” said Bill Rice, Chair of the CSA and Chair and CEO of the Alberta Securities Commission.

CSA members completed 1,248 CD reviews in fiscal 2012, compared to 1,351 in fiscal 2011. The number of full reviews (453) conducted in fiscal 2012 increased by four per cent from the previous year, while the number of issue-oriented reviews (795) decreased by 13 per cent. The decrease was the result of the CSA concentrating its resources on conducting full reviews and focusing on International Financial Reporting Standards (IFRS) issue-oriented reviews that were more complex and comprehensive than those completed in fiscal 2011.

The results of this year’s reviews are as follows:

Two per cent of issuers were cease-traded, placed on a default list or referred to Enforcement;

Nine per cent of the reviews resulted in reporting issuers being alerted to specific areas where disclosure enhancements should be considered, as part of the CSA’s effort to educate issuers;
17 per cent of the reviews resulted in reporting issuers being required to amend or re-file certain CD documents;
28 per cent of the reviews resulted in “prospective changes”, requiring reporting issuers to make enhancements to their disclosure in future filings; and
44 per cent of issuers were not required to make any changes or additional filings.

Excluding investment funds and issuers that have been cease-traded, there are approximately 4,200 active reporting issuers in Canada. These issuers are subject to regular full and issue-oriented reviews as part of the ongoing CSA CD review program.

CSA Staff Notice 51-337 is available on various CSA members’ websites.

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

For more information:

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

Securities – Return on Innovation Management Ltd. et al approval pursuant to section 44(3) of The Securities Act, 1988

July 17, 2012 - Permission requested granted to Return on Innovation Management Ltd. et alpursuant to section 44(3) of The Securities Act, 1988.

Approval Letter - July 17, 2012

Securities – Statement of Allegations of Staff of the Saskatchewan Financial Services Commission (SFSC) in the Matter of Jospeh Scott Banbury

July 12, 2012 - Statement of Allegations of Staff of the Saskatchewan Financial Services Commission in the Matter of Jospeh Scott Banbury.

Statement of Allegations of Staff - July 12, 2012

For more information, please contact:

Securities – CSA Staff Notice 31-331 Follow-up to Broker-Dealer Registration in the Exempt Market Dealer Category

July 12 2012 – On September 2, 2011, Canadian Securities Administrators published CSA Staff Notice 31-327 Broker-Dealer Registration in the Exempt Market Dealer Category. This notice is a follow-up to the CSA Staff Notice 31-327.

The purpose of this notice is to introduce an Investment Industry Regulatory Organization of Canada Concept Paper published as IIROC Notice 12-0217.

CSA Staff Notice 31-331
IIROC Notice 12-0217 Published for Comment: July 12, 2012. Comments due within 90 days of the date of this notice

For more information:

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

Securities – Sprott Asset Management LP approval of notice pursuant to NI 31-103

July 11, 2012 - The Saskatchewan Financial Services Commission (SFSC) approval letter issued to Sprott Asset Management LP pursuant to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) on the same terms and conditions as The Ontario Securities Commission.

Approval Letter - July 11, 2012

Securities – 2930862 Canada Inc. Decision pursuant to section 92 of The Securities Act, 1988

July 12, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that 2930862 Canada Inc. is no longer a reporting issuer.

Decision - July 12, 2012

Securities – US Gold Canadian Acquisition Corporation Decision pursuant to section 92 of The Securities Act, 1988

July 5, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that US Gold Canadian Acquisition Corporation is no longer a reporting issuer.

Decision - July 5, 2012

Securities – Notice of Call to Schedule Hearing dates In the Matter of Landbankers International MX, S.A. De C.V. et al

June 26, 2012 – The Saskatchewan Financial Services Commission (SFSC) has issued a Notice of Call to Schedule Hearing Dates In The Matter of Landbankers International MX, S.A. De C.V., Kelly Friesen and Sonja McAdam.

Notice of Call to Schedule Hearing Dates - June 26, 2012

For more information, please contact:

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

Securities – The Securities Commission (Adoption of National Instruments) Amendment Regulations, 2012 (No. 3) come into force

The Securities Commission (Adoption of National Instruments) Amendment Regulations, 2012 (No. 3) came into force on June 22, 2012. The regulations amend National Instrument 81-101 Mutual Fund Prospectus Disclosure, National Instrument 81-102 Mutual Funds, National Instrument 81-106 Investment Fund Continuous Disclosure, and National Instrument 41-101 General Prospectus Requirements.

Commission Regulation 2012 (No.3)

For more information contact:

Securities Division

Suite 601, 1919 Saskatchewan Drive

Regina, Saskatchewan S4P 4H2

Tel: (306)787-5645

Fax: (306)787-5899

Email: fcaa@gov.sk.ca