November 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
November 2012
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Securities – Canadian Securities Regulators Adopt Amendments To Improve Issuer Communications with Investors
November 29, 2012 - The Canadian Securities Administrators (CSA) announced today the adoption of amendments to National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer and National Instrument 51-102 Continuous Disclosure Obligations, which intend to improve communications between reporting issuers and their shareholders in the proxy voting process.
Specifically, the amendments are designed to improve procedures for reporting issuer communications with investors who hold securities through intermediaries such as dealers, trust companies and banks.
The most significant features of the adopted amendments include:
Providing reporting issuers with a new notice-and-access mechanism to send proxy-related materials to registered holders and beneficial owners of securities;
Requiring reporting issuers to provide enhanced disclosure regarding the beneficial owner voting process; and,
Simplifying the process by which beneficial owners are appointed as proxy holders in order to attend and vote at shareholder meetings.
“These amendments will modernize and enhance communication between reporting issuers and their shareholders by allowing greater use of the Internet for delivering proxy-related materials,” said Bill Rice, Chair of the CSA and chairman and chief executive of the Alberta Securities Commission. “The amendments aim to increase the efficiencies of the proxy voting process by reducing the volume of documents sent to shareholders.”
The amendments and related materials can be found on CSA members’ websites. In some jurisdictions, ministerial approvals are required to implement the amendments. If all such approvals are obtained, the amendments will take effect on February 11, 2013. However, reporting issuers will only be permitted to use notice-and-access for meetings taking place on or after March 1, 2013.
The CSA, the council of the securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.
- CSA Notice of Amendments to National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer and Companion Policy 54-101CP Communication with Beneficial
Owners of Securities of a Reporting Issuer and Amendments to National Instrument 51-102 Continuous Disclosure Obligations and Companion Policy 51-102CP Continuous Disclosure Obligations - Annex A - Summary of Comments and Responses on Notice and Request for Comment
- Annex B - Amendments to National Instrument 54-10 - Communication With Beneficial Owners of Securities of a Reporting Issuer
- Annex B Blackline - Blackline of Final Amendment Instrument to National Instrument 51-102
- Annex C - Amendments to National Instrument 51-102 - Continuous Disclosure Obligations
- Annex C Blackline - Blackline of Final Amendment Instrument to National Instrument 54-101
- Annex D - Changes to Companion Policy 54-101CP to National Instrumnet 54-101
- Annex E - Changes to Companion Policy 51-102CP
- Annex F - Authority For the Instrument
For more information contact:
Dean Murrison, Director
Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan S4P 4H2
Phone: (306) 787-5842
Fax: (306) 787-5899
Email: dean.murrison@gov.sk.ca
Securities – Online Energy Inc. Decision pursuant to section 92 of The Securities Act, 1988
November 27, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that Online Energy Inc. is no longer a reporting issuer.
Securities – WGI Heavy Minerals, Incorporated Decision pursuant to section 92 of The Securities Act, 1988
November 23, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that WGI Heavy Minerals, Incorporated is no longer a reporting issuer.
Securities – Score Media Inc. Decision pursuant to section 92 of The Securities Act, 1988
November 20, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that Score Media Inc. is no longer a reporting issuer.
Securities – The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) Proposed Consequential Amendments to Multi-Lateral Instrument 11-102 Passport System
November 20, 2012 - This notice describes amendments to Multilateral Instrument 11-102 Passport System proposed by the Canadian Securities Administrators. The Financial and Consumer Affairs Authority of Saskatchewan is publishing the proposed amendments to MI 11-102 for a 60 day period commencing on November 20, 2012. Other members of the Canadian Securities Administrators have already published the proposed amendments for comment. Comment period ends January 28, 2013.
- Notice and Request for Comment
- Appendix A - Amendments to MI 11-102
- Appendix B - Amending Instrument for MI 11-102
- Appendix C - Amending Instrument for MI 11-102
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
Securities – Canadian Regulators Propose to Mandate OBSI’s Dispute Resolution Service
November 15, 2012 - The Canadian Securities Administrators (CSA) today published for comment amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, which would require all registered dealers and advisers, outside of Québec, to use the Ombudsman for Banking Services and Investments (OBSI) as the common dispute resolution service (DRS) for the securities industry.
The CSA has determined that a common DRS for the securities industry is in the best interest of both investors and registrants, and that OBSI is the appropriate choice. OBSI is an independent, not-for-profit organization with extensive experience, having served as the DRS provider for self-regulated organization members and other registrants for the past 10 years.
“Mandating all registered dealers and advisers to offer dispute resolution services through OBSI will establish a level playing field in terms of expectations and costs, and will provide investors with a common, independent and consistent service standard,” said Bill Rice, Chair of the CSA and Chair and CEO of the Alberta Securities Commission.
Under the proposed amendments, investors would benefit from:
- a common DRS standard;
- an independent DRS provider;
- enhanced awareness of where to go for DRS services; and,
- consistent expectations in terms of service levels and outcomes.
The CSA has been working with OBSI as it reviews its processes to ensure it will continue to provide effective services for new registrant members.
The CSA is seeking public comment on proposed amendments to NI 31-103. To comment, please refer to the CSA member websites. The comment period is open until February 15, 2013.
In Québec, the mediation regime administered by the Autorité des marchés financiers will continue to apply.
The CSA, the council of the securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.
Comment period ends February 15, 2013.
- Notice and Request for Comment
- Annex A - Proposed Amendments to NI 31-103
- Annex B - Blackline of Proposed Amendments to NI 31-103
- Annex C - Proposed Amendments to CP 31-103CP
- Annex D - Authority for the Instrument
For more information contact:
Dean Murrison, Director
Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan S4P 4H2
Phone: (306) 787-5842
Fax: (306) 787-5899
Email: dean.murrison@gov.sk.ca
Securities – CSA Staff Notice 11-320 Notice of Local Amendments-Nova Scotia and Yukon
November 15, 2012 - The Canadian Securities Administrators (CSA) today published Staff Notice 11-320 Notice of Local Amendments - Nova Scotia and Yukon to highlight changes to rule consolidations where a local jurisdiction has amended a national or multilateral instrument to reflect changes that affect activity only in that local jurisdiction.
For more information contact:
Dean Murrison, Director
Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan S4P 4H2
Phone: (306) 787-5842
Fax: (306) 787-5899
Email: dean.murrison@gov.sk.ca
Securities – Bill No. 65 - The Securities Amendment Act, 2012
November 14, 2012 - Bill No. 65 – The Securities Amendment Act, 2012 - An Act to amend The Securities Act, 1988 and to make consequential amendments to other Acts.
Securities – Barrick Energy Inc. Decision pursuant to section 92 of The Securities Act, 1988
November 14, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that Barrick Energy Inc. is no longer a reporting issuer.
Securities – Coventree Inc. Decision pursuant to section 92 of The Securities Act, 1988
November 13, 2012 - Decision pursuant to section 92 of The Securities Act, 1988that CoventreeInc. is no longer a reporting issuer.
Securities – Geomark Exploration Ltd. Decision pursuant to section 92 of The Securities Act, 1988
November 5, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that Geomark Exploration Ltd. is no longer a reporting issuer.
Securities – Notice of Call to Schedule Hearing Dates in the Matter of Gregory Todd Whiteside and Megan Whiteside
November 5, 2012 - today the Financial and Consumer Affairs Authority (FCAA) issued a Notice of Call to Schedule Hearing Dates in the matter of Gregory Todd Whiteside and Megan Whiteside.
Securities – Luxfer Canada Limited Decision pursuant to section 92 of The Securities Act, 1988
November 5, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that Luxfer Canada Limited is no longer a reporting issuer.
Securities – Allied Gold Mining PLC and St Barbara Limited Decision pursuant to section 92 of The Securities Act, 1988
November 2, 2012 - Decision pursuant to section 92 of The Securities Act, 1988 that Allied Gold Mining PLC and St Barbara Limited are no longer reporting issuers.
Securities – Statement of Allegations of Staff in the Matter of Gregory Todd Whiteside and Megan Whiteside
November 1, 2012 - today the Financial and Consumer Affairs Authority (FCAA) issued a Statement of Allegations of Staff in the matter of Gregory Todd Whiteside and Megan Whiteside.
For more information please 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) 787-5842
Fax: (306) 787-5899
Email: ola.ben-ajayi@gov.sk.ca
Securities Division
Suite 601, 1919 Saskatchewan Drive
Regina, Saskatchewan S4P 4H2
Tel: (306)787-5645
Fax: (306)787-5899
Email: fcaa@gov.sk.ca