Brandon Barnes

What should companies disclose?

It is rare that the Supreme Court of Canada gets an opportunity to comment on the securities laws of Canada, let alone offer guidance. In the case of Sharbern Holding Inc. v. Vancouver Airport Center Ltd, it has though in a big way. The concept at issue in Sharbern is "materiality" – determining what information should be disclosed to investors by issuers in offering documents. The Supreme Court’s decision clarified the test for what is "material", borrowing a test from American securities law and ultimately siding with the issuer.

By Brandon Barnes | August 12, 2011

4 min read

Regulation fight an uphill battle for Feds

Whatever you think about the proposal for national securities regulation, the persistence of the Federal Government is admirable. Despite opposition from Alberta and Quebec, waffling support in British Columbia and doubt about the legality of the policy itself, Ottawa has unveiled draft laws, put together a “Transition Office” to manage the process, and done their best to ensure that everyone expects that some form of national regulation is on its way.

By Brandon Barnes | April 13, 2011

5 min read