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Canadian securities regulators move forward with harmonized regulatory approach for take-over bids in Canada

  • Securities - CSA Image

Sep 11, 2014

On September 11, the Canadian Securities Administrators published CSA Notice 62-306, Update on Proposed National Instrument 62-105 Security Holder Rights Plans and the Autorité des marchés financiers Consultation Paper An Alternative Approach to Securities Regulators’ Intervention in Defensive Tactics.

Following a review of the comments on both proposals and further reflection and analysis, the CSA have determined to develop a new harmonized regulatory proposal based on amendments to the current take-over bid regime (the Proposed Bid Amendments). Subject to receipt of necessary approvals, the CSA intend to publish complete details of the Proposed Bid Amendments for comment during the first quarter of 2015.

Review CSA Notice 62-306.

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