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Canadian Securities Regulators Adopt Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions

  • Securities - CSA Image

Jul 20, 2017

On July 20, 2017, the securities regulators of Alberta, Manitoba and New Brunswick (the Participating Jurisdictions) published a notice of adoption of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (MI 61-101).

MI 61-101 is designed to facilitate the fair treatment of all security holders by addressing potential conflicts of interests on the part of insiders and related parties in certain transactions, and is already in effect in Ontario and Quebec. The instrument contains requirements for enhanced disclosure, independent valuations and majority of minority security holder approvals for transactions such as insider bids, issuer bids, business combinations and related party transactions.

For further details, re­view the No­tice on the CSA's website and MI 61-101 on the ASC’s website.

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