This course provides an introduction to the securities laws of the Canadian capital markets. We will cover a number of basic concepts including, among others, the purpose and scope of securities laws and regulations (i.e., what is a "security"?), initial public offerings and private placements, rules of certain stock exchanges, continuous disclosure obligations, registration requirements including those for dealers and advisers, insider trading and tipping, take-over bids, civil liability and securities enforcement. Most of these topics focus on the relationship between the investor and the issuer. Within these topics, we will discuss emerging issues in the Canadian capital markets, including the recent review to modernize securities legislation in Canada and the debate regarding regulatory burden and the tension between investor protection and efficiency of the capital markets. A main objective of the course is to review the legislation, regulations, policy and relevant rules and policies with a view to developing an understanding of the underlying policy considerations that animate securities regulation. Throughout the course, there will be opportunities to discuss and debate the policy choices reflected in the current rules.
This course provides an introduction to the securities laws of the Canadian capital markets. We will cover a number of basic concepts including, among others, the purpose and scope of securities laws and regulations (i.e., what is a "security"?), initial public offerings and private placements, rules of certain stock exchanges, continuous disclosure obligations, registration requirements including those for dealers and advisers, insider trading and tipping, take-over bids, civil liability and securities enforcement. Most of these topics focus on the relationship between the investor and the issuer. Within these topics, we will discuss emerging issues in the Canadian capital markets, including the recent review to modernize securities legislation in Canada and the debate regarding regulatory burden and the tension between investor protection and efficiency of the capital markets. A main objective of the course is to review the legislation, regulations, policy and relevant rules and policies with a view to developing an understanding of the underlying policy considerations that animate securities regulation. Throughout the course, there will be opportunities to discuss and debate the policy choices reflected in the current rules.
