Globally, most jurisdictions use a disclosure-based system instead of a merit-based system in their securities law regimes. Disclosure enhances capital market efficiency through effective dissemination of information that is material to investor decisions, in turn facilitating the raising of capital in a cost-effective and timely manner. This article examines selective aspects of disclosure in securities law across numerous jurisdictions, specifically, how it serves as a public policy instrument in capital markets. It explores whether the current regulatory framework encourages "full, true, and plain" disclosure, concluding that the increasing complexity of products and the rapid growth in electronic-based disclosure offers both upside potential and downside risks to market integrity. T...
...In such a system, judgments about the "merits" of a particular product or issu... statutory requirements and deference to business judgment in determining what information is consid..., however, can vary given the frequency of rule changes, the amount of codification, and whether a... with regulatory requirements.11 In Canada and the United States, as in many jurisdictions, s...
...12 when the Supreme Court of Canada ruled that the company had not violated securities.... 2. The applicability of the business judgment rule . The Supreme Court considered whether the bu...
...It operates its business around the world in an integrated and coordinated ...Legal Context . For the years in issue, the rule enabling the CRA to adjust transfer prices was con... the Tax Court of Canada, delivered his judgment after a 47-day hearing. An impressive roster of wi...
Arbitration . Paris Court of Appeal rules in favour of enforcing Paris ICC arbitral award, d.... Click here for the judgment on Bailii . Civil procedure . Expert witness immun... a generic version of the same drug in Canada and imported it into the UK. The Patent Holders co...
Preface - II. Original introduction - III. Designing an optimal regulatory system - A. Regulatory Objectives - B. Characteristics of an Optimal Regulatory System - C. Regulatory Strategies - D. Organization of the Regulatory System - IV. Canada’s regulatory system - A. Current Structure of Canada’s Regulatory System - B. Comments on Canada’s Regulatory System - V. Comparative analysis of the united kingdom, australia, united states, france, germany, the netherlands, and hong kong - A. The United Kingdom - B. Australia - C. The United States - 1. Current System - 2. Calls for Reform - 3. U.S. Treasury Blueprint for a Modernized Financial Regulatory Structure - a) Market Stability Regulation - b) Prudential Regulation - c) Business Conduct Regulation - D. France - E. Germany - F. Hong ...
...and Canada, with particular attention to the recent Walt Disn...
... commissions should defer to the business judgment of a target board of directors in deciding whether... and the references to the Supreme Court of Canada's discussion of the business judgment rule in the ...
The Business Judgment Rule in Canada . "Directors and officers will not ...
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