Canadian securities rules are constantly being revised in most provinces. A rule-making and policy reformulation exercise has been in progress for many years in Ontario and in other provinces. As well, Canadian
securities commissions have implemented international understandings that extend the acceptance of Canadian disclosure documents beyond Canada’s borders. The larger securities commissions are self-funding and
have used their resources to expand the reach of their regulation. These commissions are also more aggressively enforcing their rules. Given the pace of change and the complexity of existing law, corporate counsel, accountants, investment dealers and lawyers practising corporate law must have a greater familiarity with current securities practice and the
details of proposed legislation and policy.