Cathy Singer

Brookfield Infrastructure Partners L.P. and Brookfield Infrastructure Corporation applied for exemptive relief on behalf of Brookfield Infrastructure Corporation Exchange Limited Partnership from continuous disclosure, certification, insider reporting, audit committee, and corporate governance requirements.

The relief was sought to accommodate the issuance of class B exchangeable limited partnership units in connection with the acquisition of Inter Pipeline Ltd. The Ontario Securities Commission granted the requested exemptions, subject to conditions ensuring that the parent issuers continue to satisfy modified continuous disclosure requirements and that the exchangeable units are treated analogously to designated exchangeable securities.

HEXO Corp. and 48North Cannabis Corp. applied for exemptive relief from continuous disclosure, certification, and insider reporting requirements on behalf of 48North following a plan of arrangement where 48North became a wholly-owned subsidiary of HEXO.

The Ontario Securities Commission granted the requested relief, subject to conditions including that HEXO remains a reporting issuer, files its required continuous disclosure documents, and that 48North does not issue any further securities to the public.

The Filer, People Corporation, applied to the Ontario Securities Commission for an order declaring that it has ceased to be a reporting issuer in all jurisdictions of Canada.

The Filer represented that its outstanding securities are beneficially owned by fewer than 15 securityholders in each Canadian jurisdiction and fewer than 51 worldwide, and that its securities are not traded on any marketplace.

The Principal Regulator was satisfied that the Filer met the legislative test and granted the order.

The Filer, People Corporation, applied to the Ontario Securities Commission for an order to cease to be a reporting issuer in all jurisdictions of Canada where it is a reporting issuer.

Following a statutory plan of arrangement and subsequent amalgamations, the Filer's outstanding securities were beneficially owned by fewer than 15 securityholders in each jurisdiction of Canada and fewer than 51 worldwide.

The Commission granted the requested order.

The applicant, Gold X Mining Corp., applied to the Ontario Securities Commission for an order to cease to be a reporting issuer following its acquisition by Gran Colombia Gold Corp. through a statutory plan of arrangement.

The Commission granted the order, noting that the applicant's outstanding warrants did not preclude the relief sought and that the applicant had no intention to seek public financing.

Staff of the Ontario Securities Commission sought an inter-jurisdictional enforcement order against the respondents under subsection 127(10) of the Securities Act.

The respondents had previously entered into a settlement agreement with the Alberta Securities Commission, admitting to breaches of the Alberta Securities Act involving misleading offering memoranda and undisclosed related party loans.

The Commission found that the threshold under subsection 127(10) was met and that it was in the public interest to issue an order under subsection 127(1).

The Commission imposed market prohibitions on the respondents substantially similar to those agreed to in the Alberta settlement, with minor modifications to align with Ontario securities law.

The applicant applied for exemptive relief on behalf of an exchange-traded fund and future ETFs.

The applicant sought exemptions from the requirement to include an underwriter's certificate in the ETF's prospectus and from the take-over bid requirements for purchasers of listed securities in the normal course.

The Ontario Securities Commission granted both exemptions, noting that authorized dealers do not perform conventional underwriting services and that applying take-over bid requirements would adversely impact the liquidity of the listed securities.

The Filers applied for exemptive relief on behalf of certain top funds to permit them to invest in underlying funds managed by the same or affiliated managers.

The relief sought included exemptions from related issuer restrictions, reporting requirements for related party transactions, and the requirement to obtain client consent before purchasing securities of an issuer in which a responsible person has a significant interest.

The Ontario Securities Commission granted the requested relief, subject to conditions ensuring the investments are compatible with the top funds' objectives, effected at an objective price, and subject to appropriate disclosure and fee duplication prohibitions.

Norbord Inc. applied to the Ontario Securities Commission for an order to cease to be a reporting issuer in all jurisdictions of Canada.

Following a plan of arrangement, Norbord became a wholly-owned subsidiary of West Fraser Timber Co. and its common shares were delisted.

Although Norbord still had outstanding debt securities and incentive plans, the Commission was satisfied that the test under the legislation was met and granted the requested order.

Staff of the Ontario Securities Commission and the respondents sought approval of a settlement agreement concerning allegations of unregistered trading.

The respondents admitted that Moskowitz Capital Management Inc. distributed preferred shares in mortgage investment entities without being registered as a dealer, contrary to s. 25(1) of the Securities Act.

The Commission approved the settlement, noting the respondents' substantial cooperation, self-reporting, and remedial steps.

The settlement included a $350,000 administrative penalty, $25,000 in costs, and an undertaking to retain an exempt market dealer to complete a know-your-client and suitability review.

The Filer, a French corporation, applied to the Ontario Securities Commission for exemptive relief from the prospectus and dealer registration requirements in connection with a global employee share offering.

The offering involved the issuance of units of a temporary French mutual fund (FCPE) to Canadian employees, which would later merge into a permanent FCPE holding the Filer's ordinary shares.

The Commission granted the requested relief, subject to conditions including that the first trade of the securities be made outside of Canada or to a person outside of Canada, as the Filer is a foreign issuer and not a reporting issuer in any Canadian jurisdiction.