Legal news and trends for Canadian in-house counsel and c-suite executives
Issue link: https://digital.canadianlawyermag.com/i/50882
to get listed won't be affected either. "If you're local, you may not be able to get benefits, you may not have access," says Dirom. Moreover, he says, the industry has been assured the venture exchange will be maintained. "Nobody's been able to replicate that around the world," he says. Garrett suggests lawyers dealing with exchange issues might want to familiar- ize themselves with upcoming British anti-bribery rules and brush up on the U.S. Foreign Corrupt Practices Act. "If you are in-house counsel that is listed in the U.K. or has a U.K. presence . . . that's in-house bread and butter, making sure people on the ground are comply- ing with their rules." However, he says, "from Macleod Dixon's perspective, we're in the bullish camp. We see great advantages to this. We see critical mass for the TSX. We think the TSX-V won't be as effective." From Hudec's vantage, there seems to be a wait-and-see approach as to how things will play out in the merger. He says the TSX already has 60 per cent of the world's mining listings and one-third of mining financing is done through the TSX. "The TSX is the pre- eminent mining exchange for interna- tional exploration financing," Hudec says. "We at Farris see a steady flow of international mining exploration com- panies visiting Canada to explore the relative merits of the TSX and the LSE and these companies regularly choose the TSX listing or an inter-listing over a listing on the [New York Stock Exchange] or the LSE." As a result, there are almost 1,500 mining issuers listed on the TSX and TSX-V, with less than 200 listed on the LSE and AIM. The devil will be in the details," Hudec added, "but Canada now has a very workable set of rules, and the advantage that they are well integrated with the U.S. rules, with Canadian issuers having preferred MANAGE THE INTRICACIES OF RECRUITING GLOBALLY NEW PUBLICATION GLOBAL BUSINESS IMMIGRATION HANDBOOK EDITOR: SERGIO R. KARAS, B.A., J.D. Explore the complex areas of immigration laws and visa procedures you need to consider when recruiting globally. With the Global Business Immigration Handbook, you'll get advice on the appropriate documents to draft to bring foreign employees into Canada. With proper documentation, you will avoid penalties and consequences, including fines, detention, and deportation. This primary reference will prepare you for potential difficulties in obtaining documents, and offers advice on timelines, procedures, general criteria, and on how to avoid costly errors. Each chapter focuses on the immigration practices of a different country, including: Canada, the United States, Mexico, Brazil, the United Kingdom, Italy, Spain, Sweden, Switzerland, France, Germany, Japan, and the European Union. The book analyzes the immigration laws and visa procedures that you must consider when dealing with each of these jurisdictions. Topics include: • Business Visitors • Work Without a Permit • Work Permits • International Agreements • Obstacles to Entry. ORDER # 982323-64652 $250 1 volume looseleaf book Supplements invoiced separately 978-0-7798-2323-9 Shipping and handling are extra. Price subject to change without notice and subject to applicable taxes. The contributing authors are among the most prominent corporate immigration lawyers from around the world. With their authoritative insight, you will have the information you need to maximize the efficiency of your international recruitment efforts. AVAILABLE RISK-FREE FOR 30 DAYS Order online at www.carswell.com Call Toll-Free: 1-800-387-5164 In Toronto: 416-609-3800 access to the U.S. capital markets relative to other countries. All this must be pre- served if the merger is consummated." "Once you get into the nitty-gritty details, are you going to keep that pre- dominance?" Hudec asked. And, contrary to what Kloet might say, Hudec says he just doesn't know if things will be business as usual if the merger gets done. "It's not a foregone conclusion that it's a done deal," he says. Further, Hudec agrees with Garrett that the regulatory side also remains an unknown. "We've got a set of workable rules with the U.S.," he says. "If you add an overlay of European regulations, it could be a disadvantage." Manley, though, rejected the argu- ment that there could be regulatory confusion. "Our securities regulations will continue to be made in Canada, and I have confidence in those regula- tors' ability to ensure fair and efficient capital markets," he says. IH RecGlobal_IH_June_11.indd 1 INHOUSE JUNE 2011 • 5/5/11 12:58:41 PM 37