Insights from TSX Trust

Welcome to the first issue of the TSX Trust Quarterly Client Update.  In this issue, you will find a series of articles highlighting various aspects of the services we offer. We also highlight some key considerations for the 2019 meeting season, as well as our printing services, regulatory initiatives to reduce “red tape” and more.  We hope you find them interesting and informative, and if you have any feedback, please contact your relationship manager.

TMX Group Limited and its affiliates do not endorse or recommend any securities issued by any companies identified on, or linked through, this site. Please seek professional advice to evaluate specific securities or other content on this site. All content (including any links to third party sites) is provided for informational purposes only (and not for trading purposes), and is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The views, opinions and advice of any third party reflect those of the individual authors and are not endorsed by TMX Group Limited or its affiliates. TMX Group Limited and it affiliates have not prepared, reviewed or updated the content of third parties on this site or the content of any third party sites, and assume no responsibility for such information.


Winter 2019
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TSX Trust Introduces Signature Guarantee Bond




TSX Trust recently introduced its innovative new Signature Guarantee Bond (SGB).  A first for the Canadian marketplace, the SGB was developed in conjunction with TSX Trust’s insurance industry partners and is currently available only to security holders of publicly traded TSX Trust clients.

The SGB is particularly useful for shareholders who cannot obtain a Medallion guarantee or a participating bank’s signature guarantee. The bond is especially useful for shareholders living outside Canada and the United States.
 
A shareholder can obtain an SGB to deal with a variety of situations, including estate transfers, re-registrations and replacements (when there is a transfer).  It can also be used for positions evidenced by Direct Registration Service (DRS) statements.  

Fees are payable by the shareholder using a variety of methods and are based on the market value of the security and are added to standard presentation fees. Once fees have been remitted and the bond requirements satisfied, the transfer can be processed using our normal processes.

For more information on the TSX Trust SGB program, contact your dedicated relationship manager.

LATEST SECTOR ACTIVITIES 

The Market Intelligence Group (MiG) provides market information through a monthly publication called The MiG Report. The MiG Report provides year-to-date data on listings, financings and trading activity across Toronto Stock Exchange and TSX Venture Exchange, broken down by sector and region.

Message from the CEO

Hello from TSX Trust!


Our main focus at TSX Trust has always been to serve you with the utmost professionalism, expertise and efficiency. Having recently joined this great team, I look forward to working with you to achieve your goals. TSX Trust has been entrusted by more than 1,000 clients who value our commitment to their success, our expertise and our track record of operational excellence. Our team is here for you. 

We plan to be significantly more proactive in how we communicate with you. With our new regular outreach, you can look forward to hearing about changes to the regulatory environment and how they affect you, information on best practices and news on how we are advocating, improving processes and developing solutions for you.

One highlight of our commitment to you is our digital modernization plan, making your online interactions easier for you and your investors. The first step in this process was the mid-February refresh of the TSX Trust website, which included making it fully mobile-enabled. 

Look for our upcoming client survey, launching in the second quarter. It will give you the opportunity to tell us how we ’re doing and to make further suggestions on how we can help you achieve your goals.  

We hope that the articles and information in this update keep you well-informed and highly effective, and we look forward to giving you ongoing updates on all the work we’re doing on your behalf. 

We’re always happy to receive your feedback, including ideas for future articles and questions about our services. Just contact me at 416 947.4220 or at claire.johnson@tmx.com, or email your trusted relationship manager. We value our one-on-one relationships with you and look forward to hearing your thoughts, opinions and ideas.

Copyright © 2019 TSX Inc. All rights reserved.

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MiG Report 

Getting ready for Meeting Season 2019





Few events are more important to a publicly traded issuer than its Annual General Meeting (AGM).  Not only is it a regulatory requirement for companies to communicate with its security holders,  it’s also an opportunity to connect with institutional investors, the legal community, and as well as the general public.

With this in mind, it’s imperative that the AGM process runs smoothly and in compliance with the framework established by the applicable laws and regulations.

At TSX Trust our experienced, always-on team of professionals manage hundreds of annual meetings each year and have the expertise to support issuers at every step of the process. By leveraging our meeting planning tool, we ensure the collection of all necessary information required to plan your AGM effectively and efficiently, communicate with security holders on your behalf, and assist with filing requirements to meet key deadlines.  

Notice and Access

Many issuers now use “Notice and Access” to reduce the cost of meeting materials such as the annual report or the proxy circular (and associated postage). Recent changes to the Canada Business Corporations Act have made Notice and Access even easier by effectively allowing any federally incorporated issuers to use it without needing an exemption. 

2019 Proxy Planning Presentation 

If you have not already done so, you may wish to review the 2019 Proxy Planning Presentation, co-hosted by TMX and the Canadian Investor Relations Institute, which is available to download from the CIRI website at no charge to you, regardless of whether you are a CIRI member or not. The webinar features industry experts who share proxy trends for 2019.  

Your success is our top priority. Like every year, we look forward to helping you have a successful annual meeting in 2019. If you have any questions, please contact your dedicated TSX Trust relationship manager. 

OSC invites comments on reducing regulatory burden





The Ontario Securities Commission (OSC) recently published a staff notice on what’s known as burden reduction. The notice outlined plans to broadly consult Ontario marketplace participants on how to further reduce regulatory burden.

A key area of focus is streamlining and improving the disclosure information provided to investors. The OSC has also established a Burden Reduction Task Force that has a mandate to consider and act upon suggestions to eliminate unnecessary rules and processes while protecting investors. This initiative builds on the OSC's efforts since 2016 to reduce regulatory burden across the country through its ongoing work with the Canadian Securities Administrators. Interested stakeholders can submit written comments on the new OSC initiatives by March 1.   As part of its consultations, the OSC will hold a roundtable on March 27  to discuss the suggestions it received during the comment period. 

TMX Group, the parent of TSX Trust Company, has submitted a letter on behalf of its subsidiaries, including the Toronto Stock Exchange and the TSX Venture Exchange, in response to the OSC staff notice. The response letter sets forth certain suggested measures for the OSC to consider in order to reduce the regulatory burden on issuers while not compromising investor protection. Representatives of TMX Group will attend the roundtable, so don’t hesitate to provide us with any suggested recommendations or feedback and we’ll aim to integrate it into the discussion. And be sure to look back here for an update following the March 27th session.

>>View TMX Group’s response https://www.osc.gov.on.ca/documents/en/Securities-Category1-Comments/com_2019301_11-784_gradenc.pdf  

Printing Services at TSX Trust




Over the past two years, the TSX Trust team has completed over 1,400 print jobs for more than 300 unique clients, usually combined with mailing the printed output to security holders. It’s just one key example of the investments we’ve made in our people, processes and partnerships to help you drive inefficiency out of the regulatory reporting process, consolidate vendor spending, and leverage the experience and capabilities of the TSX Trust team.

One such investment is the recent hiring of Scott Hawrelak as Director of Printing Solutions.  With almost a decade of experience with RR Donnelley as a Sales Director, Scott has focused on new business development among Canada's leading public and emerging companies by building relationships across many functional groups including legal, finance, investor relations and human resources. That expertise is now available to you.  

Over the past few years, the financial printing landscape has changed through a number of consolidations, regulatory changes and a shift in strategic focus for some of the traditional vendors. As a result, we saw an opportunity to meet the need for nimble, customer-focused, and cost-effective service.

For the 2019 annual meeting season and beyond, TSX Trust will focus on extending its printing capabilities beyond its base of established transfer and trust clients. To meet all of your needs, we have brought printing, binding, and mailing all under one roof, combined with the personalized, always-on service offered by the TSX Trust team.

Scott and the rest of the relationship management team stand ready to help you with your printing requirements. Just give him a call at 416 947.6673, or email him at scott.hawrelak@tmx.com.

The 2019 Proxy Planning Presentation, co-hosted by TMX and the Canadian Investor Relations Institute is available to download from the CIRI website. The webinar features industry experts who share proxy trends for 2019.

Your definitive source for insights, news and perspectives

2019 Proxy Planning Presentation

Catherine De Giusti
Director, Corporate, Securities and Transactions, TSX Trust 
Phone: 416 947.4204 
Email:catherine.degiusti@tmx.com 

Helen Stratigeas
Chief Operating Officer, TSX Trust 
Phone: 416 607.7888 
Email: helen.stratigeas@tmx.com 

Luisa Roberto                                               
Director, Operations, TSX Trust
Phone: 416 607.7899
Email: luisa.roberto@tmx.com
 

Scott Hawrelak                                   
Director Print Solutions, TSX Trust
Phone: 416 947.6673
Email: scott.hawrelak@tmx.com
 

Claire Johnson
President, TSX Trust  
Phone: 416 947.4220 
Email: claire.johnson@tmx.com