Entire Section

  • Appointment of a capital market intermediary

    • 3A.33

      The appointment by an issuer of a capital market intermediary must be made under a written engagement agreement before the capital market intermediary conducts any specified activities under paragraph 21.1.1 of the Code of Conduct.

    • 3A.34

      The written engagement agreement of a capital market intermediary pursuant to rule 3A.33 must at least specify the following:
      (1) the roles and responsibilities of the capital market intermediary;
      (2) the fee arrangement (including the fixed fees to be paid to the capital market intermediary as a percentage of the total fees to be paid to all syndicate CMIs);
      (3) the time schedule for payment of the fees to the capital market intermediary; and
      (4) (for placing in connection with a New Listing) the obligations of the new applicant and its directors to provide the assistance specified in rule 3A.46.
      Note: The total fees in this rule, also commonly referred to as “underwriting fees”, include fixed and discretionary fees for providing one or more of the following services to the issuer: providing advice, marketing, bookbuilding, making pricing and allocation recommendations and placing the equity securities or interests (including equity securities, interests in a REIT, stapled securities and securities of an investment company (as defined in rule 21.01)) with investors.