Independency and Avoidance of Conflict of Interest
OFS-3.2.19
An appointed advisor must be independent of the
issuer . An appointed advisor will not be considered independent by the CBB if:(a) He owns an interest of 5% or more ofequity securities of theissuer or any other company within theissuer's group;(b) He has a business relationship with, or financial interest in theissuer or any other entity in theissuer's group that would give the appointed advisor, or the appointed advisor's group a material interest in the outcome of the transaction;(c) He provides and has provided in the previous 2 years any service, assurance, or guidance in any event to theissuer , other than the offering or listing in which he is appointed as an appointed advisor, or to another entity in theissuer's group; or(d) A director, partner or employee of the appointed advisor or another entity in the appointed advisor's group has a material interest in theissuer or any other entity in theissuer's group.Amended: July 2018
January 2014OFS-3.2.20
When an appointed advisor undertakes business other than the capital market advisory services, or undertakes two or more of the capital market advisory services, the appointed advisor must ensure that the performance of such business is subject to the avoidance of any conflict of interest.
January 2014