A. Neil Hutton
McLeod Law LLP
email@example.com | www.mcleod-law.com
Tell us about your background and career?
I am a partner in the corporate and commercial group of McLeod
Law LLP, a mid-sized firm located in Calgary, Alberta. My
practice is based in corporate finance, securities, and merger
and acquisitions, predominantly in the real estate, construction,
oil and gas, environmental services and manufacturing sectors.
For over 20 years I have been working with reporting issuers,
exempt market issuers and closely held companies to achieve
their capital raising goals, structuring joint ventures, limited
partnerships and business trusts, maintaining regulatory
compliance and managing acquisitions and dispositions.
Our Private Lending group acts for borrowers and private lenders
throughout Alberta, including mortgage investment entities
(MIEs), mortgage syndicators and mortgage brokers.
Our firm was founded in the real estate sector and has significant
experience working with real estate developers in raising capital,
both privately and through the exempt market in joint venture,
limited partnership and mutual fund trust structures.
What is your company’s focus in the private market?
With two offices in Calgary, our Private Lending group is
dedicated to the exempt market with a focus on MIEs and real
estate development. We have extensive knowledge of these
industries and are attuned to the ongoing developments in the
rules and regulations by which MIEs and other entities involved
in the private market are governed. We assist clients in obtaining
and maintaining their registrations as exempt market dealers,
investment funds managers and portfolio managers. We also
work with reporting issuers listed on the TSX Venture Exchange
to achieve compliance with the prospectus and registration
The private market is constantly evolving, as are securities
regulations. Over the past few years there has been increasing
regulatory scrutiny in the private market and in particular, with
MIEs. Based on our relationships with the regulators and our
experience in managing regulatory compliance reviews, we
continually monitor the disclosure requirements in Offering
Memorandums and the current and proposed regulatory regimes.
Under CSA Staff Notice 31-323, Guidance on Registration
Obligations of MIEs, Alberta MIEs are deemed to be investment
funds and are required to be managed by a registered Investment
Fund Manager. While each province has different applications of
NI 31-103, we offer advice to MIEs and mortgage syndicators on
the application of NI 31-103 for their specific circumstances.