Law Commons^™

Prospectus Disclosure And The Role Of The Securities Commissions In Ontario And Bangladesh: A Comparative Study, Md. Anowar Zahid

LLM Theses

The fundamental difference between Ontario law and Bangladesh law is that the former is based on the combination of the disclosure theory and the "blue sky" (merit review) theory while the latter is based on the disclosure theory alone. Accordingly, the Ontario Securities Commission (OSC) exercises twofold powers: it reviews the disclosures contained in a prospectus and also determines the merit of the offering. In other words, it ensures that "full, true and plain" disclosures are made in a prospectus, and at the same time it examines the offering to see whether any element jeopardizing the public interest is present …