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Here are the top reads,

Regulators: Canada’s securities regulators are taking steps to try to reduce the regulatory burden on publicly traded companies. Story (Alexandra Posadzki, for subscribers)

Robo-adviser: Online portfolio manager Nest Wealth is widening its product shelf to become one of the first robo-advisers to offer group retirement savings plans for small to medium businesses in Canada. Story (Clare O’Hara)

Disclosure: Aphria Inc.’s purchase of Nuuvera Inc. is raising legal questions that reverberate beyond the marijuana deal itself. Six Aphria directors and the cannabis grower’s chief financial officer did not disclose to the market that they personally held a total of 900,000 Nuuvera shares when the two companies struck an $826-million cash-and-stock deal in late January. By the time it closed last Friday, the transaction’s value had been cut in half. Under Ontario corporate law, the Aphria directors were not required to disclose their Nuuvera shares to the market – or recuse themselves from voting on the deal – unless Aphria deemed their holdings to be material. Story (Christina Pellegrini, for subscribers)

FINANCIAL SERVICES WRAP

Gender pay gaps: Citigroup, Bank of America Merrill Lynch (BAML), Credit Suisse and Morgan Stanley all revealed large gender pay gaps in their British operations on Tuesday, the latest banks to report lower average hourly pay for women caused by having fewer female staff in top roles. Story

DEAL WRAP

Health care sector: GlaxoSmithKline said on Tuesday it will buy Novartis’s 36.5 percent stake in their consumer health care joint venture for US$13 billion in cash, and will also begin a strategic review of some other businesses. Story

U.S. venture capital: While the Midwest continues to lag Silicon Valley in the total amount of venture capital raised, there is still progress being made as more of the region’s fast-growing tech startups raise rounds that are closer to Silicon Valley-size. Root Insurance, a Columbus-based car insurance startup that calculates insurance premiums based upon driver behavior, announced today that it has raised a US$51 million series C round, led by Redpoint Ventures. VentureBeat

Tech sector: Google is going all-in on GIFs today with the news that it’s acquiring GIF search engine Tenor. Terms of the deal were not disclosed. VentureBeat

Tech sector: IT Hon Teng Ltd., part of the contract manufacturing giant Foxconn Technology Group, agreed to buy Belkin International Inc. in the latest move by billionaire Terry Gou to expand in branded goods. Bloomberg

WHAT WE’RE READING ELSEWHERE

Asset management: Janus Henderson co-chief executive Andrew Formica has acquired his way to $371 billion under management – and he’s not done yet. Institutional Investor

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