CSA Publish for Comment Proposed Amendments to Streamline Disclosure By Venture Issuers
On May 22, 2014 the Canadian Securities Administrators (CSA) published proposed amendments to disclosure rules intended to tailor and streamline the disclosure required of venture issuers. Amendments would be made to National Instrument 41-101 General Prospectus Requirements, National Instrument 51-102 Continuous Disclosure Requirements, National Instrument 52-110 Audit Committees and related companion policies.
The CSA’s earlier proposal to create a regulatory regime for venture issuers, which would have consisted of a stand-alone rule and corporate governance requirements, was shelved in 2013. While the CSA has retained some of the disclosure-related elements of the previous proposals, the amendments proposed are intended to make targeted changes to existing rules.
The proposed amendments and the CSA Notice are available here. The comment period is open until August 20, 2014.