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ARTICLE · 20 MAY 2020

CSA Publishes Guidance On Continuous Disclosure Obligations In The Context Of COVID-19

McCarthy Tétrault
McCarthy Tétrault
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On May 6, 2020, the Canadian Securities Administrators published a presentation (the "CSA Presentation") with guidance on the application of continuous disclosure obligations and considerations for issuers in the context of COVID-19.

CanadaCoronavirus (COVID-19)
Reglementation Des Valeurs Mobilieres
Reglementation Des Valeurs Mobilieres
Sonia Struthers
Sonia Struthers
Fraser Bourne
Fraser Bourne
Camille Marceau
Camille Marceau
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On May 6, 2020, the Canadian Securities Administrators published a presentation (the "CSA Presentation") with guidance on the application of continuous disclosure obligations and considerations for issuers in the context of COVID-19.

The presentation focuses on three main areas of continuous disclosure: management's discussion and analysis (MD&A), financial information and material change reporting. Each section considers how to discuss the effects of COVID-19 and sets out key questions for issuers to consider when assessing the impacts of COVID-19 on their business and their disclosure.

Management's Discussion & Analysis

The MD&A section of the CSA Presentation touches on discussion of operations, liquidity and capital resources, forward-looking information and risk factors, and includes the following guidance:

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