A Refreshed Proposal To Streamline Disclosure Requirements For Venture Issuers

The Canadian Securities Administrators have launched new proposals to amend the disclosure and corporate governance requirements applicable to venture issuers, including the streamlining of the interim MD&A requirements.

Background

The proposals are a second attempt by the CSA to change venture issuer disclosure requirements and improve corporate governance. The previous proposal involved a new disclosure regime which lost support from the venture issuer community which considered it too burdensome to transition to a new regime during a challenging time.

The new proposals purport to have the needs and expectations of venture investors in mind, by streamlining the disclosure requirements for venture issuers to allow their management to focus on the growth of their businesses.