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ARTICLE · 26 JULY 2013

Canada Border Services Agency ("CBSA") Gets Specific About 'Specific Information'

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The Canadian Securities Administrators (CSA) have published the results of their most recent annual review of continuous disclosure documents filed by Canadian public companies.

CanadaCorporate/Commercial Law
McMillan LLP
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The Canadian Securities Administrators (CSA) have published the results of their most recent annual review of continuous disclosure documents filed by Canadian public companies. There are approximately 4,200 active reporting issuers (public companies) in Canada (excluding investment funds). For the fiscal year ended March 31, 2013, CSA members conducted 1,336 continuous disclosure reviews, consisting of 368 'full' reviews and 968 'issue-oriented' reviews. This represents a 7% increase compared to the 1,248 continuous disclosure reviews completed during fiscal 2012, reflecting a greater emphasis on issue-oriented reviews due to certain CSA jurisdictions examining technical disclosure (both for mineral projects and oil and gas activities) and IFRS specific topics on a larger sample of companies. In 47% of the review outcomes, companies were required to take action to improve their disclosure, including:

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