On November 19, 2024, the Canadian Securities Administrators
(CSA) announced they are moving forward with the
previously announced access model (the “Access
Model”) for non-investment fund reporting issuers to
deliver annual financial statements, interim financial reports and
related management's discussion & analysis
(“Continuous Disclosure Documents”) by
providing electronic access to the documents rather than delivering
them directly to investors. The CSA has made certain material
changes to its original draft regulations and has republished the
proposed Access Model for an additional 90-day public comment
period.
Background
On April 7, 2022, the CSA published proposed regulations for the
Access Model, the details of which can be found in our
Update, Canadian Securities Administrators Publish
Proposed Access Equals Delivery Model. This original
Access Model covered both prospectuses and Continuous Disclosure
Documents. The Access Model for prospectuses was
