Our readers will recall that the Canadian Securities Administrators (CSA) have
proposed to significantly expand the type of information required
to be provided in private placement reports of trade.
As we discussed when this proposal was first published in
August 2015, new or amended disclosure requirements would
include detailed information on directors, executive officers,
control persons and promoters (for certain types of issuers) as
well as the identities of persons being compensated as a result of
the distribution, and other significant changes for investment
funds.
For certain non-public issuers other than investment funds,
disclosure will be required of the identities of all directors,
officers, control persons and promoters of the issuer and all
directors and officers of non-individual control persons and
promoters, along with the number of and total amount paid for any
voting securities of the issuer held by such persons.
