CSA Adopt Disclosure Requirements For Non-GAAP Financial Measures

New national instrument sets out requirements for issuers that include non-GAAP and other financial measures in public disclosure

• A new National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure will apply to reporting issuers (other than investment funds, designated foreign issuers and SEC foreign issuers) and some non-reporting issuers.
• Issuers that include non-GAAP and certain other financial measures in public disclosure will be required to provide additional information to help investors understand the context of such measures.
• The new requirements are intended to reduce issuers' uncertainty regarding disclosure obligations, while providing transparency for investors.