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ARTICLE · 02 DECEMBER 2022

Reporting Issuers Need To Be Factual And Balanced, Striving For Accurate And Comprehensive ESG Reporting

McMillan LLP
McMillan LLP
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McMillan LLP

McMillan LLP

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McMillan is authoring a number of bulletins to assist clients in navigating the quickly developing regulatory regime surrounding ESG.

CanadaCorporate/Commercial Law
Leila Rafi
Leila Rafi
Ravipal Bains
Ravipal Bains
Patricia Chehadé
Patricia Chehadé
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McMillan is authoring a number of bulletins to assist clients in navigating the quickly developing regulatory regime surrounding ESG. The introductory bulletin for the series can be found here. This bulletin seeks to deliver guidance to issuers on providing high-quality disclosure. McMillan's Capital Markets & Securities Group regularly interacts with securities regulators on these and other related issues.

The Canadian Securities Administrators ("CSA") recently published its biennial report reflecting the results of the Continuous Disclosure Review Program, which assesses reporting issuers' compliance with continuous disclosure obligations. The CSA Staff Notice 51-364 Continuous Disclosure Review Program Activities for the fiscal years ended March 31, 2022 and March 31, 2021 (the "Staff Notice") outlines common disclosure deficiencies in financial statements, management discussion and analysis (MD&A) and flags overly promotional disclosure in the area of ESG.

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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