So Hard Done By? CSA Proposes To Reduce Burden With Continuous Disclosure Reforms

In furtherance of their ongoing burden reduction initiative (see our April 2018 Blakes Bulletin: CSA Announce Policy Projects to Reduce Regulatory Burden for Public Companies), the Canadian Securities Administrators (CSA) have released proposed amendments to National Instrument 51-102 – Continuous Disclosure Obligations (NI 51-102) and other related changes to securities laws and guidance (collectively, the Proposed Amendments).

Both "interesting and sophisticated" (from "So Hard Done By" by The Tragically Hip), the Proposed Amendments are intended to reduce regulatory burden by fostering streamlined reporting and increasing reporting efficiency for reporting issuers (other than investment funds), while increasing the quality and usability of the disclosure provided to investors without compromising investor protection or the efficiency of the capital markets. In particular, the Proposed Amendments would streamline management's discussion and analysis (MD&A) and