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ARTICLE · 02 NOVEMBER 2017

TSX Publishes Final Amendments To Website And Security Based Compensation Disclosure Requirements

The new securities based compensation disclosure rules are effective for financial years ending on or after October 31, 2017, and the deadline for compliance with the website disclosure rules is April 1, 2018.

CanadaCorporate/Commercial Law

Summary

The Toronto Stock Exchange (TSX) has published final amendments to the TSX Company Manual related to disclosure of securities based compensation arrangements and the requirement to post certain key governance documents on their websites.  The new securities based compensation disclosure rules are effective for financial years ending on or after October 31, 2017, and the deadline for compliance with the website disclosure rules is April 1, 2018.

Background

The amendments were originally proposed by the TSX in May 2016 (see our May 27, 2016 Update, TSX Proposes Amendments to Disclosure Requirements Related to Issuer Websites and Security Based Compensation Arrangements) and were revised in April 2017 in response to comments received from market participants (see our April 21, 2017 Update, TSX Publishes Revised Proposal For Amendments to Disclosure Requirements Related to Websites and Security Based Compensation Arrangements).

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