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ARTICLE · 14 JULY 2008

Canadian Securities Administrators Propose Revised Certification Requirements – Proposed National Instrument 52-109

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On April 18, 2008, the members of the Canadian Securities Administrators (CSA) issued a notice and request for comments in connection with the revised proposal for the repeal of Multilateral Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings and its proposed replacement, National Instrument 52-109 (Proposed Instrument).

CanadaFinance and Banking
Jo-Anna Brimmer
Jo-Anna Brimmer
Roger Chouinard
Roger Chouinard
Robert Hansen
Robert Hansen
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On April 18, 2008, the members of the Canadian Securities Administrators (CSA) issued a notice and request for comments in connection with the revised proposal for the repeal of Multilateral Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings and its proposed replacement, National Instrument 52-109 (Proposed Instrument)1. The Proposed Instrument and related forms and proposed Companion Policy 52-109CP (Proposed Companion Policy) reflect revisions made as a result of extensive comments received in response to previously proposed materials published for comment in March 2007 (March 2007 Proposal)2.

The principal substantive certification additions of the March 2007 Proposal have been retained. Namely, the chief executive officer (CEO) and chief financial officer (CFO) of a reporting issuer, subject to certain exceptions discussed below, will be required to certify in

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