Canadian Securities Administrators Seek To Reduce Regulatory Burdens For Reporting Issuers

As part of their ongoing efforts to balance investor protection through sufficient disclosure with efficiency in the capital markets, the Canadian Securities Administrators (CSA) have identified potential areas of securities legislation applicable to non-investment fund reporting issuers where the regulatory burden may be reduced without compromising investor protections and the integrity of the capital markets, in Consultation Paper 51-404 – Considerations for Reducing Regulatory Burden for Non-Investment Fund Reporting Issuers, published on April 6, 2017. The CSA are considering potential reforms aimed at reducing regulatory burdens associated with both capital raising in the public markets (i.e., prospectus-related requirements) and the ongoing costs of remaining a reporting issuer (i.e., continuous disclosure requirements) that fall into the following five categories: