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ARTICLE · 20 OCTOBER 2011

Canadian Securities Regulators Propose New Regime For Venture Issuers

The Canadian Securities Administrators have published a Notice and Request for Comment in relation to Proposed National Instrument 51-103 Ongoing Governance And Disclosure Requirements for Venture Issuers (the "Proposed Instrument") and accompanying amendments to other instruments.

CanadaFinance and Banking

Introduction

The Canadian Securities Administrators have published a Notice and Request for Comment in relation to Proposed National Instrument 51-103 Ongoing Governance And Disclosure Requirements for Venture Issuers (the "Proposed Instrument") and accompanying amendments to other instruments. These proposals are designed to introduce a new regulatory regime for venture issuers¹ intended to streamline and tailor issuer disclosure to reflect the needs and expectations of venture issuer investors and to make the disclosure requirements for venture issuers more suitable and manageable for issuers at this stage of development. The deadline for submitting comments to the Canadian Securities Administrators relating to the Proposed Instrument is October 27, 2011.

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