Continuous Disclosure: What’s New For 2010

Every year we are asked what has changed to the continuous disclosure requirements for Canadian public companies. The purpose of this Bulletin is to answer that question. We should, however, warn those officers of reporting issuers responsible for continuous disclosure matters that they should not just update last year's continuous disclosure documents. You should always refer to the source of the obligations to ensure that you are complying with all of the requirements. For example, changes to the circumstances of a reporting issuer could give rise to the obligation to respond to an item of required disclosure that was inapplicable last year.

The continuous disclosure rules for Canadian reporting issuers have not changed substantially for 2010 for reporting issuers whose last year end was on or after December 31, 2008. However, the Canadian Securities Administrators (the CSA) has reported on its reviews of certain continuous disclosure obligations and