Continuous Disclosure: What’s New for 2011?

OVERVIEW

Each 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 major change that will affect continuous disclosure obligations for Canadian reporting issuers this year is the changeover to International Financial Reporting Standards (IFRS) for financial years commencing on or after January 1, 2011. This change has several indirect effects, such as on the CEO and