CSA Propose Streamlined Venture Issuer Disclosure

The Canadian Securities Administrators today published for comment proposals intended to "streamline and tailor venture issuer disclosure" to reflect the expectations of investors and to improve the manageability of disclosure requirements for issuers.

The CSA's proposals follow a consultation last year by various provincial regulators on tailoring venture issuer regulation, and would replace the governance, disclosure and certification obligations of venture issuers currently found in NI 51-102 Continuous Disclosure Obligations, NI 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings, NI 52-110 Audit Committees and NI 58-101 Disclosure of Corporate Governance Practices with a new National Instrument 51-103 Ongoing Governance and Disclosure Requirements for Venture Issuers.