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ARTICLE · 20 OCTOBER 2023

Good Things Come To Those Who Wait: CSA Postpones Continuous Disclosure Reform To Dovetail With Modernized Delivery

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Reporting issuers eager to consolidate their financial statements, Management's Discussion & Analysis (MD&A) and Annual Information Form (AIF) into a single document have longer to wait.

CanadaFinance and Banking
Marie-Christine Valois
Marie-Christine Valois
Paul Blyschak
Paul Blyschak
Karen Yao
Karen Yao
Marco Maduri
Marco Maduri
Dyna Zekaoui
Dyna Zekaoui
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Overview

Reporting issuers eager to consolidate their financial statements, Management's Discussion & Analysis (MD&A) and Annual Information Form (AIF) into a single document have longer to wait.

The continuous disclosure reforms proposed by the Canadian Securities Administrators (CSA) in May 2021 are, for now, on pause.

On October 3, 2023, the CSA announced it had postponed the implementation of the reforms, originally scheduled for publication in September 2023 and entry into effect in December 2023.

The reason is the CSA's intended parallel implementation of the continuous disclosure reforms with the modernized electronic delivery model, an initiative first announced in 2020.

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