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ARTICLE · 11 MARCH 2008

New Canadian Disclosure Rules In 2008 For Earnings Guidance And Other Forward-Looking Information

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Canadian securities regulators recently adopted new disclosure rules for earnings guidance and other forward-looking information.

CanadaFinance and Banking
Leslie McCallum
Leslie McCallum
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Canadian securities regulators recently adopted new disclosure rules for earnings guidance and other forward-looking information. The new rules, which are effective for 2008, appear in National Instrument 51-102 and are similar to, but somewhat more onerous than, the former requirements of National Policy 48.

Overview Of The New Regime

Key definitions under the new disclosure requirements are as follows:

  • "Future-oriented financial information" (FOFI) is information about prospective results of operations, financial position or cash flows presented in the form of a historical balance sheet, income statement or statement of cash flows.

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