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ARTICLE · 26 APRIL 2010

Preparing for Canada's new insider reporting requirements in force April 30, 2010

Stikeman Elliott LLP
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While a narrower group of "insiders" will be required to report, the rules also include specific reporting obligations in respect of management companies, income trust issuers and those holding convertible securities.

CanadaFinance and Banking
Simon Romano
Simon Romano
Ramandeep Grewal
Ramandeep Grewal
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While a narrower group of "insiders" will be required to report, the rules also include specific reporting obligations in respect of management companies, income trust issuers and those holding convertible securities.

Effective April 30, 2010, the Canadian Securities Administrators (CSA) will be implementing a new regime for insider reporting under National Instrument 55-104 Insider Reporting Requirements and Exemptions(NI 55-104 or the Instrument). NI 55-104 will principally harmonize all requirements relating to insider reporting and most insider reporting exemptions across all provinces and territories. Generally, NI 55-104 will reduce the scope of persons required to file insider reports and expand the nature of interests that must be reported. As discussed in detail below, some of the key features of NI 55-104 include:

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