Ten Quick Tips On Minimizing Exposure To Secondary Market Civil Liability

With a secondary market civil liability regime having come into force in Alberta, Manitoba and Ontario, and Saskatchewan and Newfoundland and Labrador moving ahead with legislation, it is a good time for issuers who have not recently done so to think about their disclosure policies and procedures. The following are 10 tips that might help issuers avoid exposure to a hefty damage award:

1. Ensure that disclosure policies and procedures are in place, and that everyone involved in the creation and release of information to the public is aware of and follows the policies and procedures. The procedures should capture all material information and make sure that it is accurate. The effectiveness of the policies and procedures should be evaluated from time to time based on the experience of those involved.