Follow These 5 Steps For Compliant Disclosure On Social Media

Social media platforms, like Instagram, Twitter, LinkedIn, YouTube, Facebook and GooglePlus, arguably have more followers and are more closely monitored by market participants than conventional news outlets – making them an efficient and effective tool for public issuers to engage with potential customers, shareholders and other stakeholders. Recognizing this trend, the Canadian Securities Administrators (CSA) recently reviewed the social media disclosure practices of issuers. On March 9, 2017, the CSA published Staff Notice 51-348 Staff's Review of Social Media Used by Reporting Issuers summarizing its findings and expectations for reporting issuers' use of social media while meeting their disclosure obligations.