14 Mar Continuous Disclosure
What Is Continuous Disclosure?
In Canada, many public companies are required to disclose specific information about their business and financial status on a regular basis. Amendments are currently being implemented to ensure more consistent application of disclosure requirements and other securities legislation across Canadian provinces and exchanges.
Canada’s National Instrument 51-102: Continuous Disclosure Obligations outlines requirements for disclosure documents, including financial statements, proxies, information circulars, material change reports, management’s discussion and analysis (MD&A), annual information forms (AIFs) and business acquisition reports (BARs).
Public companies and mutual funds are required to provide data that meets current Canadian standards for accounting practices and auditing standards, as described in National Instrument 52-107 Acceptable Accounting Principles, Auditing Standards and Reporting Currency.
For companies other than investment funds, continuous disclosures must be certified in accordance with National Instrument 52-109Certification of Disclosure in Issuers’ Annual and Interim Filings.
Continuous disclosure information is submitted via SEDAR (System for Electronic Document Analysis and Retrieval), Canada’s electronic filing system for disclosures.
Foreign issuers are exempt from some continuous disclosure requirements, as described in National Instrument 71-102, Continuous Disclosure and Other Exemptions Relating to Foreign Issuers.« Back to Glossary Index