COVID Response – Canada Regulators – Canadian Securities Administrators (CSA) Canada Blanket Filing Relief

May 1, 2020Canadian securities regulators provided temporary blanket relief to public companies with delayed annual meetings due to COVID-19 as filings related to annual meetings.

Delayed Compliance
Giving public companies until December 31, 2020 to file executive compensation disclosure. Relief from requirements to send annual or interim financial statements and management’s discussion and analysis (MD&A) to investors within some time periods. More flexibility to prepare, file and mail disclosure documents, and need to continue to send notices.

Implementation
Implementing relief through local blanket orders substantially harmonized in country. If need to use, companies should first issue a news release disclosing that intend to do so and should consult the blanket orders for specific conditions for filing, notice relief. CSA ALB, OSC, CSA OSC, issued identical blanket orders and rule detailing conditions. CSA OSC FAQ explained in detail all orders, main frequently asked question replies. Issuers and counsel encouraged to contact their principal regulator with any questions.

For more information, visit www.nssc.novascotia.ca



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