• National Instrument 71-102 - Continuous Disclosure and Other Exemptions Relating to Foreign Issuers
  • July 8, 2005 | Author: Barbara J. Hendrickson
  • Law Firm: McMillan LLP - Toronto Office
  • In March of 2004, the Canadian Securities Administrators (''CSA'') introduced a rule which sets out exemptions from continuous disclosure (''CD'') and other requirements for Foreign Reporting Issuers (as defined below). National Instrument 71-102, ''Continuous Disclosure and Other Exemptions Relating to Foreign Issuers'' (''NI 71-102''), and its Companion Policy 71-102CP. NI 71-102 contain statutory exemptions from the requirements of Canadian securities legislation for Foreign Reporting Issuers on the condition that they comply with the requirements of their home jurisdictions in a number of areas, including news releases, material change reporting, financial statements, AIF and MD&A, proxy and proxy solicitation, early warning, insider reporting and communication with beneficial owners of securities requirements.