• Proposed Amendments to Venture Issuer Disclosure Requirements
  • July 29, 2014 | Authors: Jacques Du Plessis; Jonathan O'Connor
  • Law Firm: Goodmans LLP - Vancouver - Office
  • Earlier this year, the Canadian Securities Administrators (CSA) published for comment proposed amendments (the “Proposed Amendments”) to: (i) National Instrument 51-102 Continuous Disclosure Obligations (“NI 51-102”), (ii) National Instrument 41-101 General Prospectus Requirements (“NI 41-101”), and (iii) National Instrument 52-110 Audit Committees (“NI 52-110”). The Proposed Amendments affect venture issuers with securities listed on venture exchanges such as the TSX Venture Exchange and the Canadian Securities Exchange (“Venture Issuers”). They are intended to focus disclosure on information that reflects the needs and expectations of Venture Issuer investors and eliminate disclosure that is less valuable. The Proposed Amendments are also intended to: (i) streamline disclosure requirements so that companies can focus on the operation and growth of their business, and (ii) enhance substantive governance requirements.