The Canadian Securities Administrators (CSA) released a notice on May 29, 2020 reminding reporting issuers of the importance of disclosing high quality financial information to investors. The CSA encourages issuers to visit the CSA COVID-19 Information Hub for further guidance and information, including COVID-19: Continuous Disclosure Obligations and Considerations for Issuers that discusses a number of important issues, and to consider this information when preparing financial reports and other disclosure documents.
The CSA notice also refers to the International Organization of Securities Commissions (IOSCO) issued IOSCO Statement on Importance of Disclosure about COVID-19 to highlight financial reporting issues that should be considered by reporting issuers in order to provide investors with relevant and reliable information in their financial reports and related disclosure documents. The CSA and the Ontario Securities Commission (OSC) supports the IOSCO Statement.
For more information, please call Barbara Hendrickson at BAX Securities Law (647) 403-4606. This publication is not intended to constitute legal advice. No one should act on it or refrain from acting on it without consulting with a lawyer. BAX does not warrant or guarantee the accuracy or currency or completeness of the publication. No part of this publication may be reproduced without the prior written permission of BAX Securities Law.