CSA Securities

Calgary - The Canadian Securities Administrators (CSA) announced today the adoption of National Policy 12-202 Revocation of a Compliance-related Cease Trade Order. The CSA policy harmonizes and streamlines the process followed by applicants seeking to revoke or vary a cease trade order.

The policy applies in all jurisdictions and outlines what issuers, security-holders or other parties must do to apply for a partial or full revocation of a cease trade order. A securities regulator may issue a cease trade order to halt trading securities for a predetermined or an indefinite time based on a failure to comply with filing or disclosure requirements.

“This policy addresses the confusion market participants experienced in having to deal with different revocation policies and practices in various jurisdictions,” said Jean St-Gelais, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers (Québec). “Now issuers across Canada have a more comprehensive guidance to follow when applying for a partial or full revocation of a cease trade order”.

National Policy 12-202 Revocation of a Compliance-related Cease Trade Order is available on various CSA members’ websites.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

— 30 —

For more information:

CSA member name

Point of contact

Phone number

Alberta Securities Commission

Mark Dickey

403 297-4481

Autorité des marchés financiers

Frédéric Alberro

514 940-2176

British Columbia Securities Commission

Andrew Poon 

604 899-6880

Financial Services Regulation Division, Newfoundland and Labrador

Doug Connolly

709 729-2594

Manitoba Securities Commission

Ainsley Cunningham

204 945-4733

New Brunswick Securities Commission

Jane Gillies

506 643-7745

Nova Scotia Securities Commission

Chris Pottie

902 424-5393

Ontario Securities Commission

Laurie Gillett

416 595-8913

Prince Edward Island Office of the Attorney General

Marc Gallant

902 368-4552

Saskatchewan Financial Service Commission

Barbara Shourounis

306 787-5842

Securities Registry, Northwest Territories

Donald MacDougall

867 920-8984

Yukon Securities Registry

Bette Boyd

867 667-5225