CSA Securities

Toronto – The Canadian Securities Administrators (CSA) announced today they are seeking comments on revised National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings.

The proposed instrument and related materials contain significant amendments in response to input received during the 2007 comment period. These amendments are consistent with those communicated to market participants in CSA Staff Notice 52-319 issued in November 2007.

Some proposed amendments to NI 52-109 are:

  • The chief executive officer and the chief financial officer of a venture issuer will no longer be required to certify that they have designed and evaluated the effectiveness of disclosure controls and procedures and internal control over financial reporting.
  • Non-venture issuers will now be required to use a control framework for the design of internal control over financial reporting.
  • Guidance for certifying officers will be expanded.

The instrument is expected to come into effect on December 15, 2008 and will apply to issuers’ financial years ending on or after that date. The proposed rule, related companion policy and forms, and CSA notice and request for comments are available on CSA members’ websites. The comment period is open until June 17, 2008.

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

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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

Nicholas A. Pittas

902 424-6859

Nunavut Securities Registry

Bruce MacAdam

867 975-6586

Ontario Securities Commission

Laurie Gillett

416 595-8913

Prince Edward Island, Office of the Attorney General

Marc Gallant

902 368-4552

Saskatchewan Financial Services Commission

Barbara Shourounis

306 787-5842

Securities Registry, Northwest Territories

Donald MacDougall

867 920-8984

Yukon Securities Registry

Fred Pretorius

867 667-5225

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