Canadian securities regulators provide update on COVID-19 and potential filing delays by reporting issuers
CSA
Montréal – The Canadian Securities Administrators (CSA) encourages reporting issuers to contact their principal regulator to discuss any potential effect of the current COVID-19 outbreak on their ability to comply with their obligations under securities legislation, including filing deadlines or delivery of meeting materials.
Issuers that foresee not being able to file their annual or interim financial statements by their prescribed deadline because of the current COVID-19 outbreak should consider applying for a management cease-trade order (MCTO). Under normal circumstances, applications for an MCTO should be filed at least two weeks before the due date for the required filings, however we will work to accommodate shorter periods where necessary.
An MCTO restricts certain officers and directors from trading and may be issued by a regulator instead of a failure-to-file cease-trade order. Conditions for granting an MCTO are provided in National Policy 12-203 Management Cease Trade Orders (NP 12-203). If an MCTO is issued, the issuer must comply with alternative information guidelines as provided in NP 12-203 until the required documents are filed. MCTOs issued in these circumstances will not be considered required disclosure in future documents.
The CSA is continuing to monitor the impact of COVID-19 on Canadian capital markets and may issue further guidance in due course.
A staff contact list for issuers is included below.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co- ordinates and harmonizes regulation for the Canadian capital markets.
For industry inquiries, please refer to your respective securities regulator.
For more information:
Jody-Ann Edman | Eden Williams |
Jan Mazur | Ritu D. Kalra CPA, CA, CFA |
Martin Latulippe | Wayne Bridgeman, CPA, CGA |
Heather Kuchuran, CPA, CA, CFA | Rebecca Atkinson |
Abel Lazarus |
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For media inquiries, please refer to the list of provincial and territorial representatives below or contact us at [email protected].
For more information:
CSA member name | Point of contact | Phone number |
|---|---|---|
Autorité des marchés financiers | Sylvain Théberge | |
Alberta Securities Commission | Hilary McMeekin | |
British Columbia Securities Commission | Brian Kladko | |
Financial and Consumer Affairs, Authority of Saskatchewan | Shannon McMillan | |
Financial and Consumer Services Commission, New Brunswick | Sara Wilson | |
Government of Prince Edward Island, Superintendent of Securities | Steve Dowling | |
Manitoba Securities Commission | Jason (Jay) Booth | |
Nova Scotia Securities Commission | David Harrison | |
Nunavut Securities Office | Jeff Mason | |
Office of the Superintendent of Securities, Newfoundland and Labrador | Renée Dyer | |
Office of the Superintendent of Securities, Northwest Territories | Tom Hall | |
Office of the Yukon, Superintendent of Securities | Rhonda Horte | |
Ontario Securities Commission | Kristen Rose |