CSA

Toronto – The Canadian Securities Administrators (CSA) today published two blanket orders that provide investment funds and non-investment fund issuers with temporary relief from certain regulatory filings and delivery obligations, as a result of the COVID-19 pandemic. The conditions of the relief are substantially the same as the temporary relief announced on March 23 (prior relief), but the relief is only applicable to issuers and investment funds with filing deadlines in the periods described below.

For investment funds, the blanket relief provides a 60-day extension for certain filing, delivery and prospectus renewal obligations normally required to be made during the period from June 2, 2020 to September 30, 2020.

For non-investment fund issuers, the blanket relief provides a 45-day extension for certain filing, delivery and base shelf prospectus renewal obligations normally due or required to be made during the period from June 2, 2020 to August 31, 2020.

Investment funds and non-investment fund issuers that have already used the prior relief to extend any filing, delivery and prospectus renewal deadline occurring on or before June 1, 2020 cannot use this relief to further extend the deadline.

Additionally, to rely on the relief, non-investment fund issuers must issue a news release before the required filing deadline and comply with other conditions. Issuers and their counsel are encouraged to review the respective orders to ensure compliance with these conditions.

CSA members will consider applications for a management cease trade order (MCTO) by non-investment fund issuers that took advantage of the prior relief and are unable to comply with their filing or delivery obligations by their extended deadline, but anticipate being able to comply shortly thereafter. CSA members will likely reduce the usual period of an MCTO to take into account the 45-day extension. 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.

The CSA is implementing the relief through local blanket orders that are substantially harmonized across the country. Market participants can view these orders on CSA members’ websites and are encouraged to contact their principal regulator with any questions.

Staff contacts for investment funds and non-investment fund issuers are 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.

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For inquiries about filings for issuers, other than investment funds:

Michael Bennett
Senior Legal Counsel, Corporate Finance
Ontario Securities Commission
416-593-8079
mbennett@osc.gov.on.ca

Matthew Au
Senior Accountant, Corporate Finance
Ontario Securities Commission
416-593-8132
mau@osc.gov.on.ca

Jan Mazur 
Team Lead, Statutory Filings
Alberta Securities Commission
403-297-2091
jan.mazur@asc.ca

Tim Robson
Manager, Legal, Corporate Finance
Alberta Securities Commission
403-355-6297
timothy.robson@asc.ca

Martin Latulippe
Director, Continuous Disclosure
Autorité des marchés financiers
514-395-0337 ext. 4331
martin.latulippe@lautorite.qc.ca

Jody-Ann Edman
Manager, Financial Reporting
British Columbia Securities Commission
604-899-6698
jedman@bcsc.bc.ca

Heather Kuchuran, CPA, CA, CFA
Deputy Director, Corporate Finance
Financial and Consumer Affairs
Authority of Saskatchewan
306-787-1009
heather.kuchuran@gov.sk.ca

Wayne Bridgeman, CPA, CGA
Deputy Director, Corporate Finance
Manitoba Securities Commission
204-945-4905
wayne.bridgeman@gov.mb.ca

Abel Lazarus
Director, Corporate Finance
Nova Scotia Securities Commission
902-424-6859
abel.lazarus@novascotia.ca

Rebecca Atkinson
Senior Legal Counsel
Financial and Consumer Services
Commission, New Brunswick
506-658-3038
rebecca.atkinson@fcnb.ca

For inquiries about filings for investment funds:

Ritu D. Kalra CPA, CA, CFA
Senior Accountant, Investment Funds and Structured Products Branch
Ontario Securities Commission
416-593-8063
rkalra@osc.gov.on.ca

Irene Lee
Senior Legal Counsel, Investment Funds and
Structured Products Branch
Ontario Securities Commission
416-593-3668
ilee@osc.gov.on.ca

Louis-Martin Ouellet
Acting Director, Investment Funds Oversight
Autorité des marchés financiers
514-395-0337 ext. 4496
louis-martin.ouellet@lautorite.qc.ca

Jason Alcorn
Senior Legal Counsel and Special Advisor to the Executive Director
Financial and Consumer Services Commission, New Brunswick
506-643-7857
jason.alcorn@fcnb.ca            

Heather Kuchuran, CPA, CA, CFA
Deputy Director, Corporate Finance
Financial and Consumer Affairs
Authority of Saskatchewan
306-787-1009
heather.kuchuran@gov.sk.ca

Chad Conrad
Legal Counsel, Corporate Finance
Alberta Securities Commission
403-297-4295
chad.conrad@asc.ca

Donna Gouthro
Senior Securities Analyst
Nova Scotia Securities Commission
902-424-7077
donna.gouthro@novascotia.ca

Patrick Weeks
Corporate Finance Analyst
Manitoba Securities Commission
204-945-3326
Patrick.weeks@gov.mb.ca

For inquiries about filings for registrants:

Anita Chung, CPA, CA, CFE
Registration Accountant, Compliance & Registrant Regulation
Ontario Securities Commission
416-593-8131
achung@osc.gov.on.ca

Mark French
Manager, Registration & Dealer Compliance
British Columbia Securities Commission
604-899-6856
mfrench@bcsc.bc.ca

Wendy Morgan
Deputy Director, Securities
Financial and Consumer Services Commission, New Brunswick
506-643-7202
wendy.morgan@fcnb.ca

Liz Kutarna, Deputy Director, Capital Markets Securities Division
Financial and Consumer Affairs Authority
306-787-5871
liz.kutarna@gov.sk.ca    

Paula White
Deputy Director, Compliance and Oversight Manitoba Securities Commission
204-945-5195
paula.white@gov.mb.ca

Sue Henderson Deputy Director, Registrations Manitoba Securities Commission
204-945-1600
sue.henderson@gov.mb.ca

Ashley Lee
Regulatory Analyst, Registrant Regulation Alberta Securities Commission
403-297-4009
ashley.Lee@asc.ca

Brian Murphy
Manager, Registration
Nova Scotia Securities Commission
902-424-4592
brian.murphy@novascotia.ca

For inquiries about filings for regulated entities:

Christopher Byers
Senior Legal Counsel, Market Regulation
Ontario Securities Commission
416-593-2350
cbyers@osc.gov.on.ca

Claude Gatien
Advisor, Strategic Initiatives
Autorité des marchés financiers
514-395-0337 ext, 4341
claude.gatien@lautorite.qc.ca

Doug MacKay
Manager, Market and SRO Oversight
British Columbia Securities Commission
604-899-6609
dmackay@bcsc.bc.ca

Paula White
Deputy Director, Compliance and Oversight Manitoba Securities Commission
204-945-5195
paula.white@gov.mb.ca

Sonne Udemgba
Deputy Director Legal, Securities Division
Financial and Consumer Affairs Authority
306-787-5879
sonne.udemgba@gov.sk.ca

Paula Kaner
Manager, Market Oversight
Alberta Securities Commission
403-355-6290
paula.kaner@asc.ca

For media inquiries, please refer to the list of provincial and territorial representatives below or contact us at media@acvm-csa.ca.

For more information:

CSA member name

Point of contact

Phone number

Autorité des marchés financiers

Sylvain Théberge

514-940-2176

Alberta Securities Commission

Hilary McMeekin

403-592-8186

British Columbia Securities Commission

Brian Kladko

604-899-6713

Financial and Consumer Affairs, Authority of Saskatchewan

Shannon McMillan

306-798-4160

Financial and Consumer Services Commission, New Brunswick

Sara Wilson

506-643-7045

Government of Prince Edward Island, Superintendent of Securities

Steve Dowling

902-368-4550

Manitoba Securities Commission

Jason (Jay) Booth

204-945-1660

Nova Scotia Securities Commission

David Harrison

902-424-8586

Nunavut Securities Office

Jeff Mason

867-975-6591

Office of the Superintendent of Securities, Newfoundland and Labrador

Renée Dyer

709-729-4909

Office of the Superintendent of Securities, Northwest Territories

Tom Hall

867-767-9305

Office of the Yukon, Superintendent of Securities

Rhonda Horte

867-667-5466

Ontario Securities Commission

Kristen Rose

416-593-2336