News Release
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Ontario Securities
Commission
20 Queen St. W.
Box 55, Suite 1900
Toronto, ON M5H 3S8
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Commission des valeurs mobilières de l'Ontario
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FOR IMMEDIATE RELEASE
February 27, 2008 |
OSC Releases Key Findings of Environmental Reporting Review
TORONTO - The Ontario Securities Commission (OSC) today published OSC Staff Notice 51-716 Environmental Reporting following a targeted review of compliance with environmental reporting requirements by reporting issuers.
“Over the past several years, we have increasingly focused on the adequacy of disclosure of environmental matters in continuous disclosure documents,” said Corporate Finance Director Margo Paul. "It is important that the information is meaningful so that investors can make informed investment decisions."
The Notice summarizes key findings following a review of 35 Ontario-based reporting issuers. Overall, staff identified several areas of deficient disclosure. In particular, staff have identified environmental liabilities and risks as areas of concern.
The Notice provides guidance that reporting issuers should consider when discussing environmental matters in their continuous disclosure documents to ensure their disclosure is in compliance with securities legislation. Staff will continue to monitor the disclosure of environmental matters as part of ongoing continuous disclosure reviews.
OSC Staff Notice 51-716 Environmental Reporting is available in the Rules, Policies & Notices section of the OSC website www.osc.gov.on.ca.
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