Securities Law & Instruments

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CSA Staff Notice 51-351 Continuous Disclosure Review Program Activities
for the fiscal year ended March 31, 2017



July 27, 2017

The Canadian Securities Administrators (CSA) has announced that, while we continue to have a rigorous continuous disclosure review program (CD Review Program), a CSA Staff Notice detailing the results of the program will be published on a biennial instead of an annual basis. As a result, the next CSA Staff Notice will be for the fiscal year ended March 31, 2018.

In past years, the CSA Staff Notice summarized the results of the CD Review Program for the most recently completed fiscal year, including information about the areas where common deficiencies were noted, with relevant consideration and examples. For further details on the CD Review Program, see CSA Staff Notice 51-312 (revised) Harmonized Continuous Disclosure Review Program.

The CSA notes that the disclosure considerations published in the prior year are still ver relevant, and encourage reporting issuers in Canada to continue applying the guidance in CSA Staff Notice 51-346 -- Continuous Disclosure Review Program Activities for the fiscal year ended March 31, 2016.

Also, reporting issuers are invited to refer to ongoing CSA initiatives regarding CD issue-oriented reviews and related CSA Staff Notices.

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 more information, please refer your questions to any of the following:

Marie-France Bourret
Allan Lim
Acting Manager, Corporate Finance
Manager
Ontario Securities Commission
British Columbia Securities Commission
416-593-8083
604-899-6780
<<mbourret@osc.gov.on.ca>>
Toll-free 800-373-6393
<<alim@bcsc.bc.ca>>
 
Christine Krikorian
Sabina Chow
Senior Accountant, Corporate Finance
Senior Securities Analyst
Ontario Securities Commission
British Columbia Securities Commission
416-593-2313
604-899-6797
<<ckrikorian@osc.gov.on.ca>>
Toll-free 800-373-6393
<<schow@bcsc.bc.ca>>
 
Catalina Miranda
Accountant, Corporate Finance
Ontario Securities Commission
416-204-8965
<<cmiranda@osc.gov.on.ca>>
 
Cheryl McGillivray
Tony Herdzik
Manager, Corporate Finance
Deputy Director, Corporate Finance
Alberta Securities Commission
Financial and Consumer Affairs Authority of Saskatchewan
403-297-3307
306-787-5849
<<cheryl.mcgillivray@asc.ca>>
<<tony.herdzik@gov.sk.ca>>
 
Patrick Weeks
Nadine Gamelin
Analyst, Corporate Finance
Senior Analyst, Continuous Disclosure
Manitoba Securities Commission
Autorité des marchés financiers
204-945-3326
514-395-0337, ext. 4417
<<patrick.weeks@gov.mb.ca>>
Toll-free: 1-877-525-0337, ext. 4417
<<nadine.gamelin@lautorite.qc.ca>>
 
To-Linh Huynh
Hélène Marcil
Senior Analyst
Chief Accountant and Director, Financial Information
Financial and Consumer Services Commission (New Brunswick)
Autorité des marchés financiers
506-643-7856
514-395-0337, ext. 4291
<<To-Linh.Huynh@fcnb.ca>>
Toll-free: 1-877-525-0337, ext. 4291
<<helene.marcil@lautorite.qc.ca>>
 
John Paixao
Junjie (Jack) Jiang
Compliance Officer
Securities Analyst, Corporate Finance
Financial and Consumer Services Commission (New Brunswick)
Nova Scotia Securities Commission
506-658-3116
902-424-7059
<<John.Paixao@fcnb.ca>>
<<Jack.jiang@novascotia.ca>>