IR Leader
April 24, 2018
Advocacy Update on Consultation Paper 51-404: Considerations for Reducing Regulatory Burden for Issuers

You may recall that the Canadian Securities Administrators (CSA) published a request for comments on April 6, 2017 to which CIRI responded. The CSA issued an update on March 27, 2018 indicating that they will initiate the following six CSA policy projects as a result of the feedback received from CIRI and others:

Prospectus Requirements:
1.     Considering potential alternative prospectus model
2.     Facilitating at-the-market offerings
3.     Revisiting the primary business requirements

Continuous Disclosure Requirements:
1.     Removing or modifying the criteria to file a business acquisition report
2.     Revisiting certain continuous disclosure requirements

Other Securities Regulation Requirements:
1.     Enhancing electronic delivery of documents

While CIRI was supportive of semi-annual reporting, the majority of commenters were not. As such, semi-annual reporting has not been included in the policy projects.

CIRI will monitor developments in these projects, engage with the regulators as appropriate and inform you of progress.

CSA Outlines Disclosure Expectations for Real Estate Reporting Issuers

For those of you in the Real Estate sector, the CSA issued a Staff Notice on disclosure expectations for real estate reporting issuers. The Staff Notice is based on a review that found the quality of disclosure pertaining to distributions and non-GAAP financial measures in the real estate industry needs improvement.

Should you have any comments and/or questions pertaining to our advocacy initiatives, please contact Yvette Lokker directly.

| Complete Article |

CIRI is pleased to inform you that new job opportunities are available in British Columbia, Alberta and Ontario.

CIRI members can click here to view the postings. You must be logged in as this is a 'Members Only' benefit.

Are you looking to create or fill a position in your company or for a client? Here's an effective way to reach CIRI members who are looking for new challenges in investor relations.

Members may submit a job posting free of charge. Non-members may submit a job posting for $150+HST.

To submit a job posting, contact Jane Maciel at or (416) 364-8200.

| Complete Article |

Top Stories

Canadian Regulators Put Proxy 'Vote Buying' in the Crosshairs

Securities regulators are taking a hard look at whether companies should be allowed to pay investment dealers for securing favourable shareholder votes.

| View Original |

Disclosure Expectations Outlined for Real Estate Reporting Issuers

Canada's securities regulators have published a staff notice discussing the quality of disclosure by real estate reporting issuers, focusing on distribution disclosure and non-GAAP financial measures.

| View Original |

Canadian Securities Regulators Outline Disclosure Expectations for Real Estate Reporting Issuers

The Canadian Securities Administrators (CSA) today published CSA Staff Notice 52-329 Distribution Disclosures and Non-GAAP Financial Measures in the Real Estate Industry. The notice details findings of a recent review and provides additional guidance on disclosure expectations relating to distributions and non-GAAP financial measures for real estate reporting issuers.

| View Original |

Why Continuous Professional Development is Key for IROs

Continuous professional development is essential to keep up to speed with the skills IROs need in a fast-changing market environment – and the leading IR associations are furnishing the essential tools and certifications they need.

| View Original |

CSA Staff Notice 61-303 and Request for Comment Soliciting Dealer Arrangements

This notice outlines certain issues that staff of the Canadian Securities Administrators (CSA) have identified with respect to the use of soliciting dealer arrangements. Staff are publishing this notice for a 60-day comment period to better understand these arrangements to aid the CSA in assessing whether any additional guidance or rules in respect of those arrangements would be appropriate. In addition to any general comments, we also invite comments on the specific questions set out at the end of the notice.

| View Original |

CSA Announce Policy Projects to Reduce Regulatory Burden for Public Companies

The Canadian Securities Administrators (CSA) recently published Staff Notice 51-353 – Update on CSA Consultations Paper 51-404 Considerations for Reducing Regulatory Burden for Non-Investment Fund Reporting Issuers (Notice), which sets out a number of upcoming CSA policy projects intended to reduce the regulatory burden associated with capital raising in public markets (i.e., prospectus-related requirements) and the ongoing costs (i.e., continuous disclosure requirements) applicable to non-investment fund reporting issuers.

| View Original |

Canadian Small Businesses Leading the Way in Sustainability

New research from the University of Waterloo shows that Canadian small businesses are important- and often overlooked- drivers of sustainability and the green economy.

| View Original |