The Value of CIRI Membership - Advocacy

CIRI members identify four top reasons they value their membership. One of the top reasons is staying abreast of regulatory changes through CIRI's advocacy initiatives.

On September 5, the Canadian Securities Administrators (CSA) published Instrument 51-102 Continuous Disclosure Obligations and Changes to Certain Policies Related to the Business Acquisition Report Requirements. These proposals relate to a reporting issuer that is not an investment fund that is required to file a business acquisition report (BAR) after completing a significant acquisition.

On December 4, CIRI made a submission to the CSA supporting the proposed amendments to incorporate a two-trigger test regime and increase the significance test threshold from 20% to 30%. While these are all positive steps to reducing the regulatory burden on issuers, CIRI questioned the value of BARs and whether the threshold could be increased further. 

To view the complete submission, click here.