In May, CIRI submitted recommendations to the Taskforce to Review Capital Markets on the Ontario Securities Act. On July 9, the Taskforce issued their Initial Consultation Report. We are delighted to see that the Taskforce proposed a number of changes in line with our recommendations including: removing the OBO/NOBO status; allowing issuers the option to report semi-annually; adopting access equals delivery; and decreasing early warning reporting threshold from 10% to 5%. They also proposed a number of other changes that would be beneficial to issuers.
These are meaningful proposals that could have a tremendous, positive impact on the Canadian capital markets and issuers. While CIRI will be making a submission to represent the views of our members, we strongly urge your organization to make a submission as well. Let your voice be heard and, together, we can drive real change. The deadline for submission is September 7, 2020.
Should you have any comments and/or questions pertaining to this or other IR-related issues, please contact Yvette Lokker.
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