Members of the Canadian Securities Administrators (CSA) are announcing exemptions from certain filing requirements to address the brief period when the System for Electronic Document Analysis and Retrieval (SEDAR) will be switched to a new centralized system, SEDAR+.
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The recently published International Sustainability Standards Board (ISSB) standards - in particular, IFRS S2 Climate-Related Disclosures (IFRS S2) - set a rigorous and prescriptive baseline for climate-related disclosures around the world. Canadian issuers will want to keep close watch as regulators work to adopt "made-in-Canada" disclosure rules based on the new ISSB standards.
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The IFRS Foundation’s International Sustainability Standards Board (ISSB) will take over responsibility for monitoring progress of companies’ climate-related disclosures from the Financial Stability Board’s (FSB) Task Force on Climate-related Financial Disclosures (TCFD) as of next year, following a request from the FSB.
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For publicly listed companies in Canada, there may come a day when you receive a request for information from a provincial securities commission in connection with a securities investigation. Receiving such a request can be unsettling, but the manner in which you respond will set the tone and trajectory of your subsequent dealings with the commission.
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The Canadian Securities Administrators (CSA) welcomes the publication on June 26, 2023 of the International Sustainability Standards Board (ISSB)’s first two sustainability disclosure standards: IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures (together, the ISSB Standards).
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The concept of ESG (environmental, social and corporate governance) has been in choppy waters this year with political resistance against ethical investing, as well as criticism of ESG as being virtue-signalling or supposedly distracting from financial returns. This begs the question, how are boards currently thinking about ESG?
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The IFRS Foundation has today published an updated version of its educational material developed to help companies determine how to consider climate-related matters when preparing their financial statements applying IFRS Accounting Standards.
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The listed issuer exemption is a prospectus exemption that allows reporting issuers with equity securities listed on a Canadian stock exchange to raise capital by filing a Form 45-106F19 Listed Issuer Financing Document (offering document) and distribute freely tradeable equity securities in reliance on the issuer’s continuous disclosure record, subject to certain conditions outlined in NI 45-106.
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