IR Leader
December 09, 2025

Top Stories

CSA Seeks Participation in Retail Committee as Part of Real-Time Market Data Access Initiative

The Canadian Securities Administrators (CSA) is inviting interested parties to apply to participate in a new CSA initiative to facilitate access to consolidated real-time market data (RTMD) by retail investors and retail investment advisers.

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Canadian Securities Regulators Publish Summary of 2025 Systemic Risk Survey Results

The Canadian Securities Administrators (CSA) today published a summary of the results from its fourth annual systemic risk survey. The results of this survey provide the CSA with important information on market participants’ views about the stability of the Canadian financial system.

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SEC Chair Plans to Overhaul Disclosure Requirements to Revitalize Capital Markets

SEC Chair Paul Atkins outlined a plan to revitalize U.S. capital markets by overhauling the disclosure regime. He argued that decades of "regulatory creep" have undermined competitiveness and limited opportunities for everyday investors.

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Supreme Court Provides Guidance on Meaning of "Material Change" for Securities Disclosure

Proper disclosure has been recognized by the Supreme Court of Canada as "the heart and soul of the securities regulations across Canada". Issuers are required to disclose two kinds of information to investors: "material facts" (which are to be disclosed periodically) and "material changes" (which are to be disclosed "forthwith"). But determining whether a particular event is a "material fact" or a "material change" is nuanced—in fact, it has been described as "perhaps the most difficult area of securities law". The inconsistent approaches courts have taken in trying to delineate between the two has resulted in uncertainty for both investors and issuers.

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Bill C-251: Proposed Amendments to Canada’s Anti-Forced Labour Regime

Bill C-251 (the Bill), a private member’s bill proposed by Member of Parliament Simon-Pierre Savard-Tremblay of the Bloc Québécois, seeks to expand Canada’s anti-forced labour and child labour legislative framework by amending the Customs Act and the Customs Tariff to target goods mined, manufactured or produced wholly or in part by forced labour or child labour.

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CSA Launches New Tool to Make Consultation Process Easier and More Efficient

The Canadian Securities Administrators (CSA) has launched a new online tool making it easier for stakeholders to submit their comments on regulatory policies and rules. Canadians, including capital market participants, industry, investors, and other stakeholders will now be able to provide feedback directly through the CSA tool as opposed to submitting it to individual jurisdictions.

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Over 80% of Investors Expect to Increase Allocations to Sustainable Investments: Morgan Stanley Survey

More than four out of five institutional investors expect the proportion of their investments allocated to sustainable funds to increase over the next two years, citing strong investment performance as the top driver, according to a new survey released by Morgan Stanley, which also found that the vast majority of both asset managers and asset owners increasingly view sustainable investment options as a key driver in awarding investment mandates.

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Making the Shift from the C-Suite to the Boardroom

Board service requires a redefined role, a fresh mindset and a reorientation of relationships.

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CSA Proposes Amendments to Non-GAAP Disclosure Requirements in Response to IFRS 18

On November 13, 2025, the Canadian Securities Administrators (CSA) published proposed amendments to National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure (NI 52-112) and changes to related instruments and policies (collectively, the Proposed Amendments) for comment. The Proposed Amendments are intended to address the impact of the International Financial Reporting Standard 18 Presentation and Disclosure in Financial Statements (IFRS 18) on existing disclosure requirements under NI 52-112.

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