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CSA Notice of National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings
15 Aug 2008
The Canadian Securities Administrators (CSA) are repealing Multilateral Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings, related Forms and Companion Policy 52-109CP and replacing them with National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings, related Forms and Companion Policy 52-109CP (the New 52-109). In conjunction with the replacement of the existing 52-109 rule, forms and companion policy, the CSA is also making consequential amendments to Form 51-102F1 Management's Discussion and Analysis.
Key features of the New 52-109, as published for comment in April 2008, include: CEOs and CFOs of venture issuers will no longer be required to certify that they have designed and evaluated the effectiveness of disclosure controls and procedures and internal control over financial reporting; an increased transition period for the scope limitation for acquisitions; required use of a control framework by non-venture issuers for the design of internal control over financial reporting; and expanded guidance for certifying officers in 52-109CP. The effective date for the New 52-109 is December 15, 2008.
CSA Notice of National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings
View Multilateral Instrument 52-109 and related documents
View National Instrument 51-102 and related documents
CSA Staff Notice 51-326 Continuous Disclosure Review Program Activities for Fiscal 2008
13 Aug 2008
This notice summarizes the results of the Canadian Securities Administrators (CSA) continuous disclosure (CD) review program of reporting issuers other than investment funds for the fiscal year ended March 31, 2008 (fiscal 2008). It also gives an overview of how the CD review program works.
CSA Staff Notice 51-326 Continuous Disclosure Review Program Activities for Fiscal 2008
IIROC Rule Review - IIROC Rules Notice - Notice of Approval - Provisions Respecting Best Execution
18 Jul 2008
This Investment Industry Regulatory Organization of Canada (IIROC) Rules Notice provides notice of the approval by the applicable securities regulatory authorities of amendments to the Universal Market Integrity Rules (UMIR) respecting best execution. The amendments, which clarify and update the best execution obligations of dealers and advisers, flow from proposals outlined in the April 20, 2007 Joint Notice on Trade-Through, Best Execution and Access to Marketplaces, issued by the CSA and Market Regulation Services Inc.
The amendments will become effective on September 12, 2008, concurrent with the effective date of comparable changes to the best execution provisions of National Instrument 23-101 Trading Rules.
IIROC Notice - Provisions Respecting Best Execution
Passport System for Registration - CSA Notice of proposed National Policy 11-204 Process for Registration in Multiple Jurisdictions, proposed amendments to Multilateral Instrument 11-102 Passport System and related proposed repeals and amendments
18 Jul 2008
The Canadian Securities Administrators (CSA) have published proposed National Policy 11-204 Process for Registration in Multiple Jurisdictions (NP 11-204) and proposed amendments to Multilateral Instrument 11-102 Passport System (MI 11-102) and its related policies. The CSA Notice also proposes to repeal National Instrument 31-101 National Registration System, its related forms and National Policy 31-201 National Registration System (NRS).
The proposed amendments to MI 11-102, published by CSA members other than the OSC, would establish a passport system for the registration of dealers and advisors and would deal with a few issues that have arisen since implementing this instrument. Proposed NP 11-204, published by all CSA members, outlines the process for registration in multiple jurisdictions and how market participants in passport jurisdictions would gain access to the Ontario Market. Passport for registration, together with the interface in proposed NP 11-204, would replace the NRS rule, forms and policy. Also, CSA is proposing some consequential and housekeeping amendments to other related policies.
CSA Notice of proposed amendments to MI 11-102, proposed NP 11-204 and related amendments and repeals
View proposed amendments to MI 11-102 and proposed NP 11-204
Proposed Recognition of the Natural Gas Exchange Inc. (NGX)
15 Jul 2008
NGX has applied to the Alberta Securities Commission for recognition as an exchange and as a clearing agency. The Commission welcomes public comment about the proposed recognition. Please provide comments, as directed in the notice, before the end of business on August 14th.
Alberta Securities Commission Notice and Request for Comment on the Proposed Recognition of NGX as an Exchange and a Clearing Agency
NGX Proposed Exchange Recognition order
NGX Proposed Clearing Agency Recognition order
CSA Staff Notice 52-321 Early adoption of International Financial Reporting Standards, use of US GAAP and reference to IFRS-IASB
27 Jun 2008
The Canadian Securities Administrators (CSA) staff have published an update to the market on CSA staff’s views on the issues addressed in CSA Concept Paper 52- 402 Possible changes to securities rules relating to International Financial Reporting Standards, published on February 13, 2008.
CSA Staff Notice 52-321 Early Adoption of International Financial Reporting Standards
View CSA Notice 52-321 and related documents
CSA Notice of Amendments to Best Execution and Related Rules in National Instruments NI 21-101 Marketplace Operation and NI 23-101 Trading Rules
20 Jun 2008
The Canadian Securities Administrators (CSA) have published amendments to the following instruments:
- National Instrument 21-101 Marketplace Operation and related Companion Policy 21-101CP ; and
- National Instrument 23-101 Trading Rules and related Companion Policy 23-101CP.
The main focus of these amendments is to clarify and update the best execution obligations of dealers and advisers. They flow from proposals outlined in the April 20, 2007 Joint Notice on Trade-Through, Best Execution and Access to Marketplaces, issued by the CSA and Market Regulation Services Inc.
The amendments will to come into force on September 12, 2008.
CSA Notice of Amendments to Best Execution and Related Rules in National Instruments NI 21-101 Marketplace Operation and NI 23-101 Trading Rules
View National Instrument 21-101 and related documents
View National Instrument 23-101 and related documents
CSA Notice of Amendments to National Instrument 81-106 Investment Fund Continuous Disclosure and Amendments to Other Related Forms
20 Jun 2008
The Alberta Securities Commission is publishing Notice of Amendments to National Instrument 81-106 -Investment Fund Continuous Disclosure and amendments to related forms and instruments. The amendments primarily serve two purposes: (1) provide guidance on fair value principles; and (2) eliminate the need for investment fund managers to change their valuation practices in order to align with new accounting measurement standards.
CSA Notice of Amendments to National Instrument 81-106 Investment Fund Continuous Disclosure and Amendments to Other Related Forms
ASC Notice of Certain Certification Requirements: Relief for Venture Issuers
23 Nov 2007
On November 23, 2007, the Alberta Securities Commission issued Order MI 52-109 Exemptive Relief, 2007 ABASC 836 (the “Order”), which exempts venture issuers that file annual and interim certificates in the forms attached to the Order from filing the annual and interim certificates prescribed by paragraphs 2.1 and 3.1 of Multilateral Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings (“MI 52-109”).
The annual and interim certificates in the forms attached to the Order do not contain representations relating to the design of disclosure controls and procedures and internal control over financial reporting or the evaluation of the effectiveness of disclosure controls and procedures. The form of certificate attached to the Order is accompanied by an explanation of how it differs from the certificates that reporting issuers other than investment funds are required to file pursuant to MI 52-109.
ASC Notice MI 52-109 Exemptive Relief, 2007 ABASC 836 Certain Certification Requirements: Relief for Venture Issuers
ASC Order Certain Certification Requirements: Relief for Venture Issuers
View Multilaterial Instrument 52-109 and related documents