For Immediate Release
May 29, 2020
Canadian securities regulators remind issuers of importance of disclosure in financial reporting
Toronto – Given the significant impacts that the
COVID-19 pandemic continues to have on Canadian public companies, the Canadian
Securities Administrators (CSA) is reminding reporting issuers of the
importance of disclosing high quality financial information to investors.
“It
is extremely important that reporting issuers provide investors with meaningful
and transparent financial information about how the global pandemic is
impacting their financial situation,” said Louis Morisset, CSA Chair and
President and CEO of the Autorité des marchés financiers. “It is critical
investors have the necessary information they need in order to make informed
investing decisions.”
The CSA encourages issuers to visit the CSA
COVID-19 Information Hub for further guidance and information, including COVID-19:
Continuous Disclosure Obligations and Considerations for Issuers that
discusses a number of important issues, and to consider this information when
preparing financial reports and other disclosure documents.
Earlier today, the International
Organization of Securities Commissions (IOSCO) issued IOSCO
Statement on Importance of Disclosure about COVID-19 to
highlight financial reporting issues that should be considered by reporting
issuers in order to provide investors with relevant and reliable information in
their financial reports and related disclosure documents. The CSA supports the
IOSCO Statement.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
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For more information:
Kristen Rose |
Brian Kladko |
Hilary McMeekin Alberta Securities Commission 403-592-8186 |
Sylvain Théberge |
Jason (Jay) Booth |
Sara Wilson |
David C. Harrison |
Steve Dowling |
Renée Dyer |
Rhonda Horte |
Jeff Mason |
Tom Hall |
Shannon McMillan |
|