Canadian securities regulators remind issuers of importance of disclosure in financial reporting

TORONTO, May 29, 2020 /CNW/ - 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.

For Investor inquiries, please refer to your respective securities regulator. You can contact them here.

For media inquiries, please refer to the list of provincial and territorial representatives below or contact us at [email protected].

SOURCE Canadian Securities Administrators

Kristen Rose, Ontario Securities Commission, 416-593-2336; Hilary McMeekin, Alberta Securities Commission, 403-592-8186; Sylvain Théberge, Autorité des marchés financiers, 514-940-2176; Jason (Jay) Booth, Manitoba Securities Commission; 204-945-1660; Brian Kladko, British Columbia Securities Commission, 604-899-6713; Steve Dowling, Office of the Superintendent of Securities, Prince Edward Island, 902 368-4550; Sara Wilson, Financial and Consumer Services, New Brunswick, 506-643-7045; David Harrison, Nova Scotia Securities Commission, 902-424-8586; Renée Dyer, Office of the Superintendent of Securities, Newfoundland and Labrador, 709-729-4909; Rhonda Horte, Office of the Yukon Superintendent of Securities, 867-667-5466; Jeff Mason, Nunavut Securities Office, 867-975-6591; Tom Hall, Office of the Superintendent of Securities, Northwest Territories, 867-767-9305; Shannon McMillan, Financial and Consumer Affairs, Authority of Saskatchewan, 306-798-4160