From the Regulators

Proposed rule aims to help regulators track capital raising efforts

By James Langton |

Regulators in New Brunswick are proposing new reporting requirements for issuers that operate in the province so that they can track the capital raising efforts of these firms.

The Financial and Consumer Services Commission (FCNB) is proposing that issuers with a connection to New Brunswick, whose securities are listed or quoted on certain marketplaces, be required to file with the commission within 10 days of the listing or quotation.

Currently, there are no reporting requirements for these issuers, and the FCNB says that these proposed requirements will allow it to "better monitor the extent of capital raising activities by these issuers."

Comments on proposed Local Rule 51-504 New Brunswick Corporations Listed or Quoted on Certain Marketplaces are due July 28.