The Canadian Securities Administrators today released its proposed rules for harmonized continuous disclosure requirements, and harmonized exemptions for foreign issuers.

The proposed National Instrument 51-102 Continuous Disclosure consolidates, updates and harmonizes continuous disclosure requirements for reporting issuers other than investment funds. It would replace large portions of current rules.

As investmentexecutive.com reported earlier this week, the disclosure enhancements include more timely filing of financial statements, additional requirements for annual information forms and management discussion and analysis, and new reports concerning completed significant business acquisitions.

Greater scope would be provided for the filing of financial statements applying U.S. accounting standards. As well, requirements for financial statement mailing would be eased.

The proposed National 71-102 Continuous Disclosure and Other Exemptions Relating to Foreign Issuer sets out a number of uniform exemptions from the requirements of the new CD rule for specified categories of foreign issuer.