(October 21 – 15:35 ET) – The Ontario Securities Commission has recently created a Continuous Disclosure Team within its Corporate Finance Branch to review the continuous disclosure filings made by public companies.
The quality of financial reporting, and other continuous disclosure made by public companies, has become a major focus at the OSC. The CDT will be undertaking reviews of specific public companies to identify issues that affect the integrity of continuous disclosure, including creative accounting techniques. The team will also examine policy issues surrounding continuous disclosure.
One of the CDT’s first policy initiatives is to address selective disclosure of material information. Four hundred public companies were randomly chosen across all industries to participate in a survey of certain disclosure practices. The survey can be consulted and filled out on the OSC’s Web site.
-IE Staff
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