Provincial securities regulators are seeking comment on proposed amendments to rules requiring issuers and executives to certify their financial filings.

The amendments to multilateral instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings are being published for a 90-day comment period by the securities regulatory authorities in every province and territory, except British Columbia.

B.C. would defer of certification regarding internal control over financial reporting, allow executives to skip this for financial years ending on before June 29, 2006.

“We believe that it is critical for our markets that all reporting issuers have sound internal control over financial reporting. The proposed amendments will allow additional time for certifying officers to satisfy themselves that they have an appropriate basis for providing the representations regarding internal control over financial reporting in their full annual certificates and full interim certificates,” the notice states.

The existing rule came into force on March 30. It is intended to improve the quality and reliability of financial and other continuous disclosure reporting by issuers, and to enhance investor confidence as a result.

Comments on the revisions are due by February 24, 2005.