Applications due by Feb. 24
CSA staff notice says this type of financial reporting “may mislead investors” if it’s not accompanied by appropriate disclosure
Disclosure is largely a “waste of time” because investors don’t read it, Australian regulator says
More research needed to determine whether this creates a cause for concern among regulators
One in five reviews resulted in firms re-filing certain disclosure
Judgment sheds light on what constitutes a material change requiring disclosure
Only 18% of investor presentations reviewed were deemed to be substantially compliant
The aim is to provide investors with additional information about companies’ governance practices
Additional disclosure is needed in order for shareholders to evaluate risks and beneftis, report says
RPT disclosure often found to be too generic, and not specific to the issuer, OSC says