Canadian securities regulators to provide blanket relief for market participants due to COVID-19
Mar 18, 2020
On March 18, 2020, in light of recent COVID-19 developments and their impact on market participants, the Canadian Securities Administrators (CSA) will provide temporary relief from some regulatory filings required to be made on or before June 1, 2020.
The blanket relief will provide a 45-day extension for periodic filings normally required to be made by issuers, investment funds, registrants, certain regulated entities and designated rating organizations on or before June 1, 2020. This will include financial statements, management’s discussion and analysis, management reports of fund performance, annual information forms, technical reports, and certain other filings.
The extension applies to all issuers. For those with a December 31 year-end, the extensions are as follows:
TSX-listed issuers
| Original Deadline | New deadline | |
|---|---|---|
| Annual filing deadline (year-end financials, MD&A and AIF) | March 30 | May 14 |
| Q1 filing deadline | May 15 | June 29 |
TSX-Venture and CSE-listed issuers
| Original Deadline | New deadline | |
|---|---|---|
| Annual filing deadline (year-end financials, MD&A and AIF) | April 29 | June 15 |
| Q1 filing deadline | June 1 | July 14 |
Issuers choosing to rely on this exemption and that are complying with the conditions of the relief will not need to file applications for management cease trade orders as they will not be noted in default.
The CSA expects to publish further details about the relief shortly.
Review the press release on the CSA's website.
