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2015 Corporate Finance Disclosure Report

  • Securities - ASC Image

Dec 15, 2015

On December 15, 2015, the Alberta Securities Commission (ASC) released its 25th CD report where it presents its observations from reviews of CD and offering documents completed during the year and identifies key areas where issuers can improve disclosure.

This year’s report comes at what is possibly the most difficult market circumstance for Alberta’s energy industry participants since the ASC began providing commentary on disclosure. The erosion of key commodity prices brings to the forefront concerns around asset impairment as well as the impact on liquidity. A full year into this cycle has only deepened the impact of these factors on the Alberta capital market, and perhaps widened the circle of impact into other industries. New and anticipated developments in the areas of climate policy and the Alberta royalty regime may present disclosure considerations in the new year ahead.

Download the report from the ASC's Web site.


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