AMF Issues First Summary of Corporate Finance Oversight Activities
Sep 14, 2017
On September 14, 2017, the Autorité des marchés financiers (AMF) published its first Summary of Oversight and Regulatory Activities in respect of corporate finance.
The Summary, which was prepared by the Direction principale du financement des sociétés ("AMF Corporate Finance") will serve as a go-to tool for communications between the AMF and Québec companies that seek to raise capital through the markets, as well as their advisers.
It includes information on the main deficiencies identified in the continuous disclosure and financing documents of companies. It also contains examples of corrected information, particularly with respect to the presentation of non-GAAP (Generally Accepted Accounting Principles) financial measures, a company's ability to continue as a going concern and the sufficiency of proceeds from a prospectus offering. As well, in addition to giving data regarding distributions made by Québec companies and the industries in which they operate, the publication covers certain issues related to technological innovations (fintech) and the measures adopted to meet the oversight challenges arising from new financial products and services.
Review the press release and the summary on the AMF's website.