To mark Fraud Prevention Month in March, FCNB is inviting New Brunswickers to become familiar with the red flags of fraud and is sharing tools and resources to help New Brunswickers stay out of fraud’s reach.
Fraud Prevention Month is an annual awareness initiative to help empower Canadians by providing information they need to recognize, reject and report fraud. On March 2, FCNB will be participating alongside numerous partners across the country in a Canada-wide social media Fraud Prevention Month launch event, held by the Canadian Anti-Fraud Centre (CAFC). In addition, the CAFC will be hosting a #FraudChat on their Twitter page at 1:00 PM every Wednesday in March, to discuss weekly topics related to fraud.
According to the CAFC, New Brunswickers reported losing more than $3.7 million to frauds and scams in the past three years. FCNB reminds New Brunswickers that even though frauds and scams can present in different ways, the red flags of fraud remain consistent. These include:
An offer sounding too good to be true
An investment that guarantees a specific return or claims to be “risk free”
A threat that if you don’t act immediately you will be arrested or prosecuted
A request for you to confirm personal or financial information when they have contacted you
A request that you to pay for something in the form of gift cards or cryptocurrencies, such as bitcoin
A professional operating without a license or registration when it is required for them to do business. An individual in the business of insurance, investments, mortgages, direct sales, credit lending, payday loans or real estate in New Brunswick must be licenced or registered with FCNB. 
More red flags of fraud and details on common scams targeting New Brunswickers are available at FCNB.ca.
In addition, as part of fraud prevention month FCNB will be sharing information about the risks involved in private mortgages. Follow FCNB on social media for access to videos and resources about private mortgages as well as valuable information on how to protect yourself from fraud.
“With recent changes in mortgage stress test rules, it’s becoming more difficult for some to get mortgages from traditional lenders,” said Alaina Nicholson, Director of Consumer Affairs at FCNB. “Private lending has become increasingly popular for people seeking loans to buy or renovate a home.”  For those unable to secure a traditional mortgage from a bank or credit union, private mortgages may seem like an attractive alternative, however, a number of risks should be considered, including being targeted or implicated in mortgage fraud.   
“Asking questions and thinking seriously before making financial or purchasing decisions is another way to protect yourself from fraud or from making a decision that isn’t in your best interest,” says Marissa Sollows, Director of Education and Communications at FCNB. To verify licensing or registration in New Brunswick visit FCNB’s website.
The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of provincial legislation regulating mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Educational tools and resources are available online.

[Read More] […]

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To mark Fraud Prevention Month in March, FCNB is inviting New Brunswickers to become familiar with the red flags of fraud and is sharing tools and resources to help New Brunswickers stay out of fraud’s reach.
Fraud Prevention Month is an annual awareness initiative to help empower Canadians by providing information they need to recognize, reject and report fraud. On March 2, FCNB will be participating alongside numerous partners across the country in a Canada-wide social media Fraud Prevention Month launch event, held by the Canadian Anti-Fraud Centre (CAFC). In addition, the CAFC will be hosting a #FraudChat on their Twitter page at 1:00 PM every Wednesday in March, to discuss weekly topics related to fraud.
According to the CAFC, New Brunswickers reported losing more than $3.7 million to frauds and scams in the past three years. FCNB reminds New Brunswickers that even though frauds and scams can present in different ways, the red flags of fraud remain consistent. These include:
An offer sounding too good to be true
An investment that guarantees a specific return or claims to be “risk free”
A threat that if you don’t act immediately you will be arrested or prosecuted
A request for you to confirm personal or financial information when they have contacted you
A request that you to pay for something in the form of gift cards or cryptocurrencies, such as bitcoin
A professional operating without a license or registration when it is required for them to do business. An individual in the business of insurance, investments, mortgages, direct sales, credit lending, payday loans or real estate in New Brunswick must be licenced or registered with FCNB. 
More red flags of fraud and details on common scams targeting New Brunswickers are available at FCNB.ca.
In addition, as part of fraud prevention month FCNB will be sharing information about the risks involved in private mortgages. Follow FCNB on social media for access to videos and resources about private mortgages as well as valuable information on how to protect yourself from fraud.
“With recent changes in mortgage stress test rules, it’s becoming more difficult for some to get mortgages from traditional lenders,” said Alaina Nicholson, Director of Consumer Affairs at FCNB. “Private lending has become increasingly popular for people seeking loans to buy or renovate a home.”  For those unable to secure a traditional mortgage from a bank or credit union, private mortgages may seem like an attractive alternative, however, a number of risks should be considered, including being targeted or implicated in mortgage fraud.   
“Asking questions and thinking seriously before making financial or purchasing decisions is another way to protect yourself from fraud or from making a decision that isn’t in your best interest,” says Marissa Sollows, Director of Education and Communications at FCNB. To verify licensing or registration in New Brunswick visit FCNB’s website.
The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of provincial legislation regulating mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Educational tools and resources are available online.

[Read More] […]

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To mark Fraud Prevention Month in March, FCNB is inviting New Brunswickers to become familiar with the red flags of fraud and is sharing tools and resources to help New Brunswickers stay out of fraud’s reach.
Fraud Prevention Month is an annual awareness initiative to help empower Canadians by providing information they need to recognize, reject and report fraud. On March 2, FCNB will be participating alongside numerous partners across the country in a Canada-wide social media Fraud Prevention Month launch event, held by the Canadian Anti-Fraud Centre (CAFC). In addition, the CAFC will be hosting a #FraudChat on their Twitter page at 1:00 PM every Wednesday in March, to discuss weekly topics related to fraud.
According to the CAFC, New Brunswickers reported losing more than $3.7 million to frauds and scams in the past three years. FCNB reminds New Brunswickers that even though frauds and scams can present in different ways, the red flags of fraud remain consistent. These include:
An offer sounding too good to be true
An investment that guarantees a specific return or claims to be “risk free”
A threat that if you don’t act immediately you will be arrested or prosecuted
A request for you to confirm personal or financial information when they have contacted you
A request that you to pay for something in the form of gift cards or cryptocurrencies, such as bitcoin
A professional operating without a license or registration when it is required for them to do business. An individual in the business of insurance, investments, mortgages, direct sales, credit lending, payday loans or real estate in New Brunswick must be licenced or registered with FCNB. 
More red flags of fraud and details on common scams targeting New Brunswickers are available at FCNB.ca.
In addition, as part of fraud prevention month FCNB will be sharing information about the risks involved in private mortgages. Follow FCNB on social media for access to videos and resources about private mortgages as well as valuable information on how to protect yourself from fraud.
“With recent changes in mortgage stress test rules, it’s becoming more difficult for some to get mortgages from traditional lenders,” said Alaina Nicholson, Director of Consumer Affairs at FCNB. “Private lending has become increasingly popular for people seeking loans to buy or renovate a home.”  For those unable to secure a traditional mortgage from a bank or credit union, private mortgages may seem like an attractive alternative, however, a number of risks should be considered, including being targeted or implicated in mortgage fraud.   
“Asking questions and thinking seriously before making financial or purchasing decisions is another way to protect yourself from fraud or from making a decision that isn’t in your best interest,” says Marissa Sollows, Director of Education and Communications at FCNB. To verify licensing or registration in New Brunswick visit FCNB’s website.
The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of provincial legislation regulating mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Educational tools and resources are available online.

[Read More] […]

Read More…

To mark Fraud Prevention Month in March, FCNB is inviting New Brunswickers to become familiar with the red flags of fraud and is sharing tools and resources to help New Brunswickers stay out of fraud’s reach.
Fraud Prevention Month is an annual awareness initiative to help empower Canadians by providing information they need to recognize, reject and report fraud. On March 2, FCNB will be participating alongside numerous partners across the country in a Canada-wide social media Fraud Prevention Month launch event, held by the Canadian Anti-Fraud Centre (CAFC). In addition, the CAFC will be hosting a #FraudChat on their Twitter page at 1:00 PM every Wednesday in March, to discuss weekly topics related to fraud.
According to the CAFC, New Brunswickers reported losing more than $3.7 million to frauds and scams in the past three years. FCNB reminds New Brunswickers that even though frauds and scams can present in different ways, the red flags of fraud remain consistent. These include:
An offer sounding too good to be true
An investment that guarantees a specific return or claims to be “risk free”
A threat that if you don’t act immediately you will be arrested or prosecuted
A request for you to confirm personal or financial information when they have contacted you
A request that you to pay for something in the form of gift cards or cryptocurrencies, such as bitcoin
A professional operating without a license or registration when it is required for them to do business. An individual in the business of insurance, investments, mortgages, direct sales, credit lending, payday loans or real estate in New Brunswick must be licenced or registered with FCNB. 
More red flags of fraud and details on common scams targeting New Brunswickers are available at FCNB.ca.
In addition, as part of fraud prevention month FCNB will be sharing information about the risks involved in private mortgages. Follow FCNB on social media for access to videos and resources about private mortgages as well as valuable information on how to protect yourself from fraud.
“With recent changes in mortgage stress test rules, it’s becoming more difficult for some to get mortgages from traditional lenders,” said Alaina Nicholson, Director of Consumer Affairs at FCNB. “Private lending has become increasingly popular for people seeking loans to buy or renovate a home.”  For those unable to secure a traditional mortgage from a bank or credit union, private mortgages may seem like an attractive alternative, however, a number of risks should be considered, including being targeted or implicated in mortgage fraud.   
“Asking questions and thinking seriously before making financial or purchasing decisions is another way to protect yourself from fraud or from making a decision that isn’t in your best interest,” says Marissa Sollows, Director of Education and Communications at FCNB. To verify licensing or registration in New Brunswick visit FCNB’s website.
The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of provincial legislation regulating mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Educational tools and resources are available online.

[Read More] […]

Read More…

To mark Fraud Prevention Month in March, FCNB is inviting New Brunswickers to become familiar with the red flags of fraud and is sharing tools and resources to help New Brunswickers stay out of fraud’s reach.
Fraud Prevention Month is an annual awareness initiative to help empower Canadians by providing information they need to recognize, reject and report fraud. On March 2, FCNB will be participating alongside numerous partners across the country in a Canada-wide social media Fraud Prevention Month launch event, held by the Canadian Anti-Fraud Centre (CAFC). In addition, the CAFC will be hosting a #FraudChat on their Twitter page at 1:00 PM every Wednesday in March, to discuss weekly topics related to fraud.
According to the CAFC, New Brunswickers reported losing more than $3.7 million to frauds and scams in the past three years. FCNB reminds New Brunswickers that even though frauds and scams can present in different ways, the red flags of fraud remain consistent. These include:
An offer sounding too good to be true
An investment that guarantees a specific return or claims to be “risk free”
A threat that if you don’t act immediately you will be arrested or prosecuted
A request for you to confirm personal or financial information when they have contacted you
A request that you to pay for something in the form of gift cards or cryptocurrencies, such as bitcoin
A professional operating without a license or registration when it is required for them to do business. An individual in the business of insurance, investments, mortgages, direct sales, credit lending, payday loans or real estate in New Brunswick must be licenced or registered with FCNB. 
More red flags of fraud and details on common scams targeting New Brunswickers are available at FCNB.ca.
In addition, as part of fraud prevention month FCNB will be sharing information about the risks involved in private mortgages. Follow FCNB on social media for access to videos and resources about private mortgages as well as valuable information on how to protect yourself from fraud.
“With recent changes in mortgage stress test rules, it’s becoming more difficult for some to get mortgages from traditional lenders,” said Alaina Nicholson, Director of Consumer Affairs at FCNB. “Private lending has become increasingly popular for people seeking loans to buy or renovate a home.”  For those unable to secure a traditional mortgage from a bank or credit union, private mortgages may seem like an attractive alternative, however, a number of risks should be considered, including being targeted or implicated in mortgage fraud.   
“Asking questions and thinking seriously before making financial or purchasing decisions is another way to protect yourself from fraud or from making a decision that isn’t in your best interest,” says Marissa Sollows, Director of Education and Communications at FCNB. To verify licensing or registration in New Brunswick visit FCNB’s website.
The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of provincial legislation regulating mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Educational tools and resources are available online.

[Read More] […]

Read More…

To mark Fraud Prevention Month in March, FCNB is inviting New Brunswickers to become familiar with the red flags of fraud and is sharing tools and resources to help New Brunswickers stay out of fraud’s reach.
Fraud Prevention Month is an annual awareness initiative to help empower Canadians by providing information they need to recognize, reject and report fraud. On March 2, FCNB will be participating alongside numerous partners across the country in a Canada-wide social media Fraud Prevention Month launch event, held by the Canadian Anti-Fraud Centre (CAFC). In addition, the CAFC will be hosting a #FraudChat on their Twitter page at 1:00 PM every Wednesday in March, to discuss weekly topics related to fraud.
According to the CAFC, New Brunswickers reported losing more than $3.7 million to frauds and scams in the past three years. FCNB reminds New Brunswickers that even though frauds and scams can present in different ways, the red flags of fraud remain consistent. These include:
An offer sounding too good to be true
An investment that guarantees a specific return or claims to be “risk free”
A threat that if you don’t act immediately you will be arrested or prosecuted
A request for you to confirm personal or financial information when they have contacted you
A request that you to pay for something in the form of gift cards or cryptocurrencies, such as bitcoin
A professional operating without a license or registration when it is required for them to do business. An individual in the business of insurance, investments, mortgages, direct sales, credit lending, payday loans or real estate in New Brunswick must be licenced or registered with FCNB. 
More red flags of fraud and details on common scams targeting New Brunswickers are available at FCNB.ca.
In addition, as part of fraud prevention month FCNB will be sharing information about the risks involved in private mortgages. Follow FCNB on social media for access to videos and resources about private mortgages as well as valuable information on how to protect yourself from fraud.
“With recent changes in mortgage stress test rules, it’s becoming more difficult for some to get mortgages from traditional lenders,” said Alaina Nicholson, Director of Consumer Affairs at FCNB. “Private lending has become increasingly popular for people seeking loans to buy or renovate a home.”  For those unable to secure a traditional mortgage from a bank or credit union, private mortgages may seem like an attractive alternative, however, a number of risks should be considered, including being targeted or implicated in mortgage fraud.   
“Asking questions and thinking seriously before making financial or purchasing decisions is another way to protect yourself from fraud or from making a decision that isn’t in your best interest,” says Marissa Sollows, Director of Education and Communications at FCNB. To verify licensing or registration in New Brunswick visit FCNB’s website.
The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of provincial legislation regulating mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Educational tools and resources are available online.

[Read More] […]

Read More…

To mark Fraud Prevention Month in March, FCNB is inviting New Brunswickers to become familiar with the red flags of fraud and is sharing tools and resources to help New Brunswickers stay out of fraud’s reach.
Fraud Prevention Month is an annual awareness initiative to help empower Canadians by providing information they need to recognize, reject and report fraud. On March 2, FCNB will be participating alongside numerous partners across the country in a Canada-wide social media Fraud Prevention Month launch event, held by the Canadian Anti-Fraud Centre (CAFC). In addition, the CAFC will be hosting a #FraudChat on their Twitter page at 1:00 PM every Wednesday in March, to discuss weekly topics related to fraud.
According to the CAFC, New Brunswickers reported losing more than $3.7 million to frauds and scams in the past three years. FCNB reminds New Brunswickers that even though frauds and scams can present in different ways, the red flags of fraud remain consistent. These include:
An offer sounding too good to be true
An investment that guarantees a specific return or claims to be “risk free”
A threat that if you don’t act immediately you will be arrested or prosecuted
A request for you to confirm personal or financial information when they have contacted you
A request that you to pay for something in the form of gift cards or cryptocurrencies, such as bitcoin
A professional operating without a license or registration when it is required for them to do business. An individual in the business of insurance, investments, mortgages, direct sales, credit lending, payday loans or real estate in New Brunswick must be licenced or registered with FCNB. 
More red flags of fraud and details on common scams targeting New Brunswickers are available at FCNB.ca.
In addition, as part of fraud prevention month FCNB will be sharing information about the risks involved in private mortgages. Follow FCNB on social media for access to videos and resources about private mortgages as well as valuable information on how to protect yourself from fraud.
“With recent changes in mortgage stress test rules, it’s becoming more difficult for some to get mortgages from traditional lenders,” said Alaina Nicholson, Director of Consumer Affairs at FCNB. “Private lending has become increasingly popular for people seeking loans to buy or renovate a home.”  For those unable to secure a traditional mortgage from a bank or credit union, private mortgages may seem like an attractive alternative, however, a number of risks should be considered, including being targeted or implicated in mortgage fraud.   
“Asking questions and thinking seriously before making financial or purchasing decisions is another way to protect yourself from fraud or from making a decision that isn’t in your best interest,” says Marissa Sollows, Director of Education and Communications at FCNB. To verify licensing or registration in New Brunswick visit FCNB’s website.
The Financial and Consumer Services Commission has the mandate to protect consumers and enhance public confidence in the financial and consumer marketplace through the provision of regulatory and educational services. It is responsible for the administration and enforcement of provincial legislation regulating mortgage brokers, payday lenders, real estate, securities, insurance, pensions, credit unions, trust and loan companies, co-operatives, and a wide range of other consumer legislation. It is an independent Crown corporation funded by the regulatory fees and assessments paid by the regulated sectors. Educational tools and resources are available online.

[Read More] […]

Read More…

The Canadian Securities Administrators (CSA) today published key findings of recently completed reviews of issuers’ COVID-19 disclosure. Guidance and disclosure examples have been provided to assist issuers with reporting on the impacts of COVID-19 to their business and operations.   
“We are encouraged by the overall quality of disclosures issuers provided,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “However, there were some instances where issuers did not provide sufficient detail related to the current and expected impact of COVID-19 on their operations and financial condition, including liquidity and capital resources. It is important that issuers review this guidance closely so that they provide transparent and balanced disclosure.”
A majority of issuers reviewed provided detailed, quality disclosure. This included affected issuers significantly expanding their Management Discussion and Analysis section (MD&A) to explain the impact of COVID-19 to their industry, operations, customers and suppliers. Most issuers also adequately disclosed impairments of non-financial assets in light of deterioration in their business since the onset of the COVID-19 pandemic. 
CSA staff identified some areas where disclosure could be improved, including issuers needing to provide more discussion of entity-specific measures taken to reduce the COVID-19 impact on their business. The review also revealed instances where issuers provided unbalanced or overly promotional disclosure, as well as isolated instances of non-compliance of non-GAAP measures and forward-looking information. 
CSA staff reviewed the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020. As a result of the reviews, some issuers required no action, while other issuers were requested to make prospective disclosure enhancements. 
The CSA will continue to closely monitor issuers’ continuous disclosure filings in relation to the impact of the COVID-19 pandemic, as part of the CSA’s ongoing continuous disclosure review program.  Further regulatory guidance to assist issuers with their COVID-19 disclosure can be found on the CSA COVID-19 Information Hub.
CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements is available on CSA members’ websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

[Read More] […]

Read More…

The Canadian Securities Administrators (CSA) today published key findings of recently completed reviews of issuers’ COVID-19 disclosure. Guidance and disclosure examples have been provided to assist issuers with reporting on the impacts of COVID-19 to their business and operations.   
“We are encouraged by the overall quality of disclosures issuers provided,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “However, there were some instances where issuers did not provide sufficient detail related to the current and expected impact of COVID-19 on their operations and financial condition, including liquidity and capital resources. It is important that issuers review this guidance closely so that they provide transparent and balanced disclosure.”
A majority of issuers reviewed provided detailed, quality disclosure. This included affected issuers significantly expanding their Management Discussion and Analysis section (MD&A) to explain the impact of COVID-19 to their industry, operations, customers and suppliers. Most issuers also adequately disclosed impairments of non-financial assets in light of deterioration in their business since the onset of the COVID-19 pandemic. 
CSA staff identified some areas where disclosure could be improved, including issuers needing to provide more discussion of entity-specific measures taken to reduce the COVID-19 impact on their business. The review also revealed instances where issuers provided unbalanced or overly promotional disclosure, as well as isolated instances of non-compliance of non-GAAP measures and forward-looking information. 
CSA staff reviewed the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020. As a result of the reviews, some issuers required no action, while other issuers were requested to make prospective disclosure enhancements. 
The CSA will continue to closely monitor issuers’ continuous disclosure filings in relation to the impact of the COVID-19 pandemic, as part of the CSA’s ongoing continuous disclosure review program.  Further regulatory guidance to assist issuers with their COVID-19 disclosure can be found on the CSA COVID-19 Information Hub.
CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements is available on CSA members’ websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

[Read More] […]

Read More…

The Canadian Securities Administrators (CSA) today published key findings of recently completed reviews of issuers’ COVID-19 disclosure. Guidance and disclosure examples have been provided to assist issuers with reporting on the impacts of COVID-19 to their business and operations.   
“We are encouraged by the overall quality of disclosures issuers provided,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “However, there were some instances where issuers did not provide sufficient detail related to the current and expected impact of COVID-19 on their operations and financial condition, including liquidity and capital resources. It is important that issuers review this guidance closely so that they provide transparent and balanced disclosure.”
A majority of issuers reviewed provided detailed, quality disclosure. This included affected issuers significantly expanding their Management Discussion and Analysis section (MD&A) to explain the impact of COVID-19 to their industry, operations, customers and suppliers. Most issuers also adequately disclosed impairments of non-financial assets in light of deterioration in their business since the onset of the COVID-19 pandemic. 
CSA staff identified some areas where disclosure could be improved, including issuers needing to provide more discussion of entity-specific measures taken to reduce the COVID-19 impact on their business. The review also revealed instances where issuers provided unbalanced or overly promotional disclosure, as well as isolated instances of non-compliance of non-GAAP measures and forward-looking information. 
CSA staff reviewed the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020. As a result of the reviews, some issuers required no action, while other issuers were requested to make prospective disclosure enhancements. 
The CSA will continue to closely monitor issuers’ continuous disclosure filings in relation to the impact of the COVID-19 pandemic, as part of the CSA’s ongoing continuous disclosure review program.  Further regulatory guidance to assist issuers with their COVID-19 disclosure can be found on the CSA COVID-19 Information Hub.
CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements is available on CSA members’ websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

[Read More] […]

Read More…

The Canadian Securities Administrators (CSA) today published key findings of recently completed reviews of issuers’ COVID-19 disclosure. Guidance and disclosure examples have been provided to assist issuers with reporting on the impacts of COVID-19 to their business and operations.   
“We are encouraged by the overall quality of disclosures issuers provided,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “However, there were some instances where issuers did not provide sufficient detail related to the current and expected impact of COVID-19 on their operations and financial condition, including liquidity and capital resources. It is important that issuers review this guidance closely so that they provide transparent and balanced disclosure.”
A majority of issuers reviewed provided detailed, quality disclosure. This included affected issuers significantly expanding their Management Discussion and Analysis section (MD&A) to explain the impact of COVID-19 to their industry, operations, customers and suppliers. Most issuers also adequately disclosed impairments of non-financial assets in light of deterioration in their business since the onset of the COVID-19 pandemic. 
CSA staff identified some areas where disclosure could be improved, including issuers needing to provide more discussion of entity-specific measures taken to reduce the COVID-19 impact on their business. The review also revealed instances where issuers provided unbalanced or overly promotional disclosure, as well as isolated instances of non-compliance of non-GAAP measures and forward-looking information. 
CSA staff reviewed the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020. As a result of the reviews, some issuers required no action, while other issuers were requested to make prospective disclosure enhancements. 
The CSA will continue to closely monitor issuers’ continuous disclosure filings in relation to the impact of the COVID-19 pandemic, as part of the CSA’s ongoing continuous disclosure review program.  Further regulatory guidance to assist issuers with their COVID-19 disclosure can be found on the CSA COVID-19 Information Hub.
CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements is available on CSA members’ websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

[Read More] […]

Read More…

The Canadian Securities Administrators (CSA) today published key findings of recently completed reviews of issuers’ COVID-19 disclosure. Guidance and disclosure examples have been provided to assist issuers with reporting on the impacts of COVID-19 to their business and operations.   
“We are encouraged by the overall quality of disclosures issuers provided,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “However, there were some instances where issuers did not provide sufficient detail related to the current and expected impact of COVID-19 on their operations and financial condition, including liquidity and capital resources. It is important that issuers review this guidance closely so that they provide transparent and balanced disclosure.”
A majority of issuers reviewed provided detailed, quality disclosure. This included affected issuers significantly expanding their Management Discussion and Analysis section (MD&A) to explain the impact of COVID-19 to their industry, operations, customers and suppliers. Most issuers also adequately disclosed impairments of non-financial assets in light of deterioration in their business since the onset of the COVID-19 pandemic. 
CSA staff identified some areas where disclosure could be improved, including issuers needing to provide more discussion of entity-specific measures taken to reduce the COVID-19 impact on their business. The review also revealed instances where issuers provided unbalanced or overly promotional disclosure, as well as isolated instances of non-compliance of non-GAAP measures and forward-looking information. 
CSA staff reviewed the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020. As a result of the reviews, some issuers required no action, while other issuers were requested to make prospective disclosure enhancements. 
The CSA will continue to closely monitor issuers’ continuous disclosure filings in relation to the impact of the COVID-19 pandemic, as part of the CSA’s ongoing continuous disclosure review program.  Further regulatory guidance to assist issuers with their COVID-19 disclosure can be found on the CSA COVID-19 Information Hub.
CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements is available on CSA members’ websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

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The Canadian Securities Administrators (CSA) today published key findings of recently completed reviews of issuers’ COVID-19 disclosure. Guidance and disclosure examples have been provided to assist issuers with reporting on the impacts of COVID-19 to their business and operations.   
“We are encouraged by the overall quality of disclosures issuers provided,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “However, there were some instances where issuers did not provide sufficient detail related to the current and expected impact of COVID-19 on their operations and financial condition, including liquidity and capital resources. It is important that issuers review this guidance closely so that they provide transparent and balanced disclosure.”
A majority of issuers reviewed provided detailed, quality disclosure. This included affected issuers significantly expanding their Management Discussion and Analysis section (MD&A) to explain the impact of COVID-19 to their industry, operations, customers and suppliers. Most issuers also adequately disclosed impairments of non-financial assets in light of deterioration in their business since the onset of the COVID-19 pandemic. 
CSA staff identified some areas where disclosure could be improved, including issuers needing to provide more discussion of entity-specific measures taken to reduce the COVID-19 impact on their business. The review also revealed instances where issuers provided unbalanced or overly promotional disclosure, as well as isolated instances of non-compliance of non-GAAP measures and forward-looking information. 
CSA staff reviewed the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020. As a result of the reviews, some issuers required no action, while other issuers were requested to make prospective disclosure enhancements. 
The CSA will continue to closely monitor issuers’ continuous disclosure filings in relation to the impact of the COVID-19 pandemic, as part of the CSA’s ongoing continuous disclosure review program.  Further regulatory guidance to assist issuers with their COVID-19 disclosure can be found on the CSA COVID-19 Information Hub.
CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements is available on CSA members’ websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

[Read More] […]

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The Canadian Securities Administrators (CSA) today published key findings of recently completed reviews of issuers’ COVID-19 disclosure. Guidance and disclosure examples have been provided to assist issuers with reporting on the impacts of COVID-19 to their business and operations.   
“We are encouraged by the overall quality of disclosures issuers provided,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “However, there were some instances where issuers did not provide sufficient detail related to the current and expected impact of COVID-19 on their operations and financial condition, including liquidity and capital resources. It is important that issuers review this guidance closely so that they provide transparent and balanced disclosure.”
A majority of issuers reviewed provided detailed, quality disclosure. This included affected issuers significantly expanding their Management Discussion and Analysis section (MD&A) to explain the impact of COVID-19 to their industry, operations, customers and suppliers. Most issuers also adequately disclosed impairments of non-financial assets in light of deterioration in their business since the onset of the COVID-19 pandemic. 
CSA staff identified some areas where disclosure could be improved, including issuers needing to provide more discussion of entity-specific measures taken to reduce the COVID-19 impact on their business. The review also revealed instances where issuers provided unbalanced or overly promotional disclosure, as well as isolated instances of non-compliance of non-GAAP measures and forward-looking information. 
CSA staff reviewed the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020. As a result of the reviews, some issuers required no action, while other issuers were requested to make prospective disclosure enhancements. 
The CSA will continue to closely monitor issuers’ continuous disclosure filings in relation to the impact of the COVID-19 pandemic, as part of the CSA’s ongoing continuous disclosure review program.  Further regulatory guidance to assist issuers with their COVID-19 disclosure can be found on the CSA COVID-19 Information Hub.
CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements is available on CSA members’ websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

[Read More] […]

Read More…

The Canadian Securities Administrators (CSA) today published key findings of recently completed reviews of issuers’ COVID-19 disclosure. Guidance and disclosure examples have been provided to assist issuers with reporting on the impacts of COVID-19 to their business and operations.   
“We are encouraged by the overall quality of disclosures issuers provided,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “However, there were some instances where issuers did not provide sufficient detail related to the current and expected impact of COVID-19 on their operations and financial condition, including liquidity and capital resources. It is important that issuers review this guidance closely so that they provide transparent and balanced disclosure.”
A majority of issuers reviewed provided detailed, quality disclosure. This included affected issuers significantly expanding their Management Discussion and Analysis section (MD&A) to explain the impact of COVID-19 to their industry, operations, customers and suppliers. Most issuers also adequately disclosed impairments of non-financial assets in light of deterioration in their business since the onset of the COVID-19 pandemic. 
CSA staff identified some areas where disclosure could be improved, including issuers needing to provide more discussion of entity-specific measures taken to reduce the COVID-19 impact on their business. The review also revealed instances where issuers provided unbalanced or overly promotional disclosure, as well as isolated instances of non-compliance of non-GAAP measures and forward-looking information. 
CSA staff reviewed the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020. As a result of the reviews, some issuers required no action, while other issuers were requested to make prospective disclosure enhancements. 
The CSA will continue to closely monitor issuers’ continuous disclosure filings in relation to the impact of the COVID-19 pandemic, as part of the CSA’s ongoing continuous disclosure review program.  Further regulatory guidance to assist issuers with their COVID-19 disclosure can be found on the CSA COVID-19 Information Hub.
CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements is available on CSA members’ websites. 
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
For media inquiries, please contact:
For Investor inquiries, please refer to your respective securities regulator. You can contact them here. 
For inquiries from market participants (issuers and registrants, or their representatives), please refer to the list of subject matter experts at the end of the CSA Staff Notice.

[Read More] […]

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