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|FOR IMMEDIATE RELEASE
December 18, 2019
OSC publishes 2019 Corporate Finance Branch Report
TORONTO – Today the Ontario Securities Commission (OSC) published its annual Corporate Finance Branch Report, an important resource to help issuers and their advisors comply with disclosure obligations.
The report provides issuers with guidance on trends and issues identified during compliance reviews. Key areas of focus in fiscal 2019 included MD&A disclosure, mining technical reports, non-GAAP financial measures, forward-looking information and executive compensation. The report also outlines the Branch’s operational and policy work.
“Burden reduction and the emergence of cannabis as a public company sector resulted in an eventful year,” says Sonny Randhawa, Director, Corporate Finance at the OSC. “Staff remain focused on publishing timely guidance for this emerging sector, as well as removing unnecessary requirements.”
Reducing burden for issuers remains a primary policy focus for the OSC. In the coming year, the OSC will continue to make progress on identified burden reduction recommendations including electronic delivery of documents and a program that allows issuers to file an entire prospectus confidentially for staff review. A complete list of burden reduction items relevant to issuers is included in the OSC’s Reducing Burden in Ontario Capital Markets report.
OSC Staff Notice 51-730 Corporate Finance Branch 2019 Annual Report can be viewed on the OSC website.
The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient capital markets and confidence in the capital markets, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at http://www.osc.gov.on.ca.
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