Canada announces pilot on semi-annual financial reporting to cut regulatory burden
BNN Bloomberg
Canadian securities regulators on Thursday announced a pilot project to allow smaller issuers to voluntarily adopt a semi-annual financial reporting framework, in a bid to ease the regulatory burden for public companies.
The move by the Canadian Securities Administrators mirrors a similar push in the United States, where regulators are working on fast-tracking U.S. President Donald Trump’s call to nix quarterly corporate disclosure requirements.
The CSA is an umbrella organization for Canada’s provincial and territorial securities regulators.
Under the pilot project, eligible so-called venture issuers listed on the TSX Venture Exchange or the CNSX Markets will be exempted from the requirement to file first- and third-quarter financial reports.
Canada is working to reinvigorate its dormant IPO market and reverse years-long shrinkage of publicly traded companies, driven by delistings and takeovers.
“The semi-annual financial reporting pilot is a great example of harmonization by Canada’s regulators to support the competitiveness of Canadian capital markets, particularly for smaller venture issuers,” said Stan Magidson, CSA Chair and Chair and CEO of the Alberta Securities Commission.
Bank of Canada holds rate at 2.25 per cent as growth weakens and oil-driven inflation risks rise amid geopolitical uncertainty.
U.S. stocks are sinking Wednesday after a discouraging report said inflation was primed to worsen, even before the war with Iran sent oil prices spiking.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
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Two Canadian cargo ships are stuck in the Persian Gulf and unable to pass through the blocked Strait of Hormuz as the war in Iran continues.
U.S. stocks are sinking Wednesday after another climb for oil prices raised worries about inflation, which may have been primed to worsen even before the war with Iran began.
U.S. crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.
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A key question hangs over the Federal Reserve’s two-day meeting that ends Wednesday: Will central bank policymakers still reduce short-term interest rates this year, now that the Iran war has sent oil prices higher and gas prices spiking? Or will they have to stand pat for months to see how the conflict plays out?
Wall Street followed global markets higher Wednesday and the price of U.S. crude fell eased despite a new barrage of attacks by Iran on its Gulf neighbors.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Shares advanced Wednesday in Europe and Asia as oil prices fell back slightly despite a barrage of attacks by Iran on its Gulf neighbours.
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