Focus on Securities - OSC Staff Notice 51-720 – Issuer Guide for Companies Operating in Emerging Markets


On November 9, 2012 the Ontario Securities Commission published Staff Notice 51-720 – Issuer Guide for Companies Operating in Emerging Markets (the “Guide”). The Guide is based upon a prior review by the OSC of the adequacy of disclosure and regulatory compliance by 24 issuers, representing more than 50% of the 46 emerging market issuers for which Ontario is the principal regulator, which resulted in the publication of Staff Notice 51-719 – Emerging Markets Issuer Review dated March 20, 2012 (the “Review”). The Review focused on issuers with the following characteristics:

- mind and management are largely outside of Canada; and

- the principal active operations are outside of Canada, in regions such as Asia, Africa, South America and Eastern Europe.

The Review identified four main areas of concern with respect to these emerging market issuers (“EMIs”)...

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Business Organization Updates, International Trade Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Dentons | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »