TORONTO, 25 November 2021 / CNW / – The Ontario Securities Commission (OSC) today released its annual report Report of the Directorate-General for Corporate Finance, an important resource to help issuers and their advisers meet their reporting obligations.
The report provides issuers with advice on trends and issues identified during compliance reviews. Key areas of focus during fiscal 2021 included MD&A disclosure, COVID-19 disclosure, mining technical reports, use of non-GAAP financial measures, as well as diversity within boards of directors and in management positions.
The report also highlights critical policy initiatives affecting reporting to reporting issuers, such as proposed changes DC requirements to streamline and clarify annual and interim filings, publication of proposals climate-related disclosure obligations, as well as considerations on greater diversity.
“Capital raising in Ontario continues to grow at a rapid and unprecedented rate, with the branch having received a record number of prospectus filings in the past year, âsaid Sonny Randhawa, Director, Corporate Finance at the OSC. âDespite these operational volumes, we have successfully achieved significant publication milestones on several key policy initiatives. ”
During fiscal year 2021, more than 574 prospectuses filed in Ontario were completed, which represents an increase of almost 50% over the previous year and volumes not seen in more than a decade. The OSC published best practice guide in January to support issuers in their efforts to raise capital.
OSC Staff Notice 51-732 Corporate Finance Branch Annual Report 2021 can be viewed on the OSC website.
The mandate of the OSC is to protect investors against unfair, inappropriate or fraudulent practices, to promote fair, efficient and competitive financial markets and confidence in financial markets, to promote capital formation and to contribute to the stability of the economy. financial system. and reducing systemic risk. Investors are urged to verify the registration of any person or company offering an investment opportunity and to review the OSC Investor Materials available at http://www.osc.ca.
SOURCE Ontario Securities Commission
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