Filing Deadline Extension Announced by The Canadian Securities Administrators

The Canadian Securities Administrators (CSA) have announced temporary relief from some regulatory filing deadlines that would otherwise be required to be complied with for filings normally due on or before June 1, 2020.

The blanket relief will provide a 45-day extension for periodic filings normally required to be made by issuers, investment funds, registrants, certain regulated entities and designated rating organizations on or before June 1, 2020. The filing deadline extension relief will apply to filings including financial statements, management’s discussion and analysis, management reports of fund performance, annual information forms, technical reports, and certain other filings.

Issuers choosing to rely on this exemption and that are complying with the conditions of the relief will not need to file applications for management cease trade orders as they will not be noted in default by securities regulators.

The CSA expects to publish further details about the relief shortly.

The CSA has also indicated that it intends to publish guidance on making changes to annual general meetings as soon as possible.

Finally, all CSA proposals currently out for comment will have their comment periods extended by 45 days.