An issuer usually becomes a reporting issuer by issuing securities under a prospectus in British Columbia. They can also become a reporting issuer through a reverse-takeover or other corporate transaction involving an existing public issuer or a direct listing on a recognized stock exchange. A reporting issuer may provide liquidity for its shareholders by becoming listed on a recognized stock exchange.
Reporting issuers must maintain an accurate and up-to-date corporate or fund profile on the public record. This concept is known as "continuous disclosure." Continuous disclosure involves keeping shareholders fully informed of the company's affairs, significant changes on a timely basis, and making all required filings with the British Columbia Securities Commission.
BC is home to the most listed companies in Canada, though our companies tend to be smaller, with nearly half having a market value below $5 million. The province is also a world-class incubator for emerging companies, being home to about half of the companies listed on the venture exchanges (TSX Venture Exchange and Canadian Stock Exchange).