Securities Law

BCN 2001/17 - CSA Request for Comment 52-401 - Discussion Paper: Financial Reporting In Canada’s Capital Markets [BCN - Rescinded]

Published Date: 2001-03-16
Effective Date: 2001-03-15

The Canadian Securities Administrators are publishing CSA Request for Comment 52-401 - Discussion Paper:  Financial Reporting In Canada’s Capital Markets.  Attached to this notice is the executive summary for the discussion paper.  The complete discussion paper can be found at the BC Securities Commission public website at www.bcsc.bc.ca under “What’s New”.

The CSA are considering whether it would be appropriate to relax the current rules to allow some or all Canadian and foreign reporting issuers to use US GAAP or International Accounting Standards with limited or no reconciliation to Canadian GAAP.  The paper sets out alternatives being considered and related issues including comparability, professional capacity, and other statutory requirements. 

The CSA are seeking responses to 17 questions set out in the paper.

Interested parties are invited to make written submissions by June 30, 2001.  Submissions should be addressed to all of the Canadian securities regulatory authorities listed below and sent, in duplicate, in care of the Ontario Securities Commission, as indicated below:

British Columbia Securities Commission
Alberta Securities Commission
Saskatchewan Securities Commission
The Manitoba Securities Commission
Ontario Securities Commission
Office of the Administrator, New Brunswick
Registrar of Securities, Prince Edward Island
Nova Scotia Securities Commission
Securities Commission of Newfoundland
Securities Registry, Government of the Northwest Territories
Registrar of Securities, Government of the Yukon Territory
Securities Registry, Government of the Nunavut Territory

c/o John Stevenson, Secretary
Ontario Securities Commission
20 Queen Street West
Suite 800, Box 55
Toronto, Ontario M5H 3S8
e-mail:

Submissions should also be addressed to the Commission des valeurs mobilières du Québec as follows:

Claude St. Pierre, Secrètaire
Commission des valeurs mobilières du Québec
800 Victoria Square
Stock Exchange Tower
P.O. Box 246, 22nd Floor
Montréal, Quebéc H4Z 1G3
e-mail:

An e-mail attachment or a diskette containing the submissions (in DOS or Windows format, preferably Word) should also be submitted.

Comment letters are placed in a public file in certain jurisdictions and form part of the public record unless confidentiality is requested.  Comment letters will be circulated among the CSA jurisdictions whether or not confidentiality is requested.  Although comment letters requesting confidentiality will not be placed on the public file, freedom of information legislation in certain jurisdictions may require the securities regulatory authorities to make comment letters available.  Persons submitting comment letters should therefore be aware that the press and members of the public may be able to obtain access to any comment letters.

Questions may be referred to any of:

John A. Carchrae, CA
Chief Accountant
Ontario Securities Commission
(416) 593 8221
e-mail: jcarchrae@osc.gov.on.ca

Sandra E. Dowling, CA
Senior Accountant
Ontario Securities Commission
(416) 593 8153
e-mail: sdowling@osc.gov.on.ca

Carla-Marie Hait, CA
Chief Accountant
British Columbia Securities Commission
(604) 899 6726
e-mail: cmhait@bcsc.bc.ca

Diane Joly, CA
Director, Research and Market Developments
Commission des valeurs mobilières du Québec
(514) 940 2199 ext. 4551
e-mail: diane.joly@cvmq.com

Fred Snell, FCA
Chief Accountant
Alberta Securities Commission
(403) 297 6553
e-mail: fred.snell@seccom.ab.ca


DATED at Vancouver, British Columbia, on March 15, 2001.

 

 


Douglas M. Hyndman
Chair

Ref: CSA Request for Comment 52-401

This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the Commission Documents database or the Historical Documents database.