51-201 - Disclosure Standards [NP - Rescinded]
| Published Date: | 2002-07-12 |
|---|---|
| Effective Date: | 2002-07-12 |
| Rescinded Date: | 2007-12-31 |
| Document(s): |
|
NATIONAL POLICY 51-201 DISCLOSURE STANDARDS
TABLE OF CONTENTS
PART I - INTRODUCTION
1.1Purpose
PART II - TIMELY DISCLOSURE
2.1Timely Disclosure
2.2Confidentiality
2.3Maintaining Confidentiality
2.2Confidentiality
2.3Maintaining Confidentiality
PART III - OVERVIEW OF THE STATUTORY PROHIBITIONS AGAINST
SELECTIVE DISCLOSURE
3.1Tipping and Insider Trading
3.2Persons Subject to Tipping Provisions
3.3Necessary Course of Business
3.4Necessary Course of Business Disclosures and Confidentiality
3.5Generally Disclosed
3.6Unintentional Disclosure
3.7Administrative Proceedings
3.2Persons Subject to Tipping Provisions
3.3Necessary Course of Business
3.4Necessary Course of Business Disclosures and Confidentiality
3.5Generally Disclosed
3.6Unintentional Disclosure
3.7Administrative Proceedings
PART IV - MATERIALITY
4.1Materiality Standard
4.2Materiality Determinations
4.3Examples of Potentially Material Information
4.4External Political, Economic and Social Developments
4.5Exchange Policies
4.2Materiality Determinations
4.3Examples of Potentially Material Information
4.4External Political, Economic and Social Developments
4.5Exchange Policies
PART V - RISKS ASSOCIATED WITH CERTAIN DISCLOSURES
5.1Private Briefings with Analysts, Institutional Investors and other Market Professionals
5.2Analyst Reports
5.3Confidentiality Agreements with Analysts
5.4Analysts as “Tippees”
5.5Earnings Guidance
5.6Application of National Policy Statement 48
5.7Selective Disclosure Violations Can Occur in a Variety of Settings
5.2Analyst Reports
5.3Confidentiality Agreements with Analysts
5.4Analysts as “Tippees”
5.5Earnings Guidance
5.6Application of National Policy Statement 48
5.7Selective Disclosure Violations Can Occur in a Variety of Settings
PART VI - BEST DISCLOSURE PRACTICES
6.1General
6.2Establishing a Corporate Disclosure Policy
6.3Overseeing and Coordinating Disclosure
6.4Board and Audit Committee Review of Certain Disclosure
6.5Authorizing Company Spokespersons
6.6Recommended Disclosure Model
6.7Analyst Conference Calls and Industry Conferences
6.8Analyst Reports
6.9Updating Forward-Looking Information
6.10Quiet Periods
6.11Insider Trading Policies and Blackout Periods
6.12Electronic Communications
6.13Chat Rooms, Bulletin Boards and e-mails
6.14Handling Rumours
6.2Establishing a Corporate Disclosure Policy
6.3Overseeing and Coordinating Disclosure
6.4Board and Audit Committee Review of Certain Disclosure
6.5Authorizing Company Spokespersons
6.6Recommended Disclosure Model
6.7Analyst Conference Calls and Industry Conferences
6.8Analyst Reports
6.9Updating Forward-Looking Information
6.10Quiet Periods
6.11Insider Trading Policies and Blackout Periods
6.12Electronic Communications
6.13Chat Rooms, Bulletin Boards and e-mails
6.14Handling Rumours