51-308 - Filing of Management’s Discussion and Analysis and National Instrument 51-102 Continuous Disclosure Obligations [CSA Staff Notice - Rescinded]
| Published Date: | 2003-12-19 |
|---|---|
| Effective Date: | 2003-12-19 |
| Rescinded Date: | 2006-12-29 |
Introduction
The CSA have published an advance notice of the expected implementation of National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102).
When implemented, NI 51-102 will specify the form of management’s discussion and analysis (MD&A) that reporting issuers, other than investment funds, are required to file. Issuers that are subject to NI 51-102 will be required to file MD&A in Form 51-102F1 for financial years beginning on or after January 1, 2004. As a result, the first MD&A that must be filed in Form 51-102F1 for an issuer with a December 31 year-end will be for the first interim period ending March 31, 2004.
Form 51-102F1 provides that, if the first MD&A an issuer is required to file in that form is not an annual MD&A, the first MD&A must provide all the information required in the annual MD&A. The result is that the first interim MD&A filed for interim periods ended on or after March 31, 2004 will have to contain all elements of the annual MD&A in Form 51-102F1.
Current MD&A requirements will be modified to give issuers the option of filing their annual MD&A for fiscal years beginning before January 1, 2004 in Form 51-102F1. If issuers choose this option, their MD&A for subsequent interim periods would update their annual MD&A.
Questions
Please refer your questions to any of the following people:
British Columbia Securities Commission
Carla-Marie Hait, Chief Accountant (604) 899-6726
Michael Moretto, Associate Chief Accountant (604) 899-6767
Rosann Youck, Senior Legal Counsel (604) 899-6656
You may also call 1-800-373-6393 from B.C. and Alberta.
Alberta Securities Commission
Mavis Legg, Manager, Securities Analysis (403) 297-2663
Karen Wiwchar, Senior Legal Counsel (403) 297-4732
Manitoba Securities Commission
Bob Bouchard, Director, Corporate Finance (204) 945-2555
Nova Scotia Securities Commission
Bill Slattery, Deputy Director, Corporate Finance and Administration (902) 424-7355
Ontario Securities Commission
Joanne Peters, Senior Legal Counsel (416) 593-8134
Irene Tsatsos, Senior Accountant (416) 593-8223
Commission des valeurs mobilières du Québec
Rosetta Gagliardi, Conseillère en réglementation (514) 940-2199 ext. 4554
Saskatchewan Financial Services Commission - Securities Division
Ian McIntosh, Deputy Director, Corporate Finance (306) 787-5867
December 19, 2003