55-307 - Reminder to file paper insider reports using the correct codes [CSA Staff Notice - Rescinded]
| Published Date: | 2002-03-21 |
|---|---|
| Effective Date: | 2002-03-18 |
| Rescinded Date: | 2003-04-11 |
The purpose of this notice is to provide guidance to insiders who are filing paper insider reports.
All insiders who file paper insider reports must use Form 55-102F6. Form 55-102F6 is a new form that contains and requires the use of new nature of transaction codes, and new nature of ownership codes. For example, Form 55-102F6 prescribes nature of transaction code 50 for a “Grant of options” transaction, and nature of ownership code 1 for “Direct ownership”. Please refer to the instructions page of Form 55-102F6 for a full list of these codes.
The codes in Form 55-102F6 (the new codes) are significantly different from the codes in the previous paper form (the old codes). For example, nature of transaction code 50 in the previous paper form refers to an “Acquisition or disposition by gift”, instead of a “Grant of options”.
The CSA have received a number of paper reports that continue to use the old codes. The use of these old codes, where new codes have been prescribed, creates uncertainty as to what transaction is being reported, and may result in dissemination of misleading insider reporting information to the marketplace.
As a result, CSA staff will not accept any reports that use the old codes. CSA staff will return these reports, and require that insiders refile their reports on Form 55-102F6 using the correct codes. CSA staff recognize that prior to Form 55-102F6 coming into effect, a number of reporting issuers prepared customized insider report forms for their insiders. CSA staff will accept an insider report filed on a customized form, if it contains the information required and uses the codes prescribed by Form 55-102F6. Please write “Form 55-102F6" on the customized form.
You can download PDF and/or Word versions of Form 55-102F6 from the securities commission websites listed below.
Securities commission websites:
www.albertasecurities.com
www.bcsc.bc.ca
www.msc.gov.mb.ca
www.servicenl.gov.nl.ca/securities/
www.osc.gov.on.ca
www.cvmq.com
For further information, please contact:
Agnes Lau
Deputy Director, Capital Markets
Alberta Securities Commission
Telephone: (780) 422-2191
E-mail: agnes.lau@seccom.ab.ca
Andrew Richardson
Manager, Financial and Insider Reporting
British Columbia Securities Commission
Telephone: (604) 899-6730
or (800) 373-6393 (in B.C. and Alberta)
E-mail: arichardson@bcsc.bc.ca
Wayne Bridgeman
Corporate Finance Analyst
The Manitoba Securities Commission
Telephone: (204) 945-4905
or (800) 655-5244 (in Manitoba)
E-mail: wbridgeman@gov.mb.ca
Kelly Gorman
Senior Accountant, Corporate Finance
Ontario Securities Commission
Telephone: (416) 593-8119
E-mail: kgorman@osc.gov.on.ca
Susan W. Powell
Program & Policy Development
Securities Commission of Newfoundland and Labrador
Telephone: (709) 729-4875
Fax: (709) 729-6187
Sylvie Lalonde
Conseillère en règlementation
Commission des valeurs mobilières du Québec
Telephone: (514) 940-2199 ext. 4555
E-mail: sylvie.lalonde@cvmq.com
March 18, 2002