Québec Bourse has submitted its comments to the Canadian Securities Administrators public consultation aiming at reducing the regulatory burden for public companies.
It is essential to have a close look at the current regulatory framework and the relevance and appropriateness of all the requirements. There is a significant imbalance between the regulatory burden, compliance costs and investor protection. Investor protection must remain a priority. However the current regulatory regime has resulted in an overload of information and documentation which does not necessarily serve well the issuers nor the investors.
Our main recommandations include:
- An increase of the pool of issuers eligible to the streamlined rules;
- Providing the option to issuers eligible to the streamlined rules to adopt semi-annual financial reporting;
- Modernisation and lightening of the prospectus disclosure requirements.
Our comment letter is available in our “Resource center” section of our website