CSA publish insider reporting FAQ
The Canadian Securities Administrators (CSA) yesterday published a staff notice addressing frequently asked questions regarding the new insider reporting regime under National Instrument 55-104 Insider Reporting Requirements and Exemptions. The notice contains examples of arrangements and transactions and corresponding guidance regarding the reporting of such arrangements and transactions. Specifically, the questions addressed include those with respect to (i) whether existing insiders have to file a new initial report; (ii) whether existing insiders who are not reporting insiders under NI 55-104 have to file anything to show their change in reporting status; (iii) exemptions for automatic securities purchase plans; and (iv) grants of related financial instruments.
The CSA also stated that it intends to shortly publish general guidance regarding: (i) reporting for certain derivative transactions and (ii) questions and answers on insider reporting and SEDI.
