National Instrument 51-102 Continuous Disclosure Obligations came into force on March 30, 2004.
This national instrument harmonizes the continuous disclosure requirements across Canada and replaces most existing local continuous disclosure requirements. Many of the requirements of the instrument apply to financial years beginning on or after January 1, 2004.
View National Instrument 51-102 and related documents
Disclosure Review Programs
In order to encourage high-quality financial reporting, the ASC conducts reviews of financial statements and other continuous disclosure of companies headquartered in Alberta. This is separate from its review of offering documents, and is aimed at information that companies provide on an ongoing basis.
The ASC conducts reviews of current disclosure documents, including:
- audited annual financial statements
- interim financial statements
- management discussion and analysis (MD&A)
- annual information forms (AIFs)
- material change reports
- press releases and other continuous disclosure
In their review, ASC staff identify recurring and significant deficiencies and ensure that companies and their professional advisors resolve any issues that arise. As these concerns are communicated to industry, the ASC anticipates that the quality of disclosure will continue to improve.