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The national registration search contains the names of all individuals and firms who are registered to sell securities in Canada, with the exception of those registered solely with the Ontario Securities Commision (OSC).

Canadian securities regulators publish revised disclosure expectations for issuers with U.S. marijuana-related activities

Feb 08 2018

Toronto – The Canadian Securities Administrators (CSA) today published CSA Staff Notice 51-352 (Revised) Issuers with U.S. Marijuana-Related Activities, which sets out CSA staff’s disclosure expectations for specific risks facing issuers with marijuana-related activities in the U.S.

“In light of political and regulatory uncertainty surrounding the treatment of U.S. marijuana-related activities, CSA staff have updated our disclosure expectations for issuers in this space,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Today’s notice also follows CSA staff’s consideration of the rescission of the Cole Memorandum and our conclusion that a disclosure-based approach remains appropriate in the current circumstances.”

The revised notice includes additional disclosure expectations that apply to all issuers with U.S. marijuana-related activities, including those with direct and indirect involvement in the cultivation and distribution of marijuana, as well as issuers that provide goods and services to third parties involved in the U.S. marijuana industry. Issuers are expected to provide these disclosures in prospectus filings and other required documents, such as their Annual Information Form and Management’s Discussion and Analysis.

The CSA will continue to monitor developments in the U.S. marijuana industry.

The revised notice can be found on CSA members’ websites and replaces the prior version issued on October 16, 2017

Additionally, CDS will continue to clear the securities of issuers with U.S. marijuana-related activities.

The CSA, the council of securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.

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For more information:​​​

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Kristen Rose
Ontario Securities Commission
416-593-2336
Alison Walker
British Columbia Securities Commission
604-899-6713
Jason Booth
The Manitoba Securities Commission
204-945-1660
David Harrison
Nova Scotia Securities Commission
902-424-8586
John O’Brien
Office of the Superintendent of Securities
Newfoundland and Labrador
709-729-4909
Jeff Mason
Nunavut Securities Office
867-975-6591
Shannon McMillan
Financial and Consumer Affairs Authority of Saskatchewan
306-798-4160
Hilary McMeekin
Alberta Securities Commission
403-592-8186
Sylvain Théberge
Autorité des marchés financiers
514-940-2176
Erin King
Financial and Customer Services
Commission, New Brunswick
506-643-7045
Steven Dowling
Government of Prince Edward Island
Superintendent of Securities
902-368-4551
Rhonda Horte
Office of the Yukon Superintendent of Securities
867-667-5466
Tom Hall
Office of the Superintendent of Securities,
Northwest Territories
867-767-9305