CSA Provides Blanket Relief for Reporting Issuers due to COVID-19
45-day extension for financial statements, MD&A and other periodic filings will come as welcome relief for issuers
The CSA has just announced that reporting issuers and others will have a 45-day extension from periodic filings normally required on or before June 1, 2020. Superseding the CSA announcement we discussed here, issuers relying on this relief need not file applications for management cease trade orders as they will not be noted in default. The CSA expects to publish further details about this relief shortly.
The CSA also acknowledges that some issuers are considering virtual shareholder meetings as we discussed here. The CSA anticipates publishing guidance on making changes to AGMs soon.
This will be welcome relief to many reporting issuers struggling with the impact of the COVID-19 pandemic and allow them to focus their resources on their workforce and stakeholders.