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Business Acquisition Reports: CSA Propose to Relax Thresholds for Filing

September 24, 2019

On September 5, 2019, the Canadian Securities Administrators (CSA) published for comment proposed amendments to National Instrument 51-102 Continuous Disclosure Obligations (NI 51-102), which would relax the requirements for certain public companies to file a business acquisition report (BAR) in connection with business acquisitions. The potential changes are informed by comment letters and stakeholder feedback obtained by the CSA in response to a consultation paper published in 2017. Any comments on the proposed amendments to the BAR requirements are due to the CSA by December 4th of this year. Objective In proposing these amendments, the regulators’ stated objective is to reduce the regulatory burden imposed by the current BAR requirements, without compromising investor protection. The proposed amendments are just one of six areas of securities legislation applicable to non-investment fund reporting issuers that could see a reduction in regulatory requirements in the coming months, as...

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