Regulatory Alerts2021-08-05
Policy Statement to Regulation 52-112 respecting Non-GAAP and Other Financial Measures Disclosure
Provincial and territorial regulatory authorities issued this policy statement to interpret and apply the disclosure requirements of Regulation 52-112 regarding non-GAAP and other specified financial measures. The document clarifies definitions for non-GAAP financial measures, supplementary financial measures, and financial ratios, while explicitly excluding non-financial information and certain mandatory regulatory disclosures from its scope. It further outlines application rules for issuers, including requirements for website and social media disclosures, and specifies exemptions for third-party reports and pro forma statements prepared on a voluntary basis.
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