Regulatory Alerts2026-06-25
Changes to Policy Statement to Regulation 54-101 Respecting Communication with Beneficial Owners of Securities of a Reporting Issuer
The Canadian Securities Administrators issued this document to replace Section 4.1 of the Policy Statement to Regulation 54-101 regarding communication with beneficial owners. The revised text clarifies that beneficial owners use client response forms to specify their preferences for receiving materials and disclosing ownership information, while intermediaries must alert clients to the costs and consequences of these options. It further establishes that failing to return an annual request form for financial statements overrides standing instructions, unless the reporting issuer provides electronic access to the documents under Regulation 51-102.
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