Regulatory Alerts2025-11-13
CSA Notice of Consultation: Draft Regulation to Amend Regulation 52-112 respecting Non-GAAP and Other Financial Measures Disclosure
The Canadian Securities Administrators propose amendments to Regulation 52-112 to ensure that management-defined performance measures required by IFRS 18 remain subject to non-GAAP disclosure requirements. The draft changes introduce new definitions, mandate appropriate context for additional subtotals disclosed outside financial statements, and allow incorporation by reference to avoid duplicative disclosure. Additionally, the proposal consolidates existing exemptions for certain issuers and adds Regulation 52-112 to the Passport System for streamlined application.
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