Regulatory Alerts2022-04-07
Draft Amendments to Policy Statement to Regulation 54-101 respecting Communication with Beneficial Owners of Securities of a Reporting Issuer
The regulator issued draft amendments to Policy Statement 54-101 to clarify the procedures for beneficial owners to manage their receipt of materials and disclosure of ownership information. The revised section 4.1 establishes that failing to return an annual request form overrides a beneficial owner's standing instructions regarding financial statements, unless the reporting issuer files a specific news release under Regulation 51-102. Intermediaries are required to alert clients to the costs and consequences of the options available in the client response form.
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