RegAlert2026-06-25
Added · Updated
CSA Announces Final Amendments and Changes to Implement an Access Model for Certain Continuous Disclosure Documents of Reporting Issuers Other Than Investment Funds
The Canadian Securities Administrators (CSA) has published final amendments implementing an optional Access Model that modernizes how reporting issuers, excluding investment funds, distribute continuous disclosure documents. The framework permits issuers to provide electronic access to annual and interim financial statements alongside management’s discussion and analysis via the SEDAR+ platform, replacing traditional delivery requirements. Investors retain the right to request or maintain standing instructions for electronic or paper copies, with the updated rules set to take effect on September 22, 2026.
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Montréal
– The Canadian Securities Administrators (
CSA
) today published in final form amendments and changes to implement an access model for certain continuous disclosure documents of reporting issuers, other than investment funds (the Access Model ).
The Access Model aims to modernize the way annual financial statements, interim financial reports and related management’s discussion & analysis (collectively, CD documents ) are made available to investors. The Access Model, which is not mandatory for issuers, provides alternative procedures whereby electronic access may be provided to CD documents instead of following the delivery requirements currently found in securities legislation.
“This Access Model is consistent with the general evolution of our capital markets and recognizes that investors are increasingly accessing and consuming information electronically,” said Stan Magidson, CSA Chair and Chair and CEO of the Alberta Securities Commission. “Using technology to facilitate communication with investors is an important step for our markets.”
Among the measures implemented to support this change, the CSA has developed SEDAR+ notification functionality that a person or company can use to subscribe to receive an email notification when the CD documents that they subscribed for have been filed by the issuer on SEDAR+.
Under the Access Model, investors will continue to be able to request, or provide standing instructions to receive, the CD documents in electronic or paper form.
Provided all necessary approvals are obtained, the amendments and changes will come into force on September 22, 2026.
The CSA, the council of securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.
For investor inquiries, please contact your local securities regulator .
For media inquiries, please contact:
Ilana Kelemen
Canadian Securities Administrators
Sylvain Théberge
Autorité des marchés financiers
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Source: Canadian Securities Administrators — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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