Regulatory Alerts2023-06-09
Policy Statement 11-201 Respecting Electronic Delivery of Documents
The Canadian Securities Administrators issued Policy Statement 11-201 to guide securities industry participants in using electronic delivery to fulfill statutory requirements for documents such as prospectuses, financial statements, and proxy materials. The policy establishes four core components for valid electronic delivery—notice, accessible access, document integrity, and proof of transmission—and clarifies that express consent is beneficial but not strictly mandatory. It further details technical standards for confidentiality, hyperlinks, multimedia content, and timing, while explicitly permitting electronic signatures and permanent digital records to satisfy traditional "in writing" and execution requirements for proxy documents.
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