Two attorneys with Stikeman Elliott LLP, one of Canada’s leading business law firms, have written a blog post noting that when they are preparing and filing a preliminary prospectus, they have recently noticed that regulators are commonly responding with requests for further disclosure from issuers with mining properties in emerging markets.
The post noted that regulators have in recent years increased the scrutiny over emerging market issuers in general – something discussed in several previous blog posts. The blog post went on to note the specific areas for disclosures recently requested by regulators in the context of their prospectus reviews.
With those areas in mind, the attorneys concluded that emerging market stock issuers, especially mining companies, outside of Canada, the US, Australia and Western Europe, that intend or are considering filing a prospectus in Canada, would be well advised to consider the OSC guide released in November 2012 and other staff guidance and policies and review their disclosure accordingly in advance of undertaking a public offering of securities.
To read the whole blog post, Emerging market issuers face prospectus scrutiny, go to the website of Canadian Securities Law.
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