Canadian securities regulators have extended the deadline to file certain financial information due between June 2 and September 30, 2020 for 60 days (the Temporary Relief).
- The Temporary Relief is substantially the same, and subject to similar conditions, as the previously published relief (the Prior Relief).
- Registrants and unregistered capital markets participants that have relied on the Prior Relief may not rely on the extended deadlines under the Temporary Relief.
As we discussed in March, securities regulatory authorities in Canada previously extended deadlines by 45 days in respect of documents or information to be filed, or payment of fees, by certain registrants and unregistered capital markets participants. The Prior Relief applied in cases where the original due date for filing a specified document or information, or making a payment, fell between March 23 and June 1, 2020.
The Temporary Relief extends these same deadlines for 60 days where the original deadlines fall during the period from June 2 to September 30, 2020. No further extension of any deadline previously extended under the Prior Relief, however, is permitted.
The Temporary Relief, which has been issued pursuant to local blanket orders, came into effect on May 28, 2020 and expires on November 30, 2020. For more information see, for example, Ontario Instrument 31-513 Temporary Exemption from Certain Financial Statement and Information Delivery Requirements for Registrants and Unregistered Capital Markets Participants, No. 2.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
