As we discussed back in April, new harmonized insider reporting rules in Canada will soon result in an accelerated deadline for filing insider reports in respect of changes to previously reported holdings. Specifically, with respect to transactions occurring after October 31, 2010, an insider report will now have to be filed within five calendar days rather than the previous 10 day deadline. Thus, insiders should ensure that they are prepared to comply with this new requirement. Note, however, that initial reports will still be subject to a 10 day deadline.
For more information on the new insider reporting obligations generally, see our previous posts, below.
Preparing for Canada's new insider reporting requirements in force April 30, 2010 (Posted: April 21, 2010)
CSA publish insider reporting FAQ (Posted April 29, 2010)
CSA publish revised guidance respecting equity monetizations (Posted June 14, 2010)