CSA - Continuous Disclosure Review Program for March 31, 2010

Canadian Securities Administrators (CSA) have issued Staff Notice 51-332 Continuous Disclosure Review Program Activities for the fiscal year ended March 31, 2010, which summarizes the results of the CSA’s continuous disclosure (CD) review program. The number of reviews (1,351) represents a 23% increase from fiscal 2009 when the CSA conducted 1,094 reviews. The main reason for this increase was the completion of International Financial Reporting Standards (IFRS) transition disclosure reviews. To assist reporting issuers, Staff Notice 51-332 includes detailed examples of the common deficiencies found during the reviews in financial statements, Management’s Discussion and Analysis (MD&A) and oil and gas disclosure.