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OSC Continuous Disclosure Review Program

September-5-2002

Area Corporate Finance and Securities

Summary


 The Continuous Disclosure Team of the Ontario Securities Commission’s ("OSC") Corporate Finance Branch issues a report at least annually on the progress of its Continuous Disclosure Review Program (the "CD Review Program"). A report covering the year ended March 31, 2002 has recently been released. The Corporate Finance branch completed 517 CD reviews, representing some 29% of active Ontario-based reporting issuers. Of the 517 reviews, 97 were full CD reviews, 75 were part of a targeted review of revenue recognition practices, 150 reviews were of interim financial statements and interim MD&A, 112 were prospectus reviews, and 83 were issue-oriented reviews (responding to items identified through daily reviews, investor complaints, or through other sources).

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