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The CSA Provide Guidance to Income Trust Issuers on Prospectus Disclosure of Estimated Distributable Cash

August-30-2005

Area Corporate Finance and Securities, REITs and Income Securities

Summary



The Canadian Securities Administrators have issued CSA Staff Notice 41-304 Income Trusts: Prospectus Disclosure of Distributable Cash which provides guidance to income trust issuers regarding prospectus disclosure of estimated distributable cash.  The Notice describes staff’s expectations about the nature and extent of disclosure necessary to ensure transparency when information about estimated distributable cash, a non-GAAP financial measure, is presented in a prospectus.

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