OSC adopts permanent exemptions for federal financial institutions

TORONTO – The OSC announced today the adoption of OSC Rule 52-503 Exemption from Disclosure of a Specified Financial Measure.

The rule provides an exemption in Ontario from certain requirements in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure for a reporting issuer that is, or that has a subsidiary or an affiliate that is, a “federal financial institution” as defined by the Bank Act (Canada) and subject to the guidelines of the Office of the Superintendent of Financial Institutions.

The rule is intended to make permanent a temporary exemption issued on December 2, 2021, which expired on June 2, 2023.

The mandate of the OSC is to provide protection to investors from unfair, improper or fraudulent practices, to foster fair and efficient and competitive capital markets and confidence in the capital markets, to foster capital formation, and to contribute to the stability of the financial system and the reduction of systemic risk. Investors are urged to check the registration of any persons or company offering an investment opportunity and to review the OSC investor materials available at https://www.osc.ca.