OSC Staff Notice: 51-714 - OSC Continuous Disclosure Advisory Committee

ONTARIO SECURITIES COMMISSION

NOTICE 51-714 (REVISED)

OSC CONTINUOUS DISCLOSURE

ADVISORY COMMITTEE

(Previously published May 14, 2004)

The Ontario Securities Commission is inviting new applications for membership on its Continuous Disclosure Advisory Committee (CDAC).

The activities of the OSC's Corporate Finance Branch include reviewing continuous disclosure filings made by reporting issuers, addressing policy issues in the area of continuous disclosure, and monitoring external sources for possible CD issues. It also works to increase awareness of continuous disclosure issues and to effect greater discipline in the marketplace with respect to continuous disclosure obligations.

The Commission recognizes the critical importance of consulting with industry participants and other stakeholders in carrying out its mandate. The CDAC, established in 2002, advises staff on a range of matters including the planning, implementation and communication of its review program, and policy- and rule-making initiatives. The CDAC also serves as a forum to make staff aware of emerging issues and to critically assess its procedures.

The CDAC is made up of approximately fifteen individual members. The CDAC generally meets five times a year and members serve two-year terms. Members are expected to have extensive knowledge of continuous disclosure issues and a strong interest in securities regulatory policy as it relates to these issues. The CDAC is chaired by a Commission staff representative. The current chair is John Hughes.

We invite representatives of reporting issuers, industry associations, advisors, investing organizations and any other interested persons to apply in writing for membership on the CDAC indicating their areas of practice and relevant experience. Interested parties should submit their application by June 30, 2006. Applications and any queries regarding this Notice may be forwarded to:

May 26, 2006