Notice of Coming into Force of National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure and related consequential amendments to Multilateral Instrument 45-108 Crowdfunding
Notice of Coming into Force of National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure and related consequential amendments to Multilateral Instrument 45-108 Crowdfunding
August 12, 2021
On August 25, 2021, pursuant to section 143.4 of the Securities Act (Ontario) the following will come into force:
• National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure (NI 52-112); and
• consequential amendments to Multilateral Instrument 45-108 Crowdfunding (the Consequential Amendments).
On July 28, 2021, the Ontario Minister of Finance approved NI 52-112 and the Consequential Amendments.
In connection with NI 52-112, the Commission also adopted related Companion Policy 52-112 Non-GAAP and Other Financial Measures Disclosure and related changes to:
• Companion Policy 45-108CP Crowdfunding;
• Companion Policy 51-102CP Continuous Disclosure Obligations;
• Companion Policy 51-105CP Issuers Quoted in the U.S. Over-the-Counter Markets{1}; and
• Companion Policy 52-107CP Acceptable Accounting Principles and Auditing Standards (collectively, the Companion Policies). The Companion Policies become effective on August 25, 2021.
NI 52-112, the Consequential Amendments and the Companion Policies were published in the Bulletin on May 27, 2021. The text of NI 52-112, the Consequential Amendments and the Companion Policies are reproduced in Chapter 5 of this Bulletin.
{1} The Commission did not propose this consequential change as Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the-Counter Markets and its Companion Policy do not apply in Ontario.