Disposition Plans News Today : Breaking News, Live Updates & Top Stories | Vimarsana

To print this article, all you need is to be registered or login on Mondaq.com. New guidance on automatic securities disposition plans (ASDPs) published by the Canadian Securities Administrators on December 10, 2020 focuses on the reduction of the potential for improper insider trades and enhancing transparency around the establishment and use of ASDPs. Automatic Securities Disposition Plans (the Staff Notice) notably sets out the following recommendations: Oversight by the issuer when establishing and using ASDPs to seek to ensure compliance with securities legislatio...

On December 10, 2020, the Canadian Securities Administrators (CSA) issued Staff Notice 55-317 Automatic Securities Disposition Plans (SN 55-317), providing recommendations for issuers and insiders on the establishment, administration and disclosure of Automatic Securities Disposition Plans (ASDPs). SN 55-317 replaces the Ontario Securities Commission's previous guidance on ASDPs included in OSC Staff Notice 55-701 BACKGROUND TO ASDPs Under Canada's securities legislation, there is an exemption from the general prohibition on insiders of an issuer trading securities with knowledge of materia...