12-203 - Cease Trade Orders for Continuous Disclosure Defaults (National Policy)

12-203 - Cease Trade Orders for Continuous Disclosure Defaults (National Policy)

• Cease Trade Orders for Continuous Disclosure Defaults

  Effective Date: September 1, 2008. Consolidated to January 1, 2011. Replacement in effect June 23, 2016.

  Provides guidance to issuers, investors and other market participants as to how the Canadian Securities Administrators will generally respond to certain types of serious continuous disclosure defaults (referred to as specified defaults in this policy) by a reporting issuer.

  12_203_np_june_23_2016.pdf
• Amendments to National Policy 12-203

  Effective Date: Subject to Ministerial approval – June 9, 2023.

  12_203_np_amendments_2023_03_23.pdf