The Canadian Securities Administrators (CSA) is seeking comments from the public on proposed National Policy 12-202 Revocation of a Compliance-related Cease Trade Order.

The CSA developed this policy to harmonize and streamline the process to revoke or vary a cease trade order.

The policy applies in all jurisdictions and outlines what issuers, security-holders or other parties must do to apply for a partial or full revocation of a compliance-related cease trade order. A securities commission issues a cease trade order to halt trading in company shares for a predetermined or an indefinite period of time.

“Stakeholders told us different policies and practices in various jurisdictions make the current system confusing,” said Jean St-Gelais, chairman of the CSA and president & CEO of the Autorité des marchés financiers. “The proposed policy aims to address these concerns by harmonizing and streamlining the process.”

The proposed CSA National Policy 12-202 Revocation of a Compliance-related Cease Trade Order is available on various CSA members’ web sites.

The comment period is open from January 5 to March 6.