The Saskatchewan Financial Services Commission’s securities division has published a notice outlining the new corporate governance and continuous disclosure requirements that will come into force on March 30.

A new national instrument regarding issuers’ continuous disclosure obligations will come into force March 30.

It contains a comprehensive set of rules that replace the continuous disclosure provision. A new resale rule will also be implemented the same day; it contains a simple four-month hold/seasoning regime for all reporting issuers. Under the enhanced continuous disclosure rules, the qualifying issuer concept has been eliminated.

A simple four-month hold/seasoning regime now applies to all reporting issuers.

The new corporate governance requirements include rules requiring: that an auditor’s report accompanying a reporting issuer’s financial statements must be signed by a public accounting firm that is a member of the Canadian Public Accountability Board; an issuer’s chief executive officer and chief financial officer to personally certify that the issuer’s interim and annual financial statements; and, reporting issuers to have an audit committee.