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CALGARY and TORONTO – The Canadian Securities Administrators (CSA) is providing an update on the climate-related disclosure project following the Canadian Sustainability Standards Board’s (CSSB) publication of its final Canadian Sustainability Disclosure Standard (CSDS) 1 General Requirements for Disclosure of Sustainability-related Financial Information (CSDS 1) and CSDS 2 Climate-related Disclosures (CSDS 2 and, together with CSDS 1, the CSSB Standards).  The CSSB Standards are voluntary until mandated by provincial and territorial regulators. In order to become mandatory disclosures under securities legislation in Canada, the CSSB Standards would need to be incorporated into a CSA rule. As noted in previous market updates, the CSA continues to work towards a revised climate-related disclosure rule that will consider the CSSB Standards and may include modifications considered appropriate for the Canadian capital markets. The CSA is taking a climate-first approach and therefore is focusing on those requirements necessary to support a climate-related disclosure rule.  “The CSSB Standards provide a voluntary disclosure framework for sustainability and climate-related disclosure,” said Stan Magidson, CSA Chair and Chair and CEO of the Alberta Securities Commission. “As the CSA develops a revised climate-related disclosure rule, we will also consider the feedback received by the CSSB during its consultation.” The CSA will continue to work towards a balanced approach that supports the assessment of material climate-related risks, responds to requests for consistent, comparable and decision-useful climate-related disclosures, and contributes to efficient capital markets, including considering the needs and capabilities of issuers of different sizes. We will continue to monitor international developments related to climate-related disclosure. Given the interconnectedness of our markets, we will be carefully considering developments in the United States. The CSA will publish a revised rule for public comment and will encourage interested and affected parties to provide feedback. We anticipate seeking comment on specific issues, including the scope of application and the need for additional time or guidance for reporting issuers to comply with certain disclosure requirements. We also anticipate consulting on concerns regarding liability with respect to new requirements for climate-related disclosure.  The CSA, the council of the securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets. For media inquiries, please contact: Ilana Kelemen Canadian Securities Administrators media@acvm-csa.ca Debra Chan Ontario Securities Commission media_inquiries@osc.gov.on.ca Tanja McMorris Alberta Securities Commission media@asc.ca       For investor inquiries, please contact your local securities regulator.  

TORONTO - The Canadian Securities Administrators (CSA) have extended the comment periods for the investment fund continuous disclosure modernization and principal distributor model proposals.  The CSA is mindful there are a large number of significant proposed rule changes open for stakeholder feedback. To give all stakeholders sufficient time to thoroughly review these proposals and provide meaningful input on them, the CSA is extending the comment period deadlines for the continuous disclosure modernization and principal distributor model proposals. The new dates were selected to ensure that the CSA will still be able to make timely progress on these initiatives. The CSA published proposed amendments aimed at modernizing the continuous disclosure regime for investment funds on September 19, 2024. The deadline to submit comments on the proposed amendments has been extended to January 31, 2025. The British Columbia Securities Commission (BCSC) did not publish the proposed amendments for comment at the time due to the British Columbia provincial general election taking place at that time. The BCSC published the proposed amendments on November 19, 2024. The deadline for comments with respect to the BCSC publication has also been extended to January 31, 2025.  The CSA published proposed amendments to the principal distributor model in the distribution of mutual funds on November 28, 2024. The deadline to submit comments on those proposals has been extended to April 28, 2025. The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets. For media inquiries, please contact: Ilana Kelemen Canadian Securities Administrators media@acvm-csa.ca Julia Mackenzie Ontario Securities Commission  media_inquiries@osc.gov.on.ca For investor inquiries, please contact your local securities regulator.  

Your career at the Commission is enriched with daily opportunities to learn, innovate, and grow professionally in a supportive, stimulating, and flexible workplace. We offer a competitive total compensation package and exciting opportunities for professional development. We support our employees in maintaining their professional designations and provide technical updates on a continual basis for many of our sectors. We offer a variety of management leadership skills training opportunities and a popular French-language program for those employees interested in strengthening or maintaining their second language. Our professional groups bring together professionals working in the same fields to offer peer support and learning.  We are currently hiring for: Coordinator, Human Resources (HR) Programs – Human Resources, Business Planning & Accountability Division (Saint John or Fredericton office) For more information about this position please visit our Career page or call the Human Resources Officer at (506) 643-7790.

Your career at the Commission is enriched with daily opportunities to learn, innovate, and grow professionally in a supportive, stimulating, and flexible workplace. We offer a competitive total compensation package and exciting opportunities for professional development. We support our employees in maintaining their professional designations and provide technical updates on a continual basis for many of our sectors. We offer a variety of management leadership skills training opportunities and a popular French-language program for those employees interested in strengthening or maintaining their second language. Our professional groups bring together professionals working in the same fields to offer peer support and learning.  We are currently hiring for: Advisor, Talent Development & Compensation - Human Resources, Business Planning & Accountability Division (Saint John office) For more information about this position please visit our Career page or call the Human Resources Officer at (506) 643-7790.