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Well-Known Seasoned Issuers In Canada, Adam C. Pritchard
Well-Known Seasoned Issuers In Canada, Adam C. Pritchard
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The United States Securities and Exchange Commission (SEC) recently adopted a series of rules relaxing the restrictions imposed on public offerings. The largest public companies - defined as “well-known seasoned issuers” (WKSIs) - received the most extensive regulatory relief. Canada could adopt a version of WKSI status for the top tier of Toronto Stock Exchange (TSX) issuers as part of a streamlined POP system.
Careful consideration must be given, however, as to the appropriate standards for WKSI status in Canada. The standards adopted in the U.S. – US$700 million in market capitalization or US$1 billion in nonconvertible debt issued over …
The Regulation Of Public Auditing In Canada And The United States: Self-Regulation Or Government Regulation?, Adam C. Pritchard, Poonam Puri
The Regulation Of Public Auditing In Canada And The United States: Self-Regulation Or Government Regulation?, Adam C. Pritchard, Poonam Puri
Other Publications
Auditors play an important role as gatekeepers to public capital markets. By attesting to the accuracy of a company’s financial statements, the auditor lends its credibility to that company and its financial health.
Both market and legal mechanisms play a role in ensuring that auditors perform high quality audits. Reputation is critical in the market for auditors. In addition, potential legal liability to issuers and investors arising from contract, tort, and statutory securities laws creates incentives for auditors to conduct high quality audits. Potential discipline by professional self-regulatory bodies also plays a part. Striking the appropriate balance among market-based, legal, …