OSC Releases Key Findings of Environmental Reporting Review

    TORONTO, Feb. 27 /CNW/ - The Ontario Securities Commission (OSC) today
published OSC Staff Notice 51-716 Environmental Reporting following a targeted
review of compliance with environmental reporting requirements by reporting
    "Over the past several years, we have increasingly focused on the
adequacy of disclosure of environmental matters in continuous disclosure
documents," said Corporate Finance Director Margo Paul. "It is important that
the information is meaningful so that investors can make informed investment
    The Notice summarizes key findings following a review of 35 Ontario-based
reporting issuers. Overall, staff identified several areas of deficient
disclosure. In particular, staff have identified environmental liabilities and
risks as areas of concern.
    The Notice provides guidance that reporting issuers should consider when
discussing environmental matters in their continuous disclosure documents to
ensure their disclosure is in compliance with securities legislation. Staff
will continue to monitor the disclosure of environmental matters as part of
ongoing continuous disclosure reviews.
    OSC Staff Notice 51-716 Environmental Reporting is available in the
Rules, Policies & Notices section of the OSC website www.osc.gov.on.ca.

For further information:

For further information: For Media Inquiries: Wendy Dey, Director,
Communications & Public Affairs, (416) 593-8120; Laurie Gillett, Manager,
Public Affairs, (416) 595-8913; Carolyn Shaw-Rimmington, Assistant Manager,
Public Affairs, (416) 593-2361; For Investor Inquiries: OSC Contact Centre,
(416) 593-8314, 1-877-785-1555 (Toll Free)

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