Canada: Securities regulators enact changes to oil and gas disclosure standard

CALGARY – The Canadian Securities Administrators have enacted changes to the oil and gas industry disclosure standard known as National Instrument 51-101.

The revisions relate to requirements for disclosure of resources and modify annual filing requirements.


“Since it was implemented in September 2003, NI 51-101 has been recognized as providing Canada with one of the finest oil and gas disclosure regimes in the world,” Jean St-Gelais, head of Quebec’s Autorite des marches financiers and chairman of the CSA, the organization of the provincial securities commissions, stated Friday.

“Through our review and feedback from the market, we identified areas where the rule could be improved. These amendments address these areas and make NI 51-101 more meaningful and understandable to investors.”