Canadian Execs Get Two Hours for SEC Stock Advice Form
Published Date: 9/12/2025
Notice
Summary
The SEC is asking to keep using Schedule 14D-9F, a form that helps Canadian companies share important info during certain stock offers. This form takes about two hours to fill out once a year and helps investors make smart choices without extra costs. If you want to share your thoughts, you have until October 14, 2025, to comment!
Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Which Canadian Issuers Must File
If your company is a foreign private issuer incorporated or organized under Canadian law (or a director or officer of such an issuer) and the issuer is the subject of a cash tender or exchange offer filed on Schedule 14D-1F, you must use Schedule 14D-9F (17 CFR 240.14d-103). The information on Schedule 14D-9F is mandatory and is made available to the public.
Paperwork Time Burden Is Two Hours
The SEC estimates that Schedule 14D-9F takes about 2 hours to complete per response and that it is filed by approximately 1 respondent annually, for a total annual reporting burden of 2 hours. The agency also states there is no separate cost burden associated with this information collection.
Investors Get Public Tender-Offer Advice
If you own securities of a Canadian foreign private issuer, Schedule 14D-9F provides the filer's recommended response to a cash tender or exchange offer and that information is made public to help inform your investment decisions. The SEC says this disclosure also reduces expense and increases efficiency by relying on disclosure required under Canadian law.
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