SEC Extends Canadian Stock Offer Disclosure Forms
Published Date: 7/8/2025
Notice
Summary
The SEC wants to keep collecting info from Canadian companies involved in certain stock offers to help investors make smart choices. This paperwork takes about two hours once a year for one company, with no extra costs. They’re asking for feedback to make sure this process stays useful and easy.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Disclosure to Help Investors Decide
Schedule 14D-9F is used when a Canadian foreign private issuer is the subject of a cash tender or exchange offer filed on Schedule 14D-1F. The form provides investors the filer's recommended response to a tender offer and relies on disclosure required under Canadian law to inform securityholders' investment decisions.
Paperwork Burden: Two Hours Annually
The Commission estimates Schedule 14D-9F creates a paperwork burden of approximately two hours per response, filed by about one respondent annually for a total annual reporting burden of two hours. The notice states there is no separate cost burden associated with this information collection.
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Key Dates
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