View regulatory action details on a profile

You can also view details of any regulatory actions on a profile by clicking on the ‘Regulatory actions’ tab and then clicking on the ‘Defaults’, ‘Cease trade orders’, ‘Disciplinary actions’ or ‘Temporary orders’ sub-tab. If there are no regulatory actions under the respective sub-tab the screen will display ‘No items found’.

Defaults sub-tab
If a reporting issuer is noted in default of its continuous disclosure or related payment requirements in any CSA jurisdiction, the jurisdiction that noted them in default and the nature of the default will appear in a table in the ‘Defaults’ sub-tab. The nature of the default will be represented by one or more default codes. For more information about the categories of default, click on the following link to the CSA’s website for CSA Notice 51-322 Reporting Issuer Defaults.

A separate row will appear in the table for each jurisdiction that has noted the reporting issuer in default. The principal jurisdiction, as identified on the profile, will be noted in brackets beside the respective jurisdiction. Only active defaults will appear on SEDAR+. For more information on historical defaults contact the respective securities regulatory authority.

If there is an active default from any jurisdiction on the profile an ‘In default’ flag appears on the profile and a ‘Yes’ appears in the default column on the reporting issuers list. For more information about the reporting issuers list click on the following link Reporting issuers list.

Cease trade orders sub-tab
If a cease trade order (CTO) has been issued against an issuer and noted in the profile, summary details about the CTO will appear in a table under the ‘Cease trade orders’ sub-tab. For more details about the CTO, click on the link under the ‘Regulatory action number’ column or click on the link under the ‘Supporting document’ to view the actual CTO document. A separate row will appear in the table for each ban trading BY or ban trading OF sanction (ban trading sanctions) that has been issued against the issuer and noted in the profile. For more information on ban trading BY or ban trading OF sanctions click on the following link What does ban trading BY and ban trading OF mean?.

The table will be sorted based on status and issued date with the active, most recently issued CTOs or ban trading sanctions, appearing at the top. If a ban trading sanction has become inactive either because it has expired or been fully revoked, it will continue to appear under the ‘Cease trade orders’ sub-tab with an inactive status. If an active ban trading sanction appears under the sub-tab, an ‘Active cease trade order’ flag will also appear on the profile. If the profile belongs to a reporting issuer, a ‘Yes’ will also appear under the ‘Active cease trade order’ column on the reporting issuers list. For more information about the reporting issuers list read Reporting issuers list.

Disciplinary actions sub-tab
If a disciplinary action has been issued against an individual or organization and noted in the profile by a ruling body, summary details of the disciplinary action will appear in a table under the ‘Disciplinary action’ sub-tab. If the disciplinary action contains a ban trading sanction, details of the ban trading sanction will also appear under the ‘Cease trade orders’ tab. For more details about the disciplinary action click on the link under the ‘Regulatory action number’ column or click on the link under the ‘Supporting document’ to view the actual order or decision document issued by the ruling body.

Temporary orders sub-tab
If an enforcement regulatory action is temporary in nature, summary details of the temporary order will appear in a table under the ‘Temporary orders’ sub-tab. If the temporary order contains a ban trading sanction, details of the ban trading sanction will also appear under the ‘Cease trade orders’ tab. For more details about the temporary order you can click on the link under the ‘Regulatory action number’ column or click on the link under the ‘Supporting document’ to view the actual order or decision document issued by the ruling body.

A temporary order will not trigger the Disciplinary action flag on the profile.