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Companies - Canada

Canadian Companies Traded in the U.S.A.

  • International companies with securities traded in the U.S. must file reports with the Securities & Exchange Commission  (SEC).
  • The SEC  is the national regulator that public companies must file with.
  • All filings are found in the EDGAR database.
  • Who files:
    • U.S. public parent companies
    • International companies with securities traded in the U.S. must also file (20F)

 Most frequently referenced filings: (Note: Annual Reports are NOT an SEC Filing)

  • 20F = annual filing of non U.S. public parent companies trading in the U.S.
  • 10K = company's annual financials (THE major filing)
  • 10Q = company's unaudited quarterly financials
  • 8K = disclosure of unscheduled significant events
  • DEF 14A (Proxy Statement) = matters voted on at annual shareholders meeting
  • 6-K = filing by foreign issuers  which contains any information that a foreign company issues to its local securities regulators, investors or stock exchange

What's in an MD&A?

Management's explanation of events affecting the company's performance and management's expectations for the coming year, including:

  • core business
  • objectives and strategy
  • capability to deliver results - resources, risks and relationships
  • results and outlook
  • key performance measures and indicators