Canadian oil and gas companies' disclosure rules getting overhauled

The first major overhaul in 2 decades of Canadian disclosure regulations for publicly traded oil and gas companies is now well under way.The Alberta Securities Commission (ASC) is spearheading the project to develop new legislation that is expected to be adopted by other regulatory agencies across Canada.New regulation objectiveASC spokesman Stephen Munson says the objective is to foster both investor protection and efficient capital raising by public companies by enhancing the quality, timeliness, and comparability of information provided by public oil and gas companies about reserves and other related estimates.Munson says the new standards would replace a "somewhat limited and dated po...

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