TORONTO – The Canadian Securities Association says its reconsidering the appropriateness of its disclosure policy for cannabis companies with U.S. operations after the U.S. did away with the Cole Memorandum.
In October, the CSA said cannabis companies with U.S. operations were clear to list in Canada so long as they disclosed the risks to investors.
It said it would re-examine that stance if the U.S. federal government’s approach changed.
Earlier this month, U.S. Attorney General Jeff Sessions rescinded the Obama-era memo, which suggested the federal government would not intervene in states where the drug is legal even as marijuana remained illegal under federal law.
The CSA says it will communicate more details about its position shortly.
The CSA is the umbrella organization for Canada’s provincial and territorial securities regulators.