CSA publish guidance for Cease Trade Order Database users

August 24, 2012

Staff of the CSA yesterday released a notice setting out recent and upcoming changes to the Cease Trade Order Database and to provide guidance to users of the database. The database, which is publicly searchable, contains all cease trade orders issued by participating CSA members and allows for the dissemination of those orders to subscribers. 

Ultimately, the guidance provides information regarding recent changes respecting the database's use of stock symbols, security identifiers and date format, while explaining the upcoming change to the classification of cease trade orders. Specifically, cease trade orders will now be classified into two distinct groups: (i) orders that ban trading in securities of a reporting issuer or a non-reporting issuer; and (ii) orders that ban trading by certain individuals and/or companies, in each case regardless of whether the order resulted from a continuous default of the issuer or an enforcement action. Where orders fall into both categories, the orders will appear in both categories and two distinct notifications will be sent out to subscribers.

For more information, see CSA Staff Notice 11-318.

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