Five Day Filing Deadline, Deemed Beneficial Ownership and Issuer Disclosure of Late Reports Included in Proposed Changes to the Insider Reporting Regime -- On December 18, 2008 the Canadian Securities Administrators published for comment proposed National Instrument 55-104 Insider Reporting Requirements and Exemptions, together with a companion policy and related consequential amendments. Comments are due by March 19, 2009.

type Securities and Capital Markets Alert - December 19, 2008