Canadian regulators warn on medical marijuana disclosures

Companies rushing to enter Canada's fledgling medical marijuana sector have not adequately disclosed potential business risks to investors, Canadian securities regulators said on Monday. A review by the umbrella Canadian Securities Administrators (CSA) group found "unbalanced and promotional disclosure that often promoted the benefits, but failed to outline the risks involved," CSA head Bill Rice said. The CSA group, which includes regulators from Canada's 10 provinces and three territories, said its review found a lack of consistent and clear disclosure about the risks, cost and time required before an issuer can begin licensed operations. It also said disclosures by medical marijuana companies often have not discussed the many barriers and obligations involved in entering the industry.



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