The Canadian Securities Administrators said Thursday they are moving ahead with last October’s voluntary pilot that lets “eligible” public companies on the TSXV and CSE report financial results just twice a year, exempting them from filing first-and third-quarter reports. (The Logic)

Talking point: The move comes as the U.S. Securities and Exchange Commission is reportedly preparing a proposal that could allow public companies to report only semi-annually. CSA spokesperson Ilana Kelemen said in an email that the pilot builds on years of consultations, including proposals dating back to 2011. She said the initiative aims to reduce compliance burdens for smaller issuers “without compromising investor protection,” and that the regulator continues to “monitor international developments.” Asked whether the organization plans to expand the pilot to a broader group of public companies, CSA chair Stan Magidson said that they intend to launch a wider “rule-making project” on voluntary semi-annual reporting, using lessons from the pilot.

Editor’s note: This briefing has been updated to include comments by Magidson received after publication.