Public company disclosure has experienced a resurgence in popularity in recent years as a topic of focus for regulators and commentators in Canada. This development has been driven in part by the release in 1997 of the Final Report of the Toronto Stock Exchange Committee on Corporate Disclosure, entitled "Responsible Corporate Disclosure -- A Search for Balance". This report (the "TSE Report") recommended, among other things, the introduction of a new statutory regime which would increase the exposure of public company directors and officers to potential civil actions against them personally for violations of continuous disclosure laws committed by their companies. In addition, regulators have been commenting publicly on their concerns regarding selective disclosure to analysts and other disclosure-related matters more so than in the past.