If the Canadian Securities Commission requires disclosure of certain information, but there is a non-disclosure agreement (NDA) in place, then the company or individual may face a conflict between their obligations to disclose the information and their obligations under the NDA.
In general, the obligation to comply with securities regulations and disclosure requirements takes precedence over any conflicting contractual obligations such as an NDA. In Canada, securities laws and regulations are enforced by provincial securities commissions, and companies and individuals must comply with these laws.
If there is a conflict between securities laws and an NDA, the company or individual may need to seek legal advice to determine the best course of action. In some cases, it may be possible to negotiate an amendment to the NDA to allow for the required disclosure, or to seek an exemption from the securities commission.
However, it is important to note that failure to comply with securities laws and regulations can result in serious consequences, including fines, penalties, and legal action. Therefore, it is important to ensure that any disclosure requirements are met, even if it means breaching an NDA.