A management cease trade order is a cease trade order that prevents trading in securities of a reporting issuer by the Chief Executive Officer, Chief Financial Officer, members of the board of directors or other persons who had or may have access to material information that has not been publicly disclosed. They are often provided when the reporting issuer has failed to comply with continuous disclosure obligations.

See CSA Notice 51-322 Reporting Issuer Defaults and Practice Note, Disclosure Obligations of Reporting Issuers.