News Releases
Canadian securities regulators seek comment on proposed amendments to prospectus rules
Jul 15, 2011
Members of the Canadian Securities Administrators (CSA) have published for comment proposed amendments to National Instrument (NI) 41-101 General Prospectus Requirements, NI 44-101 Short Form Prospectus Distributions, NI 44-102 Shelf Distributions, NI 81-101 Mutual Fund Prospectus Disclosure, and related policies and consequential amendments.
The primary purpose of the proposed amendments is to amend the prospectus rules and their related companion policies to address user experience and the CSA’s experience with the prospectus rules since the implementation of the general prospectus rule, NI 41-101, on March 17, 2008.
The proposed amendments are intended to:
- clarify certain provisions of the prospectus rules;
- address significant identified gaps in the prospectus rules;
- modify certain requirements in the prospectus rules to enhance their effectiveness;
- remove or streamline certain requirements in the prospectus rules that are burdensome for issuers and of limited utility for investors or securityholders; and
- codify prospectus relief that has been granted in the past.
The CSA is seeking written comments from investors and industry on the proposed amendments. To comment, please refer to the CSA Notice and Request for Comment announcing the proposed amendments to NI 41-101, NI 44-101, NI 44-102 and NI 81-101, which is available on CSA member websites. The comment period is open until October 14, 2011.
The CSA, the council of the securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.
For more information:
| Mark Dickey Alberta Securities Commission 403-297-4481 |
Sylvain Théberge Autorité des marchés financiers 514-940-2176 |
| Richard Gilhooley British Columbia Securities Commission 604-899-6713 |
Carolyn Shaw-Rimmington Ontario Securities Commission 416-593-2361 |
| Ainsley Cunningham Manitoba Securities Commission 204-945-4733 |
Wendy Connors-Beckett New Brunswick Securities Commission 506-643-7745 |
| Natalie MacLellan Nova Scotia Securities Commission 902-424-8586 |
Jennifer Anderson Saskatchewan Financial Services Commission 306- 798-4160 |
| Janice Callbeck PEI Securities Office Office of the Attorney General 902-368-6288 |
Doug Connolly Financial Services Regulation Div. Newfoundland and Labrador 709-729-2594 |
| Ken Kilpatrick Yukon Securities Registry 867-667-5466 |
Louis Arki Nunavut Securities Office 867-975-6587 |
| Donn MacDougall Northwest Territories Securities Office 867-920-8984 |