Canadian Securities Regulators Publish Final Amendments on Report of Exempt Distribution

TORONTO, July 19, 2018 /CNW/ - The Canadian Securities Administrators (CSA) today published final amendments to National Instrument 45-106 Prospectus Exemptions, which revise Form 45-106F1 Report of Exempt Distribution (Report). The CSA also made a related change to Companion Policy 45-106CP Prospectus Exemptions.

Issuers and underwriters who rely on certain prospectus exemptions to distribute securities are required to file the Report within the prescribed timeframe. The amendments aim to provide greater clarity and flexibility regarding the certification requirement of the Report and streamline certain information requirements, while still providing regulators with the information necessary for oversight and policy development.

Provided all necessary ministerial approvals are obtained, the amendments will come into force on October 5, 2018.

The CSA is also publishing a revised version of CSA Staff Notice 45-308 (Revised) Guidance for Preparing and Filing Reports of Exempt Distribution under National Instrument 45-106 Prospectus Exemptions (CSA Staff Notice 45-308) to reflect the revisions.

A notice of amendments and revised CSA Staff Notice 45-308 can be found on CSA members' websites.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

SOURCE Canadian Securities Administrators

Kristen Rose, Ontario Securities Commission, 416-593-2336; Andrew Poon, British Columbia Securities Commission, 604-899-6880; Alison Trollope, Alberta Securities Commission, 403-297-2664; Caroline Trottier, Autorité des marchés financiers, 418-525-0337 #4115; Jason (Jay) Booth, Manitoba Securities Commission, 204-945-1660; Sara Wilson, Financial and Consumer Services, Commission, New Brunswick, 506-643-7045; David Harrison, Nova Scotia Securities Commission, 902-424-8586; Steve Dowling, Government of Prince Edward Island, Superintendent of Securities, 902-368-4550, Craig Whalen, Office of the Superintendent of Securities, Newfoundland and Labrador, 709-729-5661; Rhonda Horte, Office of the Yukon Superintendent of Securities, 867-667-5466, Jeff Mason, Nunavut Securities Office, 867-975-6591; Tom Hall, Office of the Superintendent of Securities, Northwest Territories, 867-767-9305; Shannon McMillan, Financial and Consumer Affairs, Authority of Saskatchewan, 306-798-4160