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Canadian securities regulators streamline disclosure requirements for private foreign securities offerings to certain Canadian investors

  • Securities - CSA Image
  • Securities - OSC Image

Jun 26, 2015

On June 26, 2015, final amendments providing limited exemptions from certain disclosure requirements for offerings of foreign securities made in Canada on a private placement basis to permitted clients were released. Permitted clients are institutional and other sophisticated investors.

The Canadian Securities Administrators (CSA) announced the final implementation of amendments to National Instrument 33-105 Underwriting Conflicts (NI 33-105). Also published in final form are related CSA Multilateral Instrument 45-107 Listing Representation and Right of Action Disclosure Exemptions, Ontario amendments to OSC Rule 45-501Ontario Prospectus and Registration Exemptions and an Ontario-specific amendment to Form 45-106F1 Report of Exempt Distribution.

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