CSA adopts changes to the offering memorandum prospectus exemption
Dec 08, 2022
On December 8, 2022, the Canadian Securities Administrators (CSA) published changes to the offering memorandum prospectus exemption.
The amendments set out new disclosure requirements for issuers engaged in “real estate activities” and issuers that are “collective investment vehicles.” Many issuers using the offering memorandum exemption are issuers that meet these definitions, and some already provide disclosure that will meet the new requirements. Several amendments also clarify or streamline parts of the instrument or improve disclosure for investors.
Provided all necessary ministerial approvals are obtained, the amendments will come into force on March 8, 2023.
Review the press release and amendments.