TORONTO, Nov. 25, 2011 /CNW/ - The Canadian Securities Administrators
(CSA) today published for a second comment period amendments to
National Instrument 41-101 General Prospectus Requirements, including Proposed Prospectus Form 41-101F3 Information Required In A Scholarship Plan Prospectus, which introduces a tailored disclosure form for scholarship plans.
The CSA are proposing revisions to the amendments of NI 41-101, first
published in March 2010, based on feedback received on that initial
publication. The proposed revisions aim to further clarify disclosure
requirements related to scholarship plans.
The Plan Summary document remains the focus of the Prospectus Form and
is intended to help investors better understand scholarship plans.
"The Prospectus Form is designed to provide investors with a simpler and
clearer understanding of the potential benefits, risks and costs of
investing in scholarship plans," said Bill Rice, Chair of the CSA and
Chair and CEO of the Alberta Securities Commission. "By ensuring the
form disclosure is effective, we aim to help investors make more
informed investment decisions regarding saving for their children's
The Prospectus Form also addresses a number of issues in current
scholarship plan disclosure identified through previous CSA compliance
and prospectus reviews, as well as the 2008 Review of Registered Education Savings Plan Industry Practices.
The CSA is seeking written comments from investors and industry
participants on the proposed amendments in the Notice. To comment,
please refer to the CSA Notice and Request for Comment announcing
proposed amendments to National Instrument 41-101 General Prospectus Requirements and Proposed Form 41-101F3 Information Required In A Scholarship Plan Prospectus, which are available on CSA member websites.
The comment period is open until January 24, 2012.
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
For further information:
| Carolyn Shaw-Rimmington |
Ontario Securities Commission
| Mark Dickey |
Alberta Securities Commission
| Sylvain Théberge |
Autorité des marchés financiers
| Richard Gilhooley |
British Columbia Securities Commission
| Ainsley Cunningham |
Manitoba Securities Commission
| Wendy Connors-Beckett |
New Brunswick Securities Commission
| Natalie MacLellan |
Nova Scotia Securities Commission
| Jennifer Anderson |
Saskatchewan Financial Services
| Janice Callbeck |
PEI Securities Office
Office of the Attorney General
| Doug Connolly |
Financial Services Regulation Div.
Newfoundland and Labrador
| Helena Hrubesova |
Yukon Securities Registry
| Louis Arki |
Nunavut Securities Office
| Donn MacDougall |