Canadian securities regulators announce review of minimum amount and accredited investor prospectus exemptions

VANCOUVER, Nov. 10, 2011 /CNW/ - The Canadian Securities Administrators (CSA) today announced that they are reviewing the $150,000 minimum amount prospectus exemption (the minimum amount exemption) and the accredited investor prospectus exemption (AI exemption) contained in National Instrument 45-106 Prospectus and Registration Exemptions.

"The CSA is undertaking this consultation with a view to ensuring that both of these exemptions continue to meet the needs of market participants by striking the appropriate balance between investor protection and efficient capital-raising in Canadian capital markets," said Bill Rice, Chair of the CSA and Chair and CEO of the Alberta Securities Commission.

As part of the review, the CSA will be consulting with the various stakeholders, including investors, issuers, registrants and professional advisors.

At the conclusion of the review, CSA staff may recommend either retaining the exemptions in their current form, or may propose changes based on the market participant feedback.

The consultation note, published today and available on the CSA member websites, provides more information on the scope of the review, including some background on these exemptions and specific consultation questions for consideration.

The public comment period is open until February 29, 2012.

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

SOURCE Canadian Securities Administrators

For further information:

Carolyn Shaw-Rimmington
Ontario Securities Commission
416-593-2361  
  Sylvain Théberge
Autorité des marchés financiers
514-940-2176
     
Mark Dickey
Alberta Securities Commission
403-297-4481      
  Richard Gilhooley
British Columbia Securities Commission
604-899-6713
     
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

 


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