Regulatory Alerts2020-09-17
CSA Notice of Consultation: Amendments Relating to the Offering Memorandum Prospectus Exemption
The Canadian Securities Administrators propose amendments to Regulation 45-106 to introduce tailored disclosure requirements for issuers engaged in real estate activities or operating as collective investment vehicles. These new rules mandate specific additional schedules and enhanced transparency regarding related-party transactions, portfolio performance, and property appraisals to address the evolving use of the Offering Memorandum exemption. The notice also outlines general amendments to streamline existing provisions and improve investor access to information, inviting public comments by December 16, 2020.
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