Regulatory Alerts2023-09-21
Draft Regulation to Amend Regulation 44-102 Respecting Shelf Distributions for Well-Known Seasoned Issuers
Canadian securities regulators have introduced draft amendments to Regulation 44-102 to establish a new Part 9B governing distributions under Well-Known Seasoned Issuer base shelf prospectuses. The amendments define eligibility criteria based on market capitalization thresholds, continuous disclosure compliance, and clean regulatory history, while extending the receipt lapse date for these prospectuses to 37 months. Issuers meeting these standards are exempt from filing preliminary prospectuses and certain standard disclosure items, streamlining the capital raising process for large, established entities.
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