Regulatory Alerts2023-03-09
Final Amendments Relating to the Offering Memorandum Prospectus Exemption
The Minister of Finance approved amendments to Regulation 45-106 respecting Prospectus Exemptions, issued by the Autorité des marchés financiers to update the offering memorandum exemption framework. The changes introduce new definitions for collective investment vehicles and related parties, while imposing stricter disclosure requirements regarding misrepresentations, material changes, and the electronic filing format of offering memoranda. Additionally, the regulation mandates independent appraisals for real estate activities and updates Form 45-106F2 to enhance transparency for investors regarding fund usage, related party transactions, and issuer business details.
Share