Regulatory Alerts2020-08-06
Regulation to amend Regulation 45-106 respecting Prospectus Exemptions (Syndicated Mortgages)
Canadian securities regulators amended Regulation 45-106 to establish specific prospectus exemptions and disclosure requirements for syndicated mortgages. The amendments define key terms such as syndicated mortgage and qualified appraiser, while mandating that issuers provide independent appraisals and detailed offering memorandums to investors. These changes aim to enhance transparency by requiring specific risk disclosures, property valuations, and information regarding the issuer, borrower, and administration of the mortgage.
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