Regulatory Alerts2019-05-09
Draft Amendments to Policy Statement to Regulation 44-102 respecting Shelf Distributions At-the-Market Distributions
Securities regulatory authorities have issued draft amendments to Policy Statement 44-102 to establish a new Part 5 governing at-the-market distributions of equity securities under shelf prospectuses. These amendments define highly-liquid securities by referencing IIROC standards and mandate specific disclosure requirements, including the identification of designated news releases and forward-looking prospectus certificates. The rules further outline issuer responsibilities for assessing material facts, minimizing market impact, and managing filing jurisdictions for trades executed directly on securities exchanges.
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