Regulatory Alerts2019-03-15
CSA Second Notice of Consultation - Amendments relating to Syndicated Mortgages
The Canadian Securities Administrators issued revised draft regulations to amend prospectus and registration exemptions for syndicated mortgages following feedback on their March 2018 proposal. The changes introduce dealer registration and prospectus exemptions for qualified syndicated mortgages in several jurisdictions, tighten offering memorandum requirements by reducing the property appraisal validity period to six months, and align implementation timelines to occur simultaneously on December 31, 2019. These amendments aim to enhance investor protection and harmonize regulatory treatment across CSA jurisdictions while maintaining local variations where necessary.
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