Regulatory Alerts2022-04-07
Draft Amendments to Policy Statement to Regulation 44-102 respecting Shelf Distributions
Securities regulatory authorities have issued draft amendments to Policy Statement 44-102 to align shelf distribution rules with Part 6A of the Regulation. The updates clarify that statutory rights of rescission or withdrawal commence upon the purchaser's receipt of all relevant shelf prospectus supplements. Additionally, the amendments establish specific delivery obligations and exemptions for dealers accessing base shelf prospectuses and supplements, particularly distinguishing requirements in British Columbia from other jurisdictions.
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