Regulatory Alerts2023-06-09
Regulation 45-106 respecting Prospectus Exemptions
The Canadian Securities Administrators issued Regulation 45-106 to establish uniform prospectus exemptions for the distribution of securities across participating jurisdictions. The regulation defines key terms such as accredited and eligible investors, and outlines specific exemptions including those for private placements, minimum amount investments, and trades to family, friends, and business associates. It also sets forth requirements for the resale of securities and the distribution of short-term securitized products to ensure market integrity while facilitating capital formation.
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