Regulatory Alerts2020-06-04
Regulation to amend Regulation 44-102 respecting Shelf Distributions
Canadian securities regulators amended Regulation 44-102 to introduce Part 9, establishing a comprehensive regulatory framework for at-the-market distributions of equity securities. The amendment requires issuers to file specific ATM prospectuses, disclose material agreements, and adhere to strict prohibitions on market stabilization activities by underwriters. Additionally, the regulation mandates periodic reporting of distribution proceeds and commissions, while exempting ATM distributions from the requirement to deliver prospectuses to purchasers.
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