Regulatory Alerts2021-08-12
CSA Notice of Consultation: Draft Amendments to Policy Statement to Regulation 41-101 respecting General Prospectus Requirements
The Canadian Securities Administrators are proposing amendments to clarify financial statement requirements for non-investment fund issuers in prospectuses, specifically regarding the interpretation of primary business and predecessor entities. These changes aim to reduce regulatory burden and inconsistent interpretations by providing guidance on when acquisitions require historical financial statements and clarifying that mining asset acquisitions do not always constitute a business. The public comment period for these draft amendments and consequential updates to continuous disclosure obligations closes on October 11, 2021.
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