Regulatory Alerts2024-04-16
Policy Statement to Regulation 44-102 Respecting Shelf Distributions
Canadian securities regulatory authorities issued this policy to provide guidance on the application of Regulation 44-102 regarding shelf distributions under short form prospectuses. The document clarifies issuer liability for prospectus certificates, permits marketing using preliminary supplements before public pricing, and mandates pre-clearance for novel derivatives and asset-backed securities. It further details permissible omissions from base shelf prospectuses, requirements for shelf prospectus supplements, and the commencement of purchaser statutory rights upon receipt of all relevant documentation.
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