Regulatory Alerts2023-09-13
Regulation 45-106 respecting Prospectus Exemptions
Canadian securities regulators issued Regulation 45-106 to establish exemptions from the prospectus requirement for the distribution of securities under the Securities Act. The regulation defines key terms such as accredited investor, eligible investor, and issuer, while outlining specific exemption categories including those for family, friends, business associates, and minimum amount investments. It sets forth the conditions and restrictions under which issuers and dealers may rely on these exemptions to trade securities without filing a prospectus.
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