Regulatory Alerts2022-01-05
Regulation 45-106 Respecting Prospectus Exemptions
The Canadian Securities Administrators 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 and eligible investor, and outlines specific exemptions including those for private placements, family, friends and business associates, and minimum amount investments. It also provides detailed rules for offering memorandum distributions and the resale of securities, ensuring investor protection while facilitating capital formation.
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