Regulatory Alerts2023-03-08
Regulation 45-106 respecting Prospectus Exemptions
The Canadian Securities Administrators issued Regulation 45-106 to establish uniform prospectus exemptions for the distribution of securities across participating jurisdictions. The regulation defines key terms such as accredited and eligible investors, and outlines specific exemptions including those for private placements, minimum amount investments, and offerings to insiders or close personal relationships. It also provides detailed rules for the resale of restricted securities and exemptions for securitized products and investment funds to facilitate capital formation while maintaining investor protection standards.
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