Regulatory Alerts2025-11-06
Changes to Policy Statement 11-202 Respecting Process for Prospectus Reviews in Multiple Jurisdictions
Canadian securities regulators have amended Policy Statement 11-202 to formally define the WKSI base shelf prospectus and clarify its procedural status. The revision excludes these prospectuses from the passport system because issuers neither file a preliminary prospectus nor indicate reliance on Regulation 11-102 through SEDAR+. As a result, receipts for WKSI base shelf prospectuses are automatically deemed issued in every jurisdiction where filed, removing the necessity for separate passport system applications.
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