Regulatory Alerts2024-04-16
Notice 47-201 Relating to Trading Securities Using the Internet and Other Electronic Means
Securities regulatory authorities issued Notice 47-201 to address investor protection concerns and jurisdictional issues arising from the use of the Internet and electronic means for trading and distributing securities. The notice establishes that posting an offer accessible in a local jurisdiction constitutes trading there, requiring compliance with registration and prospectus rules unless specific disclaimers and precautions are implemented. It further mandates strict record-keeping for electronic document recipients and outlines procedural requirements for internet-based road shows, including access controls and prospectus availability.
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