Regulatory Alerts2021-05-20
Draft Amendments to Policy Statement to Regulation 44-101 respecting Short Form Prospectus Distributions
Canadian securities regulators have issued draft amendments to Policy Statement 44-101 to clarify the definitions of current Annual Information Forms and annual financial statements required for short form prospectus distributions. The amendments replace terminology such as 'special purpose issuers' with 'structured entities' and update references to specific regulatory forms and sections. Additionally, the changes reinforce that issuers must timely approve and file financial statements to ensure they are properly incorporated by reference, preventing delays intended to avoid inclusion in prospectuses.
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