Regulatory Alerts2023-06-09
Policy Statement to Regulation 45-102 Respecting Resale of Securities
Canadian securities regulators issued this policy statement to clarify the application of Regulation 45-102 regarding the resale of securities distributed under prospectus exemptions. The document details jurisdictional variations, including specific exclusions in Manitoba, Alberta, and Ontario, and mandates electronic filing via SEDAR+ for most jurisdictions. It further provides guidance on critical compliance requirements such as the 4-month restricted and seasoning periods, legending obligations, and specific exemptions for control distributions, pledged securities, and trades outside Canada.
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