Regulatory Alerts2022-09-08
Regulation to amend Regulation 45-106 respecting Prospectus Exemptions
Canadian securities regulators amended Regulation 45-106 to introduce the Listed Issuer Financing Exemption, allowing reporting issuers with listed equity securities to distribute securities without a prospectus under specific conditions. The new Part 5A establishes detailed eligibility criteria, including aggregate market value thresholds, restrictions on use of proceeds, and mandatory disclosure via Form 45-106F19. The amendments also redefine 'market price' and 'published market' to support the calculation of market capitalization for these distributions.
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