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2023-06-15

Regulation to Amend Regulation 62-103 Respecting the Early Warning System and Related Take-Over Bid and Insider Reporting Issues

The Quebec securities regulator amends Regulation 62-103 to update the Early Warning System framework by expanding the definition of financial institution. This change formally incorporates authorized foreign banks listed in Schedule III of the federal Bank Act into the reporting category. The amended regulation officially takes effect on September 13, 2023.

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Autorite des marches financiers Quebec

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REGULATION TO AMEND REGULATION 62-103 RESPECTING THE EARLY WARNING SYSTEM AND RELATED TAKE-OVER BID AND INSIDER REPORTING ISSUES Securities Act (chapter V-1.1, s. 331.1, par. (34))

  1. Section 1.1 of Regulation 62-103 respecting The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (chapter V-1.1, r. 34) is amended by adding, in paragraph (1) and after subparagraph (c) of the definition of “financial institution”, the following, with the necessary changes: “(d) an authorized foreign bank named in Schedule III of the Bank Act (S.C., 1991, c. 46);”.
  2. This Regulation comes into force on 13 September 2023.
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