Regulatory Alerts2022-04-07
Draft Regulation to amend Regulation 44-102 respecting Shelf Distributions
Canadian securities regulators have introduced amendments to Regulation 44-102 to establish a new Part 6A governing access to shelf prospectus supplements and base shelf prospectuses. The changes permit issuers to satisfy delivery requirements by providing electronic access via SEDAR accompanied by a news release, while maintaining specific withdrawal and rescission rights for purchasers in most jurisdictions. Additionally, the draft updates exemptions for ATM distributions and mandates specific legends and disclosure statements in standard term sheets and marketing materials to ensure investors are directed to full disclosure documents on SEDAR.
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