Regulatory Alerts2025-11-28
Policy Statement 11-202 Respecting Process for Prospectus Reviews in Multiple Jurisdictions
Canadian securities regulators issued Policy Statement 11-202 to standardize the filing and review of preliminary and final prospectuses across multiple Canadian jurisdictions under the passport system. The statement designates a principal regulator to conduct primary reviews while coordinating with the Ontario Securities Commission for dual prospectuses, establishing clear timelines for comment issuance and receipt conditions. It further outlines procedures for identifying the principal regulator based on issuer connections, managing discretionary changes, and handling opt-outs to streamline multi-jurisdictional securities distributions.
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