Regulatory Alerts2024-04-16
Regulation 44-103 Respecting Post-Receipt Pricing
The regulator issued Regulation 44-103 to establish the PREP procedures, allowing issuers to distribute securities using a base prospectus that omits specific pricing and financial details until after a receipt is obtained. The regulation defines the permissible omissions, such as public offering prices and underwriting fees, and mandates that a supplemented prospectus containing this information be filed and made accessible to purchasers. It further outlines jurisdiction-specific requirements for document access via SEDAR+, procedures for delivering copies, and the statutory rights of withdrawal or cancellation available to investors.
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