Regulatory Alerts2023-09-21
Amendments to Policy Statement 11-202 Respecting Process for Prospectus Reviews in Multiple Jurisdictions
The securities regulators have amended Policy Statement 11-202 to update key definitions and establish new procedures for Well-known Seasoned Issuer base shelf prospectuses. The revisions clarify that these specific prospectuses do not qualify for the passport system because they bypass preliminary filings and rely on Regulation 11-102. Consequently, receipts for WKSI base shelf prospectuses are automatically deemed issued in every jurisdiction where they are filed, streamlining cross-border distribution requirements.
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