Regulatory Alerts2023-06-09
Policy Statement to Regulation 44-102 Respecting Shelf Distributions
Canadian securities regulatory authorities issued this policy statement to provide guidance on the shelf distribution procedures under National Instrument 44-102. The document clarifies issuer liability regarding prospectus certificates, permits marketing activities before filing supplements, and establishes a two-year effectiveness period for base shelf prospectuses. It further details requirements for distributing novel derivatives and asset-backed securities, specifies information that may be omitted from base prospectuses, and outlines rules for shelf prospectus supplements and amendments.
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