Regulatory Alerts2025-11-06
Changes to Policy Statement to Regulation 44-102 Respecting Shelf Distributions
Canadian securities regulators have amended the Policy Statement to Regulation 44-102 to establish Part 9B, which governs distributions under Well-Known Seasoned Issuer base shelf prospectuses. The amendments introduce a deemed receipt mechanism that eliminates the need for prior regulatory review or the passport system for eligible issuers filing these prospectuses. The document further details specific requirements for annual eligibility confirmation, pre-marketing prohibitions, exemptive relief procedures, and calculations for public debt and foreign currency reporting.
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