Regulatory Alerts2020-08-31
Regulation 44-102 respecting Shelf Distributions
The securities regulatory authorities in Canada issued Regulation 44-102 to establish the shelf distribution procedures for qualified issuers under the Securities Act. The regulation defines key terms and sets out specific qualification criteria and receipt effectiveness periods for various security types, including short form prospectuses, asset-backed securities, and debt instruments. It mandates that issuers maintain current financial statements and ratings to ensure the continued validity of their shelf prospectus receipts for up to 25 months.
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