Regulatory Alerts2025-08-28
CSA Notice of Publication: Regulation to Amend Regulation 44-102 Respecting Shelf Distributions Relating to Well-known Seasoned Issuers
The Canadian Securities Administrators are publishing final amendments to Regulation 44-102 to establish a permanent expedited shelf prospectus regime for well-known seasoned issuers. Eligible issuers may file final base shelf prospectuses without preliminary review or regulatory receipt, omit certain disclosure details, and benefit from a 37-month effectiveness period to reduce regulatory burden and foster capital formation. The amendments align Canadian rules with U.S. standards, revise eligibility criteria including seasoning periods and penalty thresholds, and revoke previous temporary blanket orders effective November 28, 2025.
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