Regulatory Alerts2025-04-17
Decision No. 2025-PDG-0027: Coordinated General Decision 45-933 Regarding Exemption from Investment Ceiling for Reinvestments Under Prospectus Exemption for Offering Notice
The Autorité des marchés financiers (AMF) issued Decision No. 2025-PDG-0027 to exempt eligible investors from the standard investment ceiling when reinvesting proceeds from the sale of securities of the same issuer under the offering notice exemption. This exemption applies provided the total acquisition cost does not exceed $100,000 plus the proceeds from prior sales (capped at $100,000), ensuring that investor protection is maintained without compromising market efficiency. The decision takes effect on April 17, 2025, allowing issuers to facilitate capital collection while adhering to specific investment limits.
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