Regulatory Alerts2024-03-28
Amendments to Policy Statement to Regulation 44-102 respecting Shelf Distributions
Securities regulatory authorities have amended Policy Statement 44-102 to clarify delivery obligations and purchaser rights regarding shelf distributions under Part 6A of the Regulation. The updates specify that statutory rescission and withdrawal periods commence upon the purchaser's receipt of all relevant shelf prospectus supplements and detail jurisdiction-specific notice requirements. Additionally, the policy establishes distinct access procedures for British Columbia, Quebec, New Brunswick, and Alberta, while noting that structured notes generally remain distributed under MTN programs rather than the Part 6A access model.
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