Regulatory Alerts2021-12-06
CSA Staff Notice 44-306: Blanket Orders Exempting Well-known Seasoned Issuers from Certain Prospectus Requirements
The Canadian Securities Administrators issued temporary blanket orders exempting qualifying well-known seasoned issuers from specific base shelf prospectus requirements to reduce regulatory burden. These orders permit eligible issuers to file a final base shelf prospectus directly, thereby eliminating the need for a preliminary prospectus and accelerating the receipt issuance process. The exemptions apply to issuers meeting strict eligibility criteria regarding market capitalization, public float, and disclosure history, serving as a pilot program to evaluate future permanent rule amendments.
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