Wednesday August 2 2017
News Source: Global Exchanges
Focus: Foreign Investment
Type: General
Country: Canada
Link: http://www.osc.gov.on.ca/en/NewsEvents_nr_20170629_osc-seeks-comment.htm
The Ontario Securities Commission (OSC) have published for a 90-day comment period revised OSC Rule 72-503 Distributions Outside Canada and proposed Companion Policy 72-503 Distributions Outside Canada.
The proposed rule would provide explicit prospectus and registration exemptions that would preserve current cross-border practices. It also responds to the challenges issuers and intermediaries face in determining whether a prospectus must be filed, or an exemption from the prospectus requirement must be relied upon, in connection with a distribution of securities to an investor outside Canada.
The revised rule would modernize and replace Interpretation Note 1 Distributions of Securities Outside of Ontario.
The OSC invites stakeholders to provide comments in writing by September 27, 2017.
Please click on the link above for further information.