Wednesday August 2 2017

News Source: Global Exchanges

Focus: Foreign Investment

Type: General




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.