Part II – Canadian Securities Regulators Propose New ‘Asset Backed Commercial Paper’ Exemption

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By: Brian Koscak, Jonathan Fleisher, Alison Manzer and Michael Brown The Canadian Securities Administrators (the CSA) have published for comment proposed amendments (the 2014 Proposals) to National Instrument 45-106 Prospectus and Registration Exemptions (NI 45-106). The 2014 Proposals seek to: amend the existing prospectus exemption relating to short-term debt securities by imposing different credit rating […]

Part I – Canadian Securities Regulators Propose New ‘Commercial Paper’ Exemption

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By: Brian Koscak, Alison Manzer, Jonathan Fleisher and Michael Brown  The Canadian Securities Administrators (the CSA) have published for comment proposed amendments (the 2014 Proposals) to National Instrument 45-106 Prospectus and Registration Exemptions . The 2014 Proposals seek to amend the existing prospectus exemption for short-term debt securities by imposing different credit rating requirements and […]

January 2014 Equity Crowdfunding Conference in Canada – Free Webinar

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On January 15, 2014, the Rotman School of Management at the University of Toronto held a half day conference on Equity Crowdfunding in Canada. The conference was about the evolution of Equity Crowdfunding in the Canadian capital markets. Here is the link to the event calendar where you can access the webinar.  It is under “2014” […]

Proposed Changes on Who Can Sell Commercial Paper in Canada

The Canadian Securities Administrators (the CSA) have published proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions And Ongoing Registrant Obligations (NI 31-103) on December 5, 2013 (the Proposed NI 31-103 Amendments), which included, among other things, a new short-term debt registration exemption under s. 8.22.1 of NI 31-103 (the Proposed registration exemption). Currently, all CSA […]

Proposed Short-Term Debt Exemption in Canada – A Chart Simplifying the Credit Rating Requirement

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This is a follow-up to a recently posted blog on January 30, 2014 titled, “Changes Proposed for Exempt Offerings of Short-Term Debt and Securitized Products in Canada.” The designated rating provision under the existing Short-Term Debt Exemption in Section 2.35 of National Instrument 45-106 Prospectus and Registration Exemptions (NI 45-106) requires an issuer of short-term […]