The Canadian Securities Administrators (the “CSA”) have published for comment proposed amendments (the “Proposal”) to National Instrument 45-106 Prospectus and Registration Exemptions (“NI 45-106”). The Proposal seeks to: amend the existing prospectus exemption relating to short-term debt securities (the “Short-Term Debt Exemption”); and create a new prospectus exemption for the sale of short-term securitized products […]
Changes Proposed for Exempt Offerings of Short-Term Debt and Securitized Products in Canada
January 30, 2014 by 1 Comment
New CSA Guidance for Exempt Market Dealers on Updating ‘Know-Your-Client’ Information
January 10, 2014 by Leave a Comment
On January 9, 2014, the Canadian Securities Administrators (CSA) published CSA Staff Notice 31-336 that provides industry guidance on, among other things, when exempt market dealers (EMDs) need to update their ‘know-your-client’ (KYC) information. The CSA states that an EMD should update KYC information at least annually or more frequently if there is a material […]
Changing Your Mind: Part I – Two Day Cancellation Rights under the Offering Memorandum Exemption
December 30, 2013 by Leave a Comment
By Alixe Cormick and Brian Koscak Do you not hate shopping in stores that will not let you return items? We have all purchased an item we were excited to acquire, but then changed our mind and returned it the following day. Return policies in retail stores vary from no returns allowed, to bring us […]
When Do Start-Ups Have to Register as a Dealer in Canada – Proposed Amendments to NI 31-103
December 29, 2013 by 1 Comment
This article examines proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations (NI 31-103) that provides additional guidance to clarify when, and if, a start-up or early stage issuer including, a technology or mining issuer, has to register as a dealer under NI 31-103. A start-up or early stage issuer that […]
