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ARTICLE · 01 FEBRUARY 2024

All Access Passes For Prospectuses! The CSA Introduces "Access-Equals-Delivery" Model‎

DLA Piper
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Reporting issuers and dealers will soon be able to save costs and avoid the administrative burden ‎associated with printing and mailing prospectuses to investors.‎

CanadaCorporate/Commercial Law
Derrick Auch
Derrick Auch
Mitchell Smith
Mitchell Smith
Sophie Gadbois
Sophie Gadbois
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Reporting issuers and dealers will soon be able to save costs and avoid the administrative burden ‎associated with printing and mailing prospectuses to investors.‎

On January 11, 2024, the Canadian Securities Administrators (the "CSA") posted final amendments to the ‎‎"Access-Equals-Delivery" model ‎ ‎(the "Access Model") for the delivery of prospectuses of non-‎investment fund reporting issuers. The Access Model will take effect on April 16, 2024, subject to the ‎CSA obtaining the requisite approvals. The Access Model will not be available for investment funds. ‎

Under the new Access Model, reporting issuers will now be able to deliver their prospectuses to ‎investors by filing the document on SEDAR+ and issuing an associated news release. This approach is ‎intended to modernize the way investors access public documents, while upholding investor protection ‎and aligning with the shift towards electronic document consumption. ‎

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