Canadian Regulators Finalize Changes To Marketing Rules For Prospectus Offerings

Yesterday, the Canadian Securities Administrators (CSA) published final amendments to their securities rules that will expand the scope of marketing activities that can be conducted in connection with prospectus offerings .

The amendments to National Instrument 41-101 General Prospectus Requirements and National Instrument 44-101 Short Form Prospectus Distributions  expressly codify permissible "pre-marketing" and "marketing" activities that can be conducted prior to and after the filing of a preliminary short or long form prospectus.  Not only do these amendments ease restrictions on the types of activities that can be conducted, they also expressly acknowledge and codify various marketing activities in a manner that better reflects the practical reality of how offerings are marketed.