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ARTICLE · 16 DECEMBER 2021

Canadian Securities Regulators Adopt Exemptions From Certain Base Shelf Prospectus Requirements

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On December 6, 2021, the Canadian Securities Administrators (CSA) announced temporary exemptions providing for the adoption of a "well-known seasoned issuer" (WKSI) program applicable...

CanadaCorporate/Commercial Law
Jason Wang
Jason Wang
Harinder Basra
Harinder Basra
Kristopher R. Hanc
Kristopher R. Hanc
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On December 6, 2021, the Canadian Securities Administrators (CSA) announced temporary exemptions providing for the adoption of a "well-known seasoned issuer" (WKSI) program applicable to certain issuers filing base shelf prospectuses. The exemptions, effective January 4, 2022, will exempt WKSIs that satisfy certain conditions from the requirement to file and obtain a receipt for a preliminary base shelf prospectus, making the process more efficient and streamlined for WKSIs to raise capital in Canada. The proposed exemptions are a further step in the CSA's initiative to reduce the regulatory burden on capital market participants and the changes are expected to make the process for raising capital more efficient and streamlined for WKSIs.

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