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ARTICLE · 23 JANUARY 2024

Greater Flexibility For Reporting Issuers: Access Equals Delivery

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As an update to our blog post dated April 19, 2022, on January 11, 2024, the Canadian Securities Administration (CSA) published amendments implementing an "Access Equals Delivery" model...

CanadaCorporate/Commercial Law

As an update to our blog post dated April 19, 2022, on January 11, 2024, the Canadian Securities Administration (CSA) published amendments implementing an "Access Equals Delivery" model (AED Model) to generally permit electronic delivery of prospectuses in Canada for non-investment fund reporting issuers, including venture issuers. The AED Model will come into force on April 16, 2024, subject to receiving expected regulatory and ministerial approvals.

Before the proposed amendments, Canadian securities legislation required reporting issuers to physically deliver prospectuses to investors. Many issuers incurred significant costs for printing and mailing the documents required to be delivered under Canadian securities laws. The AED Model will allow issuers to save on costs while allowing investors to quickly access information electronically, in an environmentally-friendly manner.

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