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ARTICLE · 31 JANUARY 2024

New Access Model For Delivery Of Prospectuses

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On January 11, 2024, the Canadian Securities Administrators (CSA) published final form amendments and changes to several national instruments...

CanadaCorporate/Commercial Law
Ben McLaughlin
Ben McLaughlin
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On January 11, 2024, the Canadian Securities Administrators (CSA) published final form amendments and changes to several national instruments and the related companion policies to implement an access model delivery (Access Model) for prospectuses of non-investment fund reporting issuers (the CSA Notice). The Access Model is designed to provide issuers with the option to provide digital access to, and notice of, preliminary and final prospectuses via SEDAR+ rather than physical paper delivery, as is currently required. Provided all necessary approvals are obtained, the Access Model is expected to come into force on April 16, 2024.

The Access Model was proposed as a modernized, cost-effective, and environmentally friendly option for the delivery of prospectuses, similar to the notice and access model implemented in 2013, which permits certain proxy materials to be provided to securityholders electronically. Similarly, the Access Model will provide issuers with the

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