Revised Uniform Capital Markets Act And Proposed Initial Regulations Published Today

Today, the participating provinces and territory in the Cooperative Capital Markets Regulatory System achieved an important milestone towards implementation of the system by publishing a revised consultation draft of the uniform provincial and territorial capital markets act (now known as the Capital Markets Act), along with the drafts of the initial regulations proposed for adoption by the participating provinces and territory under the draft uniform act. These materials have been published for a 120-day public comment period.

Still to come are:

• provisions dealing with the interface mechanism with non-participating jurisdictions;
• proposed initial regulations relating to prospectus exemptions and relating to fees;