Securities Regulators Propose Amendments To Create Permanent Canadian WKSI Regime

On September 21, 2023 the Canadian Securities Administrators (CSA) published for comment proposed amendments to National Instrument 44-102 Shelf Distributions, and related consequential amendments to certain rules and policies, to permanently implement an expedited base shelf prospectus regime for "well-known seasoned issuers" (WKSIs) in Canada, making it faster and more efficient for these issuers to raise capital. The comment period expires on December 20, 2023.

What you need to know

• The proposed amendments would permit WKSI-eligible issuers to:
  • File a final base shelf prospectus, and be immediately deemed to have received a receipt for that prospectus, without first filing a preliminary base shelf prospectus or undergoing any regulatory review;