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ARTICLE · 02 FEBRUARY 2009

Shake-Up Coming For Canadian Private Placement Regime?

Cassels
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Cassels

Cassels Brock & Blackwell LLP is a Canadian law firm focused on serving the transaction, advocacy,...

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In response to the seizure of the market for asset-backed commercial paper (ABCP) in Canada, the Canadian Securities Administrators formed a working group to consider certain regulatory issues arising out of this seizure.

CanadaCorporate/Commercial Law

In response to the seizure of the market for asset-backed commercial paper (ABCP) in Canada, the Canadian Securities Administrators formed a working group to consider certain regulatory issues arising out of this seizure. The working group prepared a consultation paper (the ABCP Paper), the purpose of which was to propose responses to the causes of the turbulence in the credit markets for which regulatory action may be necessary or appropriate and to seek public comment thereon. While the bulk of the ABCP Paper was focussed on the matters specific to the ABCP market, the working group concluded that the existing private placement regime applicable for all securities may require changes.

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