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ARTICLE · 28 JANUARY 2005

CSA Propose New National Instrument Harmonizing The Prospectus And Registration Exemptions

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The Canadian Securities Administrators (the CSA) have published for comment proposed National Instrument 45-106<I> – Prospectus and Registration Exemptions</I> (the Proposed National Instrument). The Proposed National Instrument consolidates and harmonizes the prospectus and registration exemptions contained in various provincial securities statutes and other instruments into a single national instrument.

CanadaFinance and Banking
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Article by Ernest McNee and Eric Moncik

This article was originally published in Blakes Bulletin on Securities Law - January 2005

©2005 Blake, Cassels & Graydon LLP

Highlights

  • Proposed National Instrument consolidates and harmonizes the prospectus and registration exemptions available in each Canadian jurisdiction into a single national instrument
    • Revised OSC Rule 45-501 consolidates many of Ontario’s local exemptions that are not included in the Proposed National Instrument
    • Québec has endorsed the Proposed National Instrument as part of a movement to harmonize its securities rules with the other Canadian jurisdictions

    The Canadian Securities Administrators (the CSA) have published for comment proposed National Instrument 45-106 – Prospectus and Registration Exemptions (the Proposed National Instrument). The Proposed National Instrument consolidates and harmonizes the prospectus and registration exemptions contained in various provincial securities statutes

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