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ARTICLE · 24 JANUARY 2014

FAIR Canada Provides Commentary On The OSC's Proposed Offering Memorandum Exemption

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The Canadian Foundation for Advancement of Investor Rights recently published an article relating to the new offering memorandum exemption proposed by the OSC which will be published for public comment in the first quarter of 2014.

CanadaGovernment, Public Sector
Adria Leung Lim
Adria Leung Lim
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The Canadian Foundation for Advancement of Investor Rights ("FAIR Canada") recently published an article relating to the new offering memorandum ("OM") exemption proposed by the OSC which will be published for public comment in the first quarter of 2014.

Unlike all other Canadian provinces and territories, the OSC previously chose not to introduce the OM exemption because it considered the OM exemption too risky for retail investors. However, in an effort aimed to harmonize itself with the other provinces and to reduce inefficiencies and confusion in the market, the OSC is proposing that the OM exemption, which will be modelled after the Alberta regime, be available to purchasers satisfying certain eligibility criteria in order to invest more than $10,000.

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