Canadian Securities Regulators Propose To Ease Restrictions On Marketing Prospectus Offerings

The Canadian Securities Administrators have published for comment significant proposed changes to their rules and policies governing the pre‐marketing and marketing of prospectus offerings, other than mutual fund offerings. The changes, if enacted, would loosen some of the current restrictions that limit the marketing activities of investment dealers involved in public offerings and clarify the positions of the regulators in certain areas.

A summary of the main proposals is set out below. Reference should be made to this link for further details: http://www.osc.gov.on.ca/en/SecuritiesLaw_rule_2 0111125_41‐101_rfc‐pro‐amd‐pre‐marketing.htm

"Testing of the Waters" Pre‐marketing Exemption for IPO Issuers