What's new in Securities Law and Policy? Check back often for the latest updates.
NOTE. Until rules or instruments become effective as evidenced by their publication in The Alberta Gazette (see section 225 of the Securities Act (Alberta)), they are subject to non-substantive changes. Should such changes occur, a revised version of the relevant rule or instrument will be published on this website.
Amendments to Prospectus Rules
14 May 2013
The Canadian Securities Administrators (CSA) have made amendments to National Instrument 41-101 General Prospectus Requirements, National Instrument 44-101 Short Form Prospectus Distributions, National Instrument 44-102 Shelf Distributions and National Instrument 81-101 Mutual Fund Prospectus Disclosure, as well as consequential amendments and amendments to related policies. The amendments have come into force as of May 14, 2013.
The amendments are intended to:
- clarify certain provisions of the prospectus rules;
- address gaps in the prospectus rules;
- modify certain requirements in the prospectus rules to enhance their effectiveness;
- remove or streamline certain requirements in the prospectus rules that are burdensome for issuers and of limited utility for investors; and
- codify prospectus relief that has been granted in the past.
View National Instrument 41-101 and related documents
View National Instrument 44-101 and related documents
View National Instrument 44-102 and related documents
View National Instrument 81-101 and related documents
Canadian Securities Administrators Consultation Paper 91-407 – Derivatives: Registration
18 Apr 2013
The Canadian Securities Administrators (CSA) published for comment Consultation Paper 91-407 – Derivatives: Registration, which sets out the CSA’s recommendations on registration and regulation of market participants trading in derivatives.
This paper details recommendations on issues such as:
- the activities that will trigger derivatives registration;
- the categories of derivatives registrants; and
- the obligations of the derivatives registrants.
This consultation paper is part of a series of eight CSA papers developed to improve regulatory oversight of the OTC derivatives market in Canada. Market participants are invited to provide comments to this consultation paper by June 17, 2013.
Canadian Securities Administrators Consultation Paper 91-407 – Derivatives: Registration
CSA Notice & Request for Comment on Proposed Amendments to NI 81-102 Mutual Funds, Companion Policy 81-102CP and Related Consequential Amendments
27 Mar 2013
The Canadian Securities Administrators (CSA) are publishing proposed amendments to NI 81-102 Mutual Funds and proposed related consequential amendments. In general, the proposed amendments introduce core operational requirements for non-redeemable investment funds, analogous to those applicable to mutual funds in NI 81-102. The CSA also seeks feedback on proposals to create an alternative funds framework by restructuring NI 81-104 Commodity Pools. The comment period will be open until June 25, 2013.
CSA Notice and Request for Comment on Proposed Amendments to NI 81-102 Mutual Funds, 81-102CP and Related Consequential Amendments
View NI 41-101 and related documents
View NI 81-106 and related documents
View NI 81-107 and related documents
View NI 24-101 and related documents
View NI 31-103 and related documents
View NI 33-109 and related documents
View NI 44-102 and related documents
View NI 45-106 and related documents
View NI 62-103 and related documents
View NI 81-101 and related documents
View NI 81-105 and related documents
View NP 11-203 and related documents
New Prospectus Form for Scholarship Plans
10 Jan 2013
The Canadian Securities Administrators (CSA) are making amendments to National Instrument 41-101 General Prospectus Requirements, Form 41-101F2 Information Required in an Investment Fund Prospectus and new Form 41-101F3 Information Required in a Scholarship Plan Prospectus. The amendments will come into force on May 31, 2013.
The amendments aim to improve the prospectus disclosure provided by scholarship plans by introducing a prospectus form tailored to reflect the unique features of scholarship plans. New Form 41-101F3 will require scholarship plans to provide investors with key information in a simple, accessible and comparable format to assist them in making a more informed investment decision.
CSA Notice of Amendments to National Instrument 41-101 General Prospectus Requirements, Form 41-101F2, Form 41-101F3 and Companion Policy 41-101CP Companion Policy to National Instrument 41-101 General Prospectus Requirements