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Sep 14, 2005
The Canadian Securities Administrators (CSA) implemented a new rule today that will harmonize and consolidate prospectus and registration exemptions across Canada.
National Instrument 45-106 Prospectus and Registration Exemptions (NI 45-106) takes effect today and sets out most significant existing exemptions found in securities legislation across Canada. In addition to consolidating the various exemption regimes across Canada, NI 45-106 is more straight-forward and user-friendly.
A list of any remaining local exemptions to prospectus and registration requirements of securities laws can be found in CSA Staff Notice 45-304 Notice of Local Exemptions Related to National Instrument 45-106 Prospectus and Registration Exemptions which is available on the CSA website at www.csa-acvm.ca.
Canadian companies wanting to access the exempt market are encouraged to familiarize themselves with the new rule. NI 45-106 and all related materials can be found on websites of Canadian securities regulators.
The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.