On November 5, 2015, the Ontario Securities Commission (OSC) published its Exempt Market Review to provide background on the status of various new prospectus exemptions that it has proposed. The table below provides an overview of the status of these prospectus exemptions in Ontario as set out in the Exempt Market Review.
The Exempt Market Review provides notice of some other interesting developments:
- The OSC noted that they have received a number of applications from intermediaries that plan to register as dealers in order to operate online platforms. The OSC reminds these intermediaries that the availability of a prospectus exemption to distribute securities is separate and apart from registration requirements and a prospectus exemption does not mean that there is a corresponding registration exemption.
- The OSC is developing a compliance and oversight program to monitor distributions under the OM and crowdfunding exemptions. The program will assess compliance, enhance awareness and gather data to support these activities.
STIKEMAN ELLIOT – Canadian Securities Law –Â NOVEMBER 17, 2015.
Want More Investigative Content?
