Securities Law & Instruments

 



Notice of Minister of Finance Approval of
National Instrument 33-105
Underwriting Conflicts


On December 4, 2001, the Minister of Finance approved National Instrument 33-105 Underwriting Conflicts (the "National Instrument") as a rule under the Act. The purpose of the National Instrument is to impose appropriate regulatory requirements on distributions of securities in which the relationship between the issuer or selling securityholder of the securities and the registrant acting as underwriter raises the possibility that the registrant will be in an actual or perceived position of conflict between its own interests or those of the issuer or selling securityholder, and those of investors.

Previously, materials related to the National Instrument and Companion Policy 33-105 CP (the "Companion Policy") were published in the Bulletin on February 6, 1998 at (1998), 21 OSCB 781, June 22, 2001 at (2001), 24 OSCB 3805, and October 26, 2001 at (2001), 24 OSCB 6443.

The National Instrument and the Companion Policy will come into effect in Ontario on January 3, 2002.

In connection with the implementation of the National Instrument, the Commission has made, and the Minister of Finance has approved, a Regulation (filed as Regulation 504/01) amending Regulation 1015 of the Revised Regulations of Ontario, 1990 (General). A description of the amendments contained in Regulation 504/01 was previously published in the Bulletin on October 26, 2001 at (2001), 24 OSCB 6444.

The National Instrument and Companion Policy are being published in Chapter 5 of this issue of the Bulletin. The National Instrument together with Regulation 504/01 will also be published in the Ontario Gazette on January 5, 2002.