Securities Law & Instruments
EXEMPT MARKET REVIEW
Consultation Sessions on OSC Staff Consultation Paper 45-710
|OBJECTIVE OF CONSULTATION SESSIONS|
On December 14, 2012, we published OSC Staff Consultation Paper 45-710 Considerations for New Capital Raising Prospectus Exemptions. The Consultation Paper sets out four concept ideas for new prospectus exemptions in Ontario, together with a number of specific consultation questions. The concept ideas are:
- a concept for an exemption to allow crowdfunding subject to limits for issuers and retail investors,
- a concept for an offering memorandum exemption,
- a concept for an exemption based on an investor’s investment knowledge, and
- a concept for an exemption based on an investor receiving advice from a registrant.
The purpose of the Consultation Paper and related consultation sessions is to obtain input from interested stakeholders onthese concept ideas. The consultation sessions will have a particular focus on crowdfunding.
For further information, please refer to the Consultation Paper which is available on the OSC website at http://www.osc.gov.on.ca/documents/en/Securities-Category4/sn_20121214_45-710_exempt-market-review.pdf.
Written comments may also be provided until February 12, 2013.
|WHO SHOULD ATTEND|
- Retail and institutional investors
- Management of issuers, particularly smaller issuers at an early stage of development
- Investment dealers, advisors to investors and other registrants
- Internal and external legal counsel, auditors and other professional advisors to issuers