CSA's Proposed Short-Form Prospectus Rules:Integrated Disclosure Revisited
Back in 2000, the Canadian Securities Administrators (CSA) published a concept proposal for an integrated disclosure system (IDS) to streamline the prospectus offering system. The proposal was premised in part on enhanced continuous disclosure requirements, which are now in force via NI 51-102 (and, soon, NI 81-106 for investment funds). Accordingly, the CSA are now proposing amendments to the short-form, shelf, and post-receipt pricing rules, among others, to simplify and broaden the short-form prospectus system. Comments are due by April 8, 2005, and implementation is being targeted for July 2005.
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