New prospectus form adopted for scholarship plans

The Canadian Securities Administrators yesterday announced its final amendments to NI 41-101 General Prospectus Requirements, the companion policy and related forms to enhance the prospectus disclosure provided by scholarship plans. Specifically, the amendments introduce a new prospectus form that is tailored to the unique features and complexities of such plans and that will require that key information be provided to investors in a simple and accessible format.

The CSA first published its proposals in March 2010 and released a revised set of amendments in November 2011. Subject to Ministerial approval, the final amendments will come into force on May 31, 2013.

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