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CSA Staff Notice 11-330 Notice of Local Amendments – Alberta, Manitoba, New Brunswick, Nova Scotia, Québec, Ontario and Saskatchewan |
June 16, 2016
From time to time, a local jurisdiction may amend a national or multilateral instrument that affects activity only in that jurisdiction. The CSA recognize that such a local amendment may nonetheless be of interest or importance beyond the local jurisdiction and CSA staff are issuing this Notice to identify amendments implemented through a number of local amendments made in Alberta, Manitoba, New Brunswick, Nova Scotia, Ontario, Québec and Saskatchewan. For public convenience, CSA members in other jurisdictions will update the text of the applicable material on their websites to reflect these local amendments.
The local amendments referred to in this notice include those to National Instrument 45-102 Resale of Securities (NI 45-102) and National Instrument 45-106 Prospectus Exemptions (NI 45-106) to reflect the availability of new or amended prospectus exemptions in certain jurisdictions.
Annex A to this Notice identifies, and provides further information on, the relevant local amendments (as well as related changes to specified policies). The text of rule and policy consolidations on the websites of CSA members will now be updated, as necessary, to reflect these local amendments and changes.
You may direct questions regarding this Notice to:
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Kari Horn General Counsel Alberta Securities Commission Tel: (403) 297-4698
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Simon Thompson Senior Legal Counsel, General Counsel’s Office Ontario Securities Commission Tel: (416) 593-8261
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Sylvia Pateras Senior Legal Counsel Autorité des marchés financiers Tel: (514) 395-0337, extension 2536 sylvia.pateras@lautorite.qc.ca
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Susan Powell Deputy Director, Securities Financial and Consumer Services Commission (New Brunswick) Tel: (506) 643-7690
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H. Jane Anderson Director, Policy & Market Regulation and Secretary to the Commission Nova Scotia Securities Commission Tel: (902) 424-0179
Sonne Udemgba Deputy Director, Securities Division Financial and Consumer Affairs Authority of Saskatchewan Tel: (306) 787-5879 |
Chris Besko Acting Director and General Counsel The Manitoba Securities Commission Tel: (204) 945-2561 |
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Annex A
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LOCAL AMENDMENTS TO INSTRUMENTS |
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Instrument |
Date effective and hyperlink |
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(a) NI 45-102 – Relating to the existing securityholder exemption |
February 11, 2015 in Ontario only
http://www.osc.gov.on.ca/en/SecuritiesLaw_rule_20150205_45-102_resale-securities.htm |
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(b) NI 45-102 – Relating to the accredited investor exemption in NI 45-106
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May 5, 2015 in Ontario only
http://www.osc.gov.on.ca/en/SecuritiesLaw_rule_20150430_45-102_amd-accredited-investor.htm |
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(c) NI 45-102 – Relating to the family, friends and business associates exemption in NI 45-106
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May 5, 2015 in Ontario only
http://www.osc.gov.on.ca/en/SecuritiesLaw_rule_20150430_45-102_amd-resale-family-friends.htm [Note: It is anticipated that paragraph (a.1) in section 3 of Appendix D in this amending instrument will be renumbered as paragraph (a.2).] |
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(d) NI 45-102 – Relating to the offering memorandum exemption in NI 45-106
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January 13, 2016 in Ontario and April 30, 2016 in Alberta, New Brunswick, Nova Scotia, Québec, and Saskatchewan
http://www.osc.gov.on.ca/en/SecuritiesLaw_rule_20160107_45-102_amd-resale-securities.htm |
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(e) Appendix D of NI 45-102 -- Relating to the crowdfunding exemption |
January 25, 2016 in Manitoba, Ontario, Québec, New Brunswick and Nova Scotia
Annex B of |
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(f) NI 45-106 – Relating to the family, friends and business associates exemption |
May 5, 2015 in Ontario only
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(g) Item 9 of Form 45-106F1 -- Relating to foreign “wrappers”
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September 8, 2015 in Ontario only http://www.osc.gov.on.ca/en/SecuritiesLaw_ni_20150903_45-106_prospectus-exemptions.htm |
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(h) NI 45-106 – Relating to the offering memorandum exemption
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January 13, 2016 in Ontario and April 30, 2016 in Alberta, New Brunswick, Nova Scotia, Québec and Saskatchewan
http://www.osc.gov.on.ca/en/SecuritiesLaw_ni_20160107_45-106_amd_prospectus-exemptions.htm
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(i) National Instrument 52-107 Acceptable Accounting Principles and Auditing Standards
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January 13, 2016 in Ontario and April 30, 2016 in Alberta, New Brunswick, Nova Scotia, Québec and Saskatchewan
http://www.osc.gov.on.ca/en/SecuritiesLaw_ni_20160107_52-107_amendments.htm
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(j) Multilateral Instrument 11-102 Passport System |
April 30, 2016 in Alberta, New Brunswick, Nova Scotia, Québec and Saskatchewan
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LOCAL CHANGES TO POLICIES |
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Policy |
Date Effective and Hyperlink |
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(a) NI 45-106CP -- Changes related to family, friends and business associates exemption in NI 45-106
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May 5, 2015 in Ontario only
http://www.osc.gov.on.ca/en/SecuritiesLaw_ni_20150430_45-106_changes-cp-family-friends.htm |
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(b) NI 45-106CP --Changes related to the offering memorandum exemption in NI 45-106 |
January 13, 2016 in Ontario and April 30, 2016 in Alberta, New Brunswick, Nova Scotia, Québec and Saskatchewan
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(c) NP 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions
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January 13, 2016 in Ontario and April 30, 2016 in Alberta, Saskatchewan, Québec, New Brunswick and Nova Scotia
http://www.osc.gov.on.ca/en/SecuritiesLaw_np_20160107_11-203_change-process-for-exemptive-relief.htm |