“The changes to 41-101 are the last piece of the puzzle that the Canadian Securities Administrators (CSA) Prospectus Systems Committee has been working on for many years,” says Jennifer, who represents ASC on the national committee. “This new rule will outline the disclosure rules to access the market for new issuers and provides general prospectus rules all in one place”.
The rule falls within a long-term objective of the Canadian Securities Administrators (CSA) to harmonize securities law while at the same time facilitating market access. “I think those already familiar with current legislation will find that the rules are more consistent, disclosure standards are harmonized with more explanation and the requirements should be easier to understand, ” adds Jennifer.
Proposed Rule 41-101 went through an extensive comment and review process and is expected to come into effect in early 2008. Familiarize yourself with the proposed changes so that you are up to date when the rule becomes final. You can read the most recent published version as well as the comments.
Keep checking back for future updates on 41-101 and if you have remaining questions on specific issues relating to the rule that need clarification, you can contact our Public Information Office by email or phone 403-355-0585 (toll free 1-877-355-4488).