Notice of Request for Comments: OSC Rule - 48-501 - Trading during Distributions, Formal Bids and Share Exchange Transactions

Notice of Request for Comments: OSC Rule - 48-501 - Trading during Distributions, Formal Bids and Share Exchange Transactions

Request for Comment OSC Rule

NOTICE OF REQUEST FOR COMMENTS
CHANGES TO PROPOSED ONTARIO SECURITIES
COMMISSION RULE 48-501 -- TRADING DURING DISTRIBUTIONS,
FORMAL BIDS AND SHARE EXCHANGE TRANSACTIONS (2ND PUBLICATION)

AND

PROPOSED COMPANION POLICY 48-501CP TO OSC RULE 48-501

AND

CHANGES TO PROPOSED AMENDMENTS TO THE
UNIVERSAL MARKET INTEGRITY RULES RELATING TO
TRADING DURING CERTAIN SECURITIES TRANSACTIONS

On August 29, 2003, the Ontario Securities Commission (Commission) published for comment at (2003) 26 OSCB 6157 proposed OSC Rule 48-501 -- Trading during Distributions, Formal Bids and Share Exchange Transactions (Rule). Also on August 29, 2003 at (2003) 26 OSCB 6231, Market Regulation Services Inc. (RS) requested comment on proposed changes to Rule 7.7 (Restrictions on Trading by a Participant During a Distribution) and Rule 7.8 (Restrictions on Trading During a Securities Exchange Take-over Bid) of the Universal Market Integrity Rules (UMIR Amendments).

The Commission is republishing the Rule for comment in today's Bulletin and is publishing for comment Companion Policy 48-501CP -- to Rule 48-501. A Notice and Request for Comment regarding the Rule, together with the Rule and proposed Companion Policy, are published in Chapter 6 of this Bulletin.

RS is publishing in today's Bulletin a Market Integrity Notice requesting comment on proposed changes to the UMIR Amendments. The Market Integrity Notice, including the text of the UMIR Amendments, is published in Chapter 13 of this Bulletin.

A joint summary of the comments has been prepared, together with the Commission's and RS' responses to the comments received, and is published in Chapter 6 of the Bulletin as Appendix A to the Commission's Notice and Request for Comment.