Ontario Securities Commission update on Prospectus-Exempt Market Initiatives

Delivered by e-mail

July 18, 2016

We have a few updates relating to the new report of exempt distribution and OSC exempt market webpage that may be of interest to you. 

New report of exempt distribution

The new harmonized report of exempt distribution, Form 45-106F1, came into force on June 30, 2016. OSC staff will be conducting a training session on completing and filing the new report on August 5, 2016 from 10 am to 12 pm.

You can register for this session at: https://eforms.osc.gov.on.ca/e-filings/sme-institute/form.do?token=450c74a6-e784-4931-bbc7-79187726dbd1

Exemption for certain foreign issuers in new report

We have posted an update on our website indicating that on July 5, 2016, the OSC delivered to the Minister of Finance for approval an Amendment Instrument that would, in Ontario only, amend National Instrument 45-106 Prospectus Exemptions. The Amendment Instrument amends Form 45-106F1 to exempt certain foreign issuers from the requirement to identify whether a purchaser is a registrant or an insider of the issuer. The Amendment Instrument and accompanying notice of publication was published in the OSC Bulletin and on the OSC website on July 7, 2016. The other CSA jurisdictions have issued blanket orders to provide the same relief as the Amendment Instrument. A CSA Staff Notice referring to the blanket orders and Amendment Instrument was also published on July 7, 2016.

The update is at: http://www.osc.gov.on.ca/en/form45106f1.htm

OSC exempt market webpage

A new exempt market webpage was recently launched on the OSC website at: http://www.osc.gov.on.ca/en/exempt-market.htm

The page provides a one-stop shop for investors and market participants seeking information about the exempt market including who needs to register, how issuers sell securities in the exempt market and what investors need to know. Users will also be able to directly report exempt distributions and access exempt market data on the page.

We welcome your feedback on the new page which will assist us in providing useful content for stakeholders. Please send any comments to: [email protected]

If you have any questions, please contact us by calling 1-877-785-1555 or 416-593-8314 or e-mailing [email protected].