Ontario Securities Commission Proposes Rule for Distributions Outside Ontario
|Area||Corporate Finance and Securities|
On June 30, 2016, the Ontario Securities Commission (OSC) published for comment Proposed OSC Rule 72-503 – Distributions Outside of Canada (the “Proposed Rule”), as well as an accompanying form (the “Proposed Form”) and companion policy (the “Proposed Companion Policy”). The Proposed Rule is intended to clarify the scope and application of the prospectus and registration requirements in certain cross-border transactions. The OSC is accepting written comments on the Proposed Rule until September 28, 2016.