BC Joins Other Jurisdictions in Proposing Changes to the Report of Exempt Distribution

October 16, 2017

The British Columbia Securities Commission (the BCSC) has published proposed amendments to Form 45-106F1 Report of Exempt Distribution (the Report). Announced on October 4, 2017, the B.C. amendments are identical to those proposed by the Canadian Securities Administrators on June 8 on behalf of all regulators except the BCSC.

As we reported in our post on the original CSA announcement, the proposed changes focus on the Report’s certification and information requirements. For example, the changes envisage the adoption of a corporate-style signature block and a new knowledge qualifier, as well as a reduction in the amount of detail required in several parts of the Report (our previous post has more information).

Comment Period

While the comment period on the original CSA proposal has expired, the BCSC proposal provides for a 60-day comment period that began on October 4.

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