CSA amends prospectus rules

The Canadian Securities Administrators (CSA) announced today amendments to National Instrument (NI) 41-101 General Prospectus Requirements, NI 44-101 Short Form Prospectus Distributions, NI 44-102 Shelf Distributions, NI 81-101 Mutual Fund Prospectus Disclosure, and related policies and consequential amendments.

The CSA are amending the prospectus rules and their related companion policies to address user feedback and the CSA’s experience with the prospectus rules since the implementation of the general prospectus rule, NI 41-101, on March 17, 2008.

The amendments are intended to:

• clarify certain provisions of the prospectus rules;
• address gaps in the prospectus rules;
• modify certain requirements in the prospectus rules to enhance their effectiveness;
• remove or streamline certain requirements in the prospectus rules that are burdensome for issuers and of limited utility for investors; and
• codify prospectus relief that has been granted in the past.

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