IIAC SUPPORTS CSA PROPOSED CHANGES TO OFFERING MEMORANDUM PROSPECTUS EXEMPTION
The IIAC responded to the CSA consultation on amendments to the Offering Memorandum prospectus exemption. The IIAC supports the purpose of the amendments, which is to create clear and relevant disclosure for issuers engaged in specific activities that were not envisioned to be financed via the Offering Memorandum exemption, but who have become significant users of this means of financing. Given that the existing Offering Memorandum does not contain disclosure germane to issuers using this document to raise significant funds, it is appropriate that the disclosure requirements be amended to ensure investors have the appropriate information upon which to make informed investment decisions.
If you have any questions about this submission, please contact Susan Copland.