THE IIAC COMMENTS ON CSA PROPOSAL TO INTRODUCE A LISTED ISSUER FINANCING EXEMPTION
Summary: The IIAC supports CSA efforts to improve the efficiencies of Canadian capital markets. We are concerned, however, that by removing registrant due diligence, while permitting unsophisticated investors to purchase such securities without a registered dealer, the Proposal lacks the sufficient safeguards to ensure adequate investor protection.
Recommendations: The CSA should not proceed with the Proposal. However, it should continue to develop initiatives that will improve the efficiency of the regulatory system for all stakeholders, such as the current amendments to the Continuous Disclosure Obligations, Access Equals Delivery proposals as well as amendments to the Accredited Investor exemption as adopted in Alberta and Saskatchewan.
Click here to read our submission.
For more information, please contact Susan Copland.