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Letter Summary:
The Canadian Securities Administrators (CSA) is seeking public comment on a proposed expedited shelf prospectus regime for well-known seasoned issuers (WKSIs) in Canada. The proposed amendments are intended to foster capital-raising by WKSIs in the Canadian public markets.
Overview of the Council’s Comments:
The Canadian Securities Administrators (CSA) is seeking public comment on a proposed expedited shelf prospectus regime for well-known seasoned issuers (WKSIs) in Canada. The proposed amendments are intended to foster capital-raising by WKSIs in the Canadian public markets.
We are in broad agreement with the proposed WKSI regime and believe the availability of this option will likely result in more cost-efficient capital raises for eligible large issuers, without introducing material new risks to investors or capital markets integrity.
We believe that the adoption of a WKSI regime in Canada as set out in the Proposal is a positive step for Canada’s capital markets which will reduce regulatory burden for well-established, mature, and closely-followed reporting issuers, and will
contribute to more efficient capital formation in the Canadian marketplace.