The Canadian Securities Administrators are proposing changes to the regulatory framework for syndicated mortgages.
“The proposed amendments introduce a common regulatory approach for syndicated mortgages across Canada,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “The measures also enhance investors’ ability to make informed decisions when purchasing these investments.”
The proposed changes would mean that current prospectus and registration exemptions in some Canadian jurisdictions would be removed, with investors benefitting from a registrant, the CSA says.
There would also be revisions to the offering memorandum exemption to provide better disclosure for investors.
The proposed amendments and CSA Notice and Request for comment can be found on the websites of CSA members. Comments should be submitted in writing by June 6, 2018.