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Generative AI
Artificial intelligence (AI) raises many intellectual property (IP) issues.
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Canada | Publication | April 8, 2021
The Alberta and Saskatchewan securities regulators adopted a new prospectus exemption intended to increase capital access and investment opportunities for businesses and investors in these provinces.
The exemption is based upon an investor self-certifying its financial and investment education and acknowledging the risk involved in making the investment. The conditions of the new exemption are:
The exemption sets out the designations and education that qualify a purchaser as a self-certified investor. These include criteria such as being a certified financial analyst, a certified investment manager, a certified public accountant, a certified business analyst or a certified international wealth manager from the relevant authority. In addition, lawyers, business degree holders and persons who have passed the Canadian Securities Course will be qualified provided certain additional requirements are met.
Any securities purchased under the new exemption are subject to resale restrictions and are freely tradeable if the issuer has been a reporting issuer for four months preceding the resale and it has been four months since the original distribution.
The new exemption is enacted by order in each of Alberta and Saskatchewan and is being tested for a three-year period that commenced March 31, 2021, and will expire April 1, 2024.
A copy of the CSA Multilateral Notice regarding the new exemption is available here.
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Artificial intelligence (AI) raises many intellectual property (IP) issues.
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