Publication
International Restructuring Newswire
Welcome to the Q2 2024 edition of the Norton Rose Fulbright International Restructuring Newswire.
Author:
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.
Publication
Welcome to the Q2 2024 edition of the Norton Rose Fulbright International Restructuring Newswire.
Publication
The Canadian Federal Budget 2024 proposes to broaden the scope of certain powers allowing CRA to request information from taxpayers, and sets out new consequences for non-compliant taxpayers.
Publication
The alternative minimum tax is an additional income tax imposed under the Income Tax Act on individuals and certain trusts who would otherwise be able to reduce their ordinary Canadian federal income tax through the use of certain deductions, exemptions or credits.
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2023