BCN 2012/18 - Adoption of BC Instrument 51-511 Exemptions from Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the-Counter Markets [BCN]
| Published Date: | 2012-07-31 |
|---|---|
| Document(s): |
|
Concurrently Published:
Effective July 31, 2012, the Commission and the other Canadian Securities Administrators, except the Ontario Securities Commission, adopted Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the-Counter Markets. Please see our advance notice published on May 10, 2012 (BCN 2012/10).
Since our advance notice, the commissions received comments from foreign issuers about the scope of MI 51-105. In response, the Commission is adopting BC Instrument 51-511 Exemptions from Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the-Counter Markets. The instrument provides exemptions from MI 51-105 for issuers listed on one of the exchanges listed in the instrument, and for issuers distributing non-convertible debt.
The other Canadian Securities Administrators who adopted MI 51-105 are also adopting these exemptions.
July 31, 2012
Brenda M. Leong
Chair