BCN 2001/51 - BC Instrument 33-505 Underwriting Conflicts [BCN - Rescinded]
The Commission has made BC Instrument 33-505 entitled “Underwriting Conflicts” effective June 29, 2001, which replaces BOR 92/2. This Instrument permits a registrant to underwrite distributions of a related or connected issuer if:
- in most cases, an independent underwriter underwrites not less than 20% of the distribution
- prospective purchasers receive required disclosure about the nature of the relationship between the underwriter and the related or connected issuer.
The Commission recently published for further comment revised Multilateral Instrument 33-105 “Underwriting Conflicts” (see BCN 2001/47). However, as we have not yet received comments on revised MI 33-105, this Instrument parallels the initial draft of MI 33-105, which was published for comment on February 6, 1998. BCI 33-505 also uses defined terms from the initial draft of MI 33-105.
Questions relating to BCI 33-505 may be referred to:
Susan C. Toews
Senior Legal Counsel, Exemptions and Orders
British Columbia Securities Commission
(604) 899-6764 or
(800) 373-6393 (in B.C.)
June 27, 2001
Ref: MI 33-105
This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the Commission Documents database or the Historical Documents database.