BCN 2012/06 Notice of Amended BC Instrument 32-513 Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions and its Companion Policy [BCN]

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2012-06 [BCN]
Published: 2012-03-16
Effective: 2012-04-16

Concurrently Published

Document
32-513 32-513 Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions [BCI - Rescinded]
32-513CP 32-513CP Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions [CP - Rescinded]

Effective April 16, 2012, the Commission is amending:

  • BC Instrument 32-513 Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions
  • BC Companion Policy 32-513CP Registration Exemption for Trades in Connection with Certain Prospectus-Exempt Distributions

BCI 32-513 provides an exemption from the dealer registration requirement for trades in securities in connection with certain prospectus-exempt distributions under National Instrument 45-106 Prospectus and Registration Exemptions.

We are adding two new conditions to BCI 32-513 to further protect investors and improve market integrity. Under the new conditions, the exemption will not be available to a former registrant and to a person who has provided financial services to the purchaser. We have changed Companion Policy 32-513CP to reflect these new conditions.  

The amendments to BCI 32-513 are effective on April 16, 2012. If because of these amendments, you can no longer rely on the exemption and wish to continue to carry on your business, you must register under the Securities Act. Please contact us during the transition period so we can work with you to complete your registration. 

Questions
You may refer questions to Mark Wang, Manager, Legal Services, Capital Markets Regulation, British Columbia Securities Commission, (604) 899-6658


March 16, 2012

 


Brenda M. Leong
Chair