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]

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2012-18 [BCN]
Published: 2012-07-31

Concurrently Published

Document
51-511 51-511 Exemptions from Multilateral Instrument 51-105 Issuers Quoted in the U.S. Over-the-Counter Markets [BCI - Rescinded]

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