The OSC today issued a practice directive intended to assist issuers making an application for relief in connection with prescribed prospectus requirements where the exemption will be evidenced by the issuance of a receipt for a final prospectus. Specifically, the OSC notes a number of deficiencies that can cause delays when reviewing exemption applications and provides guidance regarding the OSC's expectations concerning such things as the content of the application, its filing on SEDAR and public availability and the related prospectus disclosure. Fore more information, see OSC Staff Notice 41-703.
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