The Canadian Securities Administrators (CSA) today published for comment proposals to establish a new framework for regulating securitized products. The proposals consist of a new instrument governing supplementary disclosure requirements for prospectus distributions of securitized products, as well as new disclosure and certification rules. According to the CSA, the proposals are intended to facilitate transparency in the securitization market, ensure that investors have access to adequate information, and be proportionate to the risks associated with the types of securitized products available in Canada. Comments are being accepted by the CSA until July 1, 2011.
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