Late last week, the Canadian Securities Administrators published an amended prospectus form for scholarship plans intended to better reflect the unique features of such plans. Scholarship plans are currently afforded the flexibility to modify Form 41-101F2 to reflect plans' specific features, which the CSA state leads to information being disclosed in an inconsistent manner. According to the CSA's notice, the new Form 41-101F3 would provide "more understandable and effective disclosure for investors".
The CSA published an earlier version of the amendments in March 2010 and the latest proposals reflect the CSA's responses to comments received. Comments on these recently released proposals are being accepted until January 24, 2012.
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