The Ontario Securities Commission (OSC) recently announced the adoption of amendments to OSC Rule 48-501 to remove existing trading restrictions imposed on dealers, insiders and affiliated entities in connection with certain distributions and transactions.
As we discussed when the amendments were first proposed last year, the OSC considers the current restrictions duplicative of existing Universal Market Integrity Rules and broader than necessary to prevent market manipulation.
Assuming ministerial approval, the amendments will come into force on May 18, 2021.
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