This entry is part 3 of 12 in the series BCSC revises 51-509 Rule for U.S. OTC issuers
BCSC revises 51-509 Rule for U.S. OTC issuers

What changes is the British Columbia Securities Commission (BCSC) making to the proposed 51-509 Rule?

  • the Canadian Trading and Quotation System Inc. (CNQ) was added to the list of exchanges that exclude issuers from the proposed instrument

  • changes were made to the significant connections requirement that will result in an OTC issuer being designated as a reporting issuer

  • an OTC issuer that becomes a reporting issuer must remain a reporting issuer for at least one year after it no longer has a substantial connection to B.C.

  • most foreign issuer and multi-jurisdictional disclosure system (MJDS) exemptions will apply, with the exception of the exemption regarding material change reporting

  • there will be a legend requirement for securities that OTC reporting issuers distribute under exemptions


Series Navigation«BCSC revises 51-509 Rule for U.S. OTC issuers – Part 2BCSC revises 51-509 Rule for U.S. OTC issuers – Part 4»

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