Jul 28, 2016
Due to exemptions from a number of Canadian requirements that came into effect on September 8, 2015 (collectively, the Wrapper Exemption), foreign issuers and dealers, in most cases, no longer need a Canadian private placement supplement (or Wrapper) attached to the front of a non-Canadian prospectus or offering memorandum in order to make private placement sales in Canada. There are some situations, however, in which a Wrapper is required.
Use our online Guide to Canadian Private Placements to determine whether you will need a Canadian Wrapper for a particular offering document and should contact Canadian counsel for assistance before making offers or sales in Canada.
By answering simple yes-or-no questions, the guide will help you navigate the Canadian Wrapper requirements as they apply to your particular sale. The practical resource also provides helpful details on the following:
- the statutory liability regimes across Canada’s provinces and territories
- issues that may be of concern (e.g., other regulatory requirements applicable to a distribution of securities into Canada in addition to Canadian securities law requirements)
- steps that may need to be taken to comply with Canadian securities law requirements
- notification requirements that may need to be satisfied when relying on the Wrapper Exemption
TRY THE GUIDE NOW
How the online guide can help you
Smart self-serve guidance at your convenience
The guide’s interactive Q-and-A format makes it easy to determine Canadian compliance requirements for your particular offering. The guide walks you through a series of steps, which will enable you to confirm whether you can sell securities into Canada on a private placement basis without engaging Canadian counsel for assistance. It is important to note, however, that in most cases you will need assistance from Canadian counsel to file post-closing private placement trade reports with the Canadian securities regulators, even if a Canadian Wrapper is not required.
For more information on our online guide or Canadian private placements, contact Rob Lando or another member of our Canadian private placements team.