The Canadian Securities Administrators today published proposed amendments to a number of national and multilateral instruments, including NI 41-101, NI 44-101 and MI 61-101, intended to ensure that the rules applicable to issuers listed on senior recognized exchanges in Canada (for example, the TSX) also apply to those listed on Aequitas Neo Exchange.

For example, under the proposed changes, the definition of "venture issuer" in various national instruments would be amended so as to exclude issuers listed on Aequitas, and the definition of "short form eligible exchange" under NI 44-101, the short form prospectus rule, would also include Aequitas.

Until the proposed amendments are effective and Aequitas Neo Exchange can be incorporated into the rules as a senior recognized exchange, certain interim measures will be taken, including the requirement that issuers intending to list on Aequitas provide an undertaking that they will comply with Canadian securities laws applicable to non-venture issuers.

As we recently noted, the OSC recognized Aequitas as an exchange last month pursuant to a recognition order that will take effect as of March 1, 2015.

Comments on the proposed amendments are being accepted until March 11, 2015.