The Canadian Securities Administrators will not be moving ahead with a planned multi-jurisdictional rule concerning “distributions outside the local jurisdiction”. The regulators explain that they are not going ahead with the planned rule, expecting that it will be dealt with by its Uniform Securities Legislation project instead.

The rule was published for comment on September 8, 2000. “This initiative is now being considered under the CSA Uniform Securities Legislation Project,” says the CSA. The USL project aims to develop a single securities act for multiple jurisdictions to adopt, improving harmonization between provinces.