The Canadian Securities Administrators has published a proposed new national rule that would harmonize prospectus and registration exemption requirements throughout the country.

The proposed national instrument will replace most existing local exemptions and consolidate many exemptions to make them more straightforward and user friendly, the CSA says. The new rule is expected to come into force on Sept. 14.

Each jurisdiction will publish a local notice proposing certain local repeals and amendments. The local notices will also cite local exemptions that are being repealed and not carried forward in the new rule.

The CSA says that during the comment period on the draft version of the rule it received 30. After considering the comments, it made some amendments, but says that these changes are not material, so the rule is not being published for a further comment period.