The Ontario Securities Commission (OSC) announced on Thursday that beginning this month it will start regular reporting of deals that raise capital in the exempt market.
Deal summaries, which will be based on information contained in exempt distribution reports that are filed with the regulator, will include information on the number of purchasers and the amount of capital raised in Ontario, among other things.
The summaries will be posted as Excel files on the OSC website in order to allow users to more easily search and analyze the data, the OSC says in a staff notice.
Earlier this year, the Canadian Securities Administrators (CSA) proposed a new harmonized reporting regime for exempt securities, which would give issuers a single report to use throughout the country, and would increase the information that regulators collect in these reports. The comment period for that proposal ended in mid October.
The OSC is also expected to unveil a couple of important new exemptions in the near future, including an offering memorandum (OM) exemption, and a new equity crowdfunding exemption, that aim to make it easier for firms to raise capital in the exempt market, and to give a broader range of investors access to these sorts of investment opportunities.