The Ontario Securities Commission (OSC) has approved amendments to Investment Industry Regulatory Organization of Canada (IIROC) rules that reduce equity research quiet periods from 40 days to 10 days after an initial public offering, and from 10 days to three days following a secondary offering.

While the amendments were published for comment in Sept. 24 of last year, they were implemented immediately (effective Sept. 25, 2015) in order to align with changes in equivalent rules in the United States

“The primary objective of the amendments is to create a regulatory framework that ensures a level playing field for research report dissemination in the context of cross-border transactions between Canada and the U.S.,” IIROC said in the proposals.

Along with the OSC approval, other Canadian regulators have either approved, or not objected to, the amendments.