The Ontario Securities Commission has issued notices reminding market players that new rules governing exempt distributions and the resale of securities take effect next week.

On November 7, the Minister of Finance approved multilateral instruments governing both the resale of securities and exempt distributions. These new instruments come into effect on November 30.

The exempt distributions rule is designed to create an approach to private market regulation that is consistent with the needs of that market and its investors. It hopes that the new exempt market regime will be viewed as an improvement over the existing exempt market regulations. The resale rule represents the CSA’s initiative to harmonize and clarify the resale rules.