The EMDA has voiced concerns regarding the CSA's proposed restrictions on EMDs participating in the securitization markets across Canada. The EMDA's comments and analysis was delivered in a formal submission to the CSA on August 31, 2011.
The proposed rules establish a new regulatory framework for securitized products which the EMDA believes are not warranted. The proposals include significant changes to existing exempt market practices including: offering documents, continuous disclosure obligations and restrictions on EMDs participating on behalf of their exempt market clients.
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