The provincial securities regulators of Ontario, Quebec, Alberta and British Columbia have entered into an exchange of letters with the Chilean securities regulator, the Superintendencia de Valores y Seguros of Chile (the "SVS"). The purpose of the exchange of letters is to facilitate the public offering of securities of Canadian issuers in Chile on an exempt basis under Chilean law. The exchange of letters also provides for certain electronic document access standards and information sharing by the SVS in the event a participating Canadian regulator has concerns about market manipulation, abuse or fraud relating to a Canadian issuer offering or listing its securities in Chile. The terms of the agreement also allow for other Canadian securities regulatory authorities to become participants in the exchange of letters should they desire to do so.
The exchange of letters is still subject to approval by the Minister of Finance, and will become effective upon its execution by the SVS and the participating Canadian regulators.
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