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45-106 - Prospectus Exemptions

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Category: 4 - Distribution Requirements
Status:

Current Instruments:

No Document Type Publication Date
45-106 CSA Notice and Request for Comment – Proposed Amendments to National Instrument 45-106 Prospectus Exemptions relating to the Listed Issuer Financing Exemption CSA Notice
45-106 National Instrument (Consolidated up to September 19, 2025) National Instrument
45-106 Companion Policy (Consolidated up to 9 June 2023) Companion Policy
45-106 Form 45-106F1-Schedule 1 Guides & Forms

Proposed Rules and Changes:

CSA Notice and Request for Comment – Proposed Amendments to National Instrument 45-106 Prospectus Exemptions relating to the Listed Issuer Financing Exemption

Comment Period Opened 23 Jul 2026 TO 21 Oct 2026
Proposed Amendments to National Instrument 45-106 Prospectus Exemptions

Please address your comments to the Financial and Consumer Services Commission of New Brunswick and submit it in writing on or before October 21, 2026. 

How to Contact

Submit your comments here. Your comments will be distributed to the participating CSA members.

  Submit a Comment Online

Related Documents:

No Document Type Publication Date
11-349 CSA Staff Notice 11-349 - Notice of Local Amendments in Certain Jurisdictions Amendments to Instrument
43-101 CSA Notice and Request for Comment – Proposed Repeal and Replacement of National Instrument 43-101 Standards of Disclosure for Mineral Projects CSA Notice
14-101 CSA Notice of Amendments to National Instrument 14-101 Definitions and Consequential Amendments CSA Notice
13-103 CSA Notice of National Instrument 13-103 System for Electronic Data Analysis and Retrieval + (SEDAR+) and Consequential Amendments CSA Notice
51-102 CSA Notice and Request for Comment – Proposed Amendments to National Instrument 51-102 Continuous Disclosure Obligations and Other Amendments and Changes CSA Notice
14-101 CSA Notice and Request for Comment – Proposed Amendments to NI 14-101 Definitions and Consequential Amendments CSA Notice
45-328 CSA Staff Notice 45-328 - Update on Amendments relating to Syndicated Mortgages CSA Notice
51-509 Blanket Order 51-509 - Temporary Exemption from Certain Corporate Finance Requirements with Deadlines During the Period from 2 June to 31 August 2020 Blanket Order
51-507 Blanket Order 51-507 Temporary Exemption from Certain Corporate Finance Requirements Blanket Order
45-326 CSA Staff Notice 45-326 relating to Syndicated Mortgages CSA Notice
45-323 CSA Staff Notice 45-323 Update on Use of the Rights Offering Exemption in NI 45-106 CSA Notice
11-335 CSA Staff Notice 11-335 Notice of Local Amendments and Changes in Certain Jurisdictions CSA Notice
11-334 CSA Staff Notice 11-334 Notice of Local Amendments and Changes in Certain Jurisdictions CSA Notice
45-507 Blanket Order 45-507 - Exemptions from Certain Financial Statement Requirements of Form 45-106F2 Offering Memorandum for Non-Qualifying Issuers Blanket Order
45-308 CSA Staff Notice 45-308 (Revised) Guidance for Preparing and Filing Reports of Exempt Distribution under NI 45-106 Prospectus Exemptions - With highlighted changes CSA Notice
45-308 CSA Staff Notice 45-308 (Revised) Guidance for Preparing and Filing Reports of Exempt Distribution under NI 45-106 Prospectus Exemptions CSA Notice
45-320 CSA Staff Notice 45-320 Exemptions for Certain Foreign Issuers from the Requirement to Identify Purchasers as Registrants or Insiders in Reports of Exempt Distribution CSA Notice
45-510 Blanket Order 45-510 Exemptions from certain requirements in form 45-106f1 report of exempt distribution Blanket Order
11-330 CSA Staff Notice 11-330 Notice of Local Amendments CSA Notice
21-505 Blanket Order 21-505 - Exemptions from Certain Requirements of Securities Legislation For Issuers Whose Securities Are Listed On The Aequitas Neo Exchange Inc. Blanket Order
45-507 Blanket Order 45-507 Exemptions from Certain Financial Statement Requirements of Form 45-106F2 Offering Memorandum for Non-Qualifying Issuers Blanket Order
31-336 CSA Staff Notice 31-336 Guidance for Portfolio Managers, Exempt Market Dealers and Other Registrants on the Know-Your-Client, Know-Your-Product and Suitability Obligations CSA Notice
45-701 NBSC Staff Notice 45-701 - Voluntary Pre-filing of Draft Offering Memoranda Under NI 45-106 Prospectus and Registration Exemptions Local Notice
45-310 CSA Staff Notice 45-310 - Update on CSA Staff Consultation Note 45-401 Review of Minimum Amount and Accredited Investor Exemptions CSA Notice
45-309 Multilateral CSA Staff Notice 45-309 - Guidance for Preparing and Filing an Offering Memorandum under NI 45-106 Prospectus and Registration Exemptions CSA Notice
45-308 CSA Staff Notice 45-308 - Guidance for Preparing and Filing Reports of Exempt Distribution under NI 45-106 Prospectus and Registration Exemptions CSA Notice
11-316 CSA Staff Notice 11-316 - Notice of Local Amendments – British Columbia CSA Notice
45-401 CSA Staff Consultation Note 45-401 - Review of Minimum Amount and Accredited Investor Exemptions CSA Consultation Paper
31-327 CSA Staff Notice 31-327 - Broker-Dealer Registration in the Exempt Market Dealer Category CSA Notice
11-314 CSA Staff Notice 11-314 - Update of CSA Instruments CSA Notice
45-503 Blanket Order 45-503 - Exemptions for Certain Supranational Agencies Blanket Order
45-305 CSA Staff Notice 45-305 FAQS Regarding NI 45-106 Prospectus and Registration Exemptions CSA Notice
45-502 Blanket Order 45-502 - NI 45-106 Blanket Order
45-304 CSA Staff Notice 45-304 - Notice of Local Exemptions Related to NI 45-106 Prospectus and Registration Exemptions CSA Notice
41-503 Blanket Order 41-503 - Transitional Relief Upon the Adoption of NI 45-106 Blanket Order

History:

No Document Type Publication Date
45-106 Amendments to NI 45-106 Amendments to Instrument
45-106 Ministerial Consent Ministerial Consent
45-106 CSA Notice of Publication – Amendments and Changes to Certain National Instruments and Policies related to Venture Issuer Definition and Majority Voting CSA Notice
45-106 CSA Notice and Request for Comment - Proposed Amendments to Relevant National Instruments for Venture Issuer Definition and Majority Voting CSA Notice
45-106 National Instrument (Consolidated up to 13 September 2023) National Instrument
45-106 Amendments to NI 45-106 Amendments to Instrument
45-106 Ministerial Consent Ministerial Consent
45-106 National Instrument (Consolidated up to 9 June 2023) National Instrument
45-106 Amendments to NI 45-106 (effective 9 June 2023, arising from NI 13-103) Amendments to Instrument
45-106 Changes to 45-106CP (effective 9 June 2023, arising from NI 13-103) Changes to Companion Policy
45-106 Ministerial Consent Ministerial Consent
45-106CP Companion Policy (Consolidated up to 8 March 2023) Companion Policy
NI 45-106 National Instrument (Consolidated up to 8 March 2023) National Instrument
45-106CP Changes to 45-106CP Changes to Companion Policy
NI 45-106 Amendments to NI 45-106 Amendments to Instrument
NI 45-106 Ministerial Consent Ministerial Consent
45-106 CSA Notice of Amendments to National Instrument 45-106 Prospectus Exemptions and Changes to Companion Policy 45-106CP Prospectus Exemptions Relating to the Offering Memorandum Prospectus Exemption CSA Notice
45-106 Companion Policy (Consolidated up to 21 November 2022) Companion Policy
45-106 National Instrument (Consolidated up to 21 November 2022) National Instrument
45-106 Amendments to NI 45-106 Amendments to Instrument
45-106 Ministerial Consent Ministerial Consent
45-106 CSA Notice of Amendments to National Instrument 45-106 Prospectus Exemptions to introduce the Listed Issuer Financing Exemption CSA Notice
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 National Instrument (Consolidated up to 5 January 2022) National Instrument
45-106 Ministerial Consent Ministerial Consent
45-106 CSA Notice of Amendments – Reducing Regulatory Burden for Investment Fund Issuers – Phase 2, Stage 1 CSA Notice
45-106 CSA Notice and Request for Comment – Proposed Amendments to NI 45-106 Prospectus Exemptions to introduce the Listed Issuer Financing Exemption CSA Notice
45-106 Companion Policy (Consolidated up to 1 March 2021) Companion Policy
45-106 National Instrument (Consolidated up to 1 March 2021) National Instrument
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 Changes to 45-106CP Changes to Companion Policy
45-106 Ministerial Consent Ministerial Consent
45-106 CSA Notice and Request for Comment Proposed Amendments to NI 45-106 and Companion Policy Relating to the Offering Memorandum Prospectus Exemption CSA Notice
45-106 CSA Notice of Amendments to NI 45-106 and NI 31-103 relating to Syndicated Mortgages CSA Notice
45-106 CSA Notice and Request for Comment Proposed National Systems Renewal Program Rule and Related Amendments CSA Notice
45-106 CSA Second Notice and Request for Comment - Proposed Amendments to NI 45-106, NI 31-103 as well as changes to their related Companion Policies relating to Syndicated Mortgages CSA Notice
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 Changes to 45-106CP Changes to Companion Policy
45-106 National Instrument (Consolidated up to 5 October 2018) National Instrument
45-106 Companion Policy (Consolidated up to 5 October 2018) Companion Policy
45-106 Ministerial Consent Ministerial Consent
45-106 CSA Notice of Amendments to NI 45-106 and Changes to 45-106 CP Relating to Reports of Exempt Distribution CSA Notice
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 National Instrument (Consolidated up to 12 June 2018) National Instrument
45-106 Ministerial Consent Ministerial Consent
45-106 CSA Notice of Amendments Relating to Designated Rating Organizations CSA Notice
45-106 CSA Notice and Request for Comment Proposed Amendments to NI 45-106 and NI 31-103 relating to Syndicated Mortgages CSA Notice
45-106 Various Proposed Amendments to: NI 25-101, NI 31-103, NI 33-109, NI 41-101, NI 44-101, NI 44-102, NI 45-106, NI 51-102, NI 81-102, NI 81-106, 21-101CP, 81-102CP CSA Notice
45-106 CSA Multilateral Notice and Request for Comment Proposed Amendments to NI 45-106 CSA Notice
45-106 National Instrument (Consolidated up to 1 April 2017) National Instrument
45-106 Amendment Instrument to NI 45-106 and 45-106CP Amendments to Instrument
45-106 National Instrument (Consolidated up to 5 October 2016) National Instrument
45-106 Companion Policy (Consolidated to 5 October 2016) Companion Policy
45-106 Ministerial Consent Ministerial Consent
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 Changes to Companion Policy 45-106CP Changes to Companion Policy
45-106 National Instrument (Consolidated up to 30 June 2016) National Instrument
45-106 Companion Policy (Consolidated up to 30 June 2016) Companion Policy
45-106 Ministerial Consent Ministerial Consent
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 Changes to 45-106CP Changes to Companion Policy
45-106 National Instrument (Consolidated up 30 April 2016) National Instrument
45-106 Companion Policy (Consolidated up to 30 April 2016) Companion Policy
45-106 CSA Notice of Amendments to NI 45-106 relating to Reports of Exempt Distribution CSA Notice
45-106 Ministerial Consent Ministerial Consent
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 Changes to CP 45-106 Changes to Companion Policy
45-106 National Instrument (Consolidated up to 8 December 2015) National Instrument
45-106 Companion Policy (Consolidated up to 8 December 2015) Companion Policy
45-106 Ministerial Consent Ministerial Consent
45-106 Amendments to NI 45-106 Amendments to Instrument
45-106 Ministerial Consent Ministerial Consent
45-106 Multilateral CSA Notice of Amendments to NI 45-106 Prospectus Exemptions Relating to the Offering Memorandum Exemption CSA Notice
45-106 CSA Notice of Amendments Relating to Rights Offerings to NI45-106, NI41-101, NI44-101, NI45-102 and Repeal of NI45-101 CSA Notice
45-106 CSA Notice of Amendments Related to the Recognition of Aequitas NEO Exchange Inc. CSA Notice
45-106 CSA Notice and Request for Comment Proposed Amendments to NI 45-106 Prospectus Exemptions relating to Reports of Exempt Distribution CSA Notice
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 Changes to 45-106CP Changes to Companion Policy
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 National Instrument (Consolidated up to 5 May 2015) National Instrument
45-106 Companion Policy (Consolidated up to 5 May 2015) Companion Policy
45-106 Ministerial Consent Ministerial Consent
45-106 Ministerial Consent Ministerial Consent
45-106 CSA Notice of Amendments to NI 45-106 Relating to the Short-term Debt Prospectus Exemption and Short-term Securitized Products CSA Notice
45-106 CSA Notice of Amendments to NI 45-106 Relating to the Accredited Investor and Minimum Amount Investment Prospectus Exemptions CSA Notice
45-106 Multilateral CSA Notice Exemptions from Certain Financial-Statement Requirements of the Offering Memorandum Exemption CSA Notice
45-106 CSA Notice and Request for Comment - Proposed Amendments to Certain National and Multilateral Instruments and Policies Related to the Recognition of Aequitas Neo Exchange Inc. CSA Notice
45-106 CSA Notice and Request for Comment - Proposed Amendments to NI 45-106, NI 41-101, NI 44-101, NI 45-102 and Proposed Repeal of NI 45-101 CSA Notice
45-106 Amendments to NI 45-106 Amendments to Instrument
45-106 National Instrument (Consolidated up to 22 September 2014) National Instrument
45-106 Ministerial Consent Ministerial Consent
45-106 CSA Notice of Amendments to NI 81-102, NI 81-106, NI 81-101, NI 41-101 and Related Consequential Amendments CSA Notice
45-106 Ministerial Consent Ministerial Consent
45-106 Amendment Instrument to NI 45-106 (Amendments required to the French version only) Amendments to Instrument
45-106 National Instrument (Consolidated up to 31 May 2013 - Amendments required to the French version only) National Instrument
45-106 Multilateral CSA Notice of Publication and Request for Comment - Proposed Amendments to NI 45-106 Relating to the Offering Memorandum Exemption and Reports of Exempt Distribution CSA Notice
45-106 CSA Notice and Request for Comment - Proposed Amendments to NI 45-106 Relating to the Accredited Investor and Minimum Amount Investment Prospectus Exemptions CSA Notice
45-106 CSA Notice and Request for Comment - Proposed Amendments to NI 45-106 Prospectus and Registration Exemptions Relating to the Short-term Debt Prospectus Exemption and Proposed Securitized Products Amendments CSA Notice
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 National Instrument (Consolidated up to 31 May 2013) National Instrument
45-106 Ministerial Consent Ministerial Consent
45-106 CSA Notice - Consequential Amendments to Registration, Prospectus and Continuous Disclosure Rules Related to NI 25-101 Designated Rating Organizations CSA Notice
45-106 CSA Staff Notice 11-320 - Notice of Local Amendments - Nova Scotia and Yukon CSA Notice
45-106 CSA Notice and Request for Comment - Proposed NI 51-103 Ongoing Governance and Disclosure Requirements for Venture Issuers – List of Commenters CSA Notice
45-106 CSA Notice and Request for Comment - Proposed NI 51-103 Ongoing Governance and Disclosure Requirements for Venture Issuers CSA Notice
45-106 CSA Notice and Request for Comment to Registration, Prospectus and Continuous Disclosure Rules - re: NI 25-101 CSA Notice
45-106 CSA Notice and Request for Comment - Proposed NI 51-103 - Ongoing Governance and Disclosure Requirements for Venture Issuers, Proposed Amendments to NI 41-101, NI 44-101 and NI 45-106 and Proposed Related Consequential Amendments CSA Notice
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 CSA Staff Notice 11-315 - Extension of Consultation Period CSA Notice
45-106 CSA Notice - Repeal and Replacement of NI 43-101 Standards of Disclosure for Mineral Projects, Form 43-101F1 Technical Report, and 43-101CP CSA Notice
45-106 Notice and Request for Comments for Proposed NI 41-103, Proposed NI 51-106, Proposed Amendments to NI 52-109, Proposed Amendments to NI 45-106, NI 45-102 and Proposed Consequential Amendments CSA Notice
45-106 Amendment Instrument to NI 45-106 Amendments to Instrument
45-106 Amendment Instrument to 45-106CP Amendments to Instrument
45-106 Companion Policy (Consolidated up to 1 January 2011) Companion Policy
45-106 Ministerial Consent Ministerial Consent
45-106 CSA Notice of Amendments - NI 45-106 Prospectus and Registration Exemptions and 45-106 CP CSA Notice
45-106 CSA Notice and Request for Comments - Proposed Repeal and Replacement of NI 43-101 Standards of Disclosure for Mineral Projects, Form 43-101F1 Technical Report, and 43-101CP CSA Notice
45-106 AMF and NBSC Notice and Request for Comments - Draft Amendment Instruments Concordant to Draft NI 52-107 - Acceptable Accounting Principles and Auditing Standards and Conforming Amendments to Certain Companion Policies CSA Notice
45-106 Autorité des marchés financiers and New Brunswick Securities Commission Staff Notice on Proposed Changes to NI 45-106 Prospectus and Registration Exemptions and 45-106CP CSA Notice
45-106 Ministerial Consent Ministerial Consent
45-106 National Instrument National Instrument
45-106 Companion Policy Companion Policy
45-106 CSA Notice of Repeal and Replacement of NI 45-106 Prospectus And Registration Exemptions CSA Notice
45-106 CSA Notice and Request for Comment CSA Notice
45-106 Ministerial Consent Ministerial Consent
45-106 Amendment Instrument to Form 45-106F2 arising from NP 48 Amendments to Instrument
45-106 Amendment Instrument to Form 45-106F3 arising from NP 48 Amendments to Instrument
45-106 CSA Notice of Amendments CSA Notice
45-106 CSA Request for Comment regarding the rescission of NP 48 and consequential amendments to NI 51-102, NI 44-101, NI 45-101, NI 45-106, NP 51-201 and LR 41-501 arising from this rescission CSA Notice
45-106 CSA Request for Comment CSA Notice
45-106 New Brunswick Implementing Instrument 45-802 Implementing Instrument
45-106 National Instrument National Instrument
45-106 Companion Policy Companion Policy
45-106 Ministerial Consent Ministerial Consent