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Securities

Securities Division

4th Floor, 2365 Albert Street

Regina, Saskatchewan S4P 4K1

Tel: (306)787-5645

Fax: (306)787-5899

Email: fcaa@gov.sk.ca

Securities

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Current news

Securities – The Securities Commission (Adoption of National Instruments) (MI 13-102) Amendment Regulations, 2025

November 28, 2025 – Today the Financial and Consumer Affairs Authority of Saskatchewan is publishing the Securities Commission (Adoption of National Instruments) (MI 13-102) Amendment Regulations, 2025. The Amendment Regulations will lead to annual increases in Canadian Securities Administrators system fees over a 5-year period commencing on November 28, 2025.

The Amendment Regulations will come into force on November 28, 2025.

For more information, contact:

Sonne Udemgba
Financial and Consumer Affairs Authority of Saskatchewan
Director, Legal, Securities Division
4th Floor, 2365 Albert Street
Regina, SK  S4P 4K1
Tel: 306-787-5879
Fax: 306-787-5899
Email: sonne.udemgba@gov.sk.ca

 

 

Securities – The Securities (Miscellaneous) Amendment Regulations, 2025

November 27, 2025 – Today the Financial and Consumer Affairs Authority of Saskatchewan is publishing the Securities (Miscellaneous) Amendment Regulations, 2025.

This amendment includes a fee for a final base shelf prospectus filed pursuant to National Instrument 44-102 Shelf Distributions by a well-known seasoned issuer, as defined in that Instrument, of $1,875.00. The complete changes can be found in the filed regulations linked below.

The Amendment Regulations will come into force on November 28, 2025.

For more information, contact:

Heather Kuchuran, Director
Corporate Finance, Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
4th Floor, 2365 Albert Street
Regina, SK S4P 4K1
Phone: 306-787-1009
E-mail: heather.kuchuran@gov.sk.ca

 

 

Securities – The Securities Commission (Adoption of National Instruments) (NI 44-102) Amendment Regulations, 2025

November 27, 2025 – Today the Financial and Consumer Affairs Authority of Saskatchewan is publishing the Securities Commission (Adoption of National Instruments) (NI 44-102) Amendment Regulations, 2025.

The Amendment Regulations introduce an expedited shelf prospectus regime for well-known seasoned issuers (WKSIs) in Canada. Specifically, the Amendment Regulations permit issuers that satisfy the qualification criteria and certain conditions to:

  • file a final base shelf prospectus and be deemed to receive a receipt for that prospectus without first filing a preliminary base shelf prospectus or undergoing any regulatory review,
  • omit certain disclosure from the base shelf prospectus (for example, the aggregate dollar amount of securities that may be raised under the prospectus), and
  • benefit from receipt effectiveness for a period of 37 months from the date of its deemed issuance, subject to the requirement for the issuer to reassess its qualification to use the WKSI regime annually.

The Amendment Regulations are intended to foster capital formation by WKSIs in the Canadian public markets. Eligible reporting issuers will have more flexibility in structuring a base shelf prospectus offering, have improved certainty regarding transaction timing and be permitted to forgo certain requirements that do not, in this context, provide meaningful disclosure to investors. The Amendment Regulations will also more closely align the timing of Canadian prospectus filings with those applicable in the United States (U.S.) and better facilitate cross-border offerings.

The Amendment Regulations will come into force on November 28, 2025.

For more information, contact:

Mobolanle Depo-Fajumo
Financial and Consumer Affairs Authority
Senior Legal Counsel, Securities Division
400-2365 Albert Street
Regina, SK, S4P 4K1
Bus: 306-798-3381
Fax: 306-787-5899
Email: mobolanle.depofajumo2@gov.sk.ca

 

 

Securities - CSA Multilateral Staff Notice 31-367 Notice and Consultation Regarding CSA Coordinated Blanket Order 31-930 Exemption to Allow Exempt Market Dealer Participation in Selling Groups in Offerings of Securities Under a Prospectus

November 27, 2025 - The Financial and Consumer Affairs Authority of Saskatchewan is publishing CSA Multilateral Staff Notice 31-367 Notice and Consultation Regarding CSA Coordinated Blanket Order 31-930 Exemption to Allow Exempt Market Dealer Participation in Selling Groups in Offerings of Securities Under a Prospectus.

The securities regulatory authorities in Alberta, British Columbia, New Brunswick, Nova Scotia, Ontario, Québec, and Saskatchewan (the Participating Jurisdictions) are publishing this staff notice and consultation questions to inform stakeholders that the temporary Canadian Securities Administrators Coordinated Blanket Order 31-930 Exemption to Allow Exempt Market Dealer Participation in Selling Groups in Offerings of Securities Under a Prospectus (the Blanket Order) expires on December 20, 2025, and will not be extended. The Participating Jurisdictions are also seeking feedback on the exemption that was provided in the Blanket Order to assist in future policy-making, including to consider whether a revised exemption should be published in the future.

Further details are available in the CSA Multilateral Staff Notice 31-367.

Consultation Period Expires: January 26, 2026.

For more information, contact:

Mobolanle Depo-Fajumo
Financial and Consumer Affairs Authority
Senior Legal Counsel, Securities Division
400-2365 Albert Street
Regina, SK, S4P 4K1
Bus: 306-798-3381
Fax: 306-787-5899
Email: mobolanle.depofajumo2@gov.sk.ca

 

 

Securities – CSA Notice and Request for Comment Proposed Amendments to National Instrument 81-102 Investment Funds and Proposed Changes to Companion Policy 81-102 Investment Funds and Consultation Paper on Liquidity Risk Management Tools, Liquidity Classification, and Regulatory Disclosure and Data

November 27, 2025 – Today the Canadian Securities Administrators (CSA) are publishing CSA Notice and Request for Comment Proposed Amendments to National Instrument 81-102 Investment Funds and Proposed Changes to Companion Policy 81-102 Investment Funds and Consultation Paper on Liquidity Risk Management Tools, Liquidity Classification, and Regulatory Disclosure and Data.

The proposed amendments to National Instrument 81-102 Investment Funds and proposed changes to Companion Policy 81-102 Investment Funds (together, the Proposed Amendments and Changes) are being published for a 120-day comment period. The Proposed Amendments and Changes pertain to the liquidity risk management (LRM) of all investment funds, including those that are reporting issuers and those that are not. 

The CSA are also publishing a consultation paper that seeks feedback on potential additional changes to the regulatory framework to address other aspects of LRM. Further details on the Proposed Amendments and Changes and the consultation paper are included in the CSA Notice and Request for Comment and its annexes.

Comment Period Ends: March 27, 2026.

For more information, contact:

Heather Kuchuran, Director
Corporate Finance, Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
4th Floor, 2365 Albert Street
Regina, SK S4P 4K1
Phone: 306-787-1009
E-mail: heather.kuchuran@gov.sk.ca

 

 

Securities - CSA Staff Notice 11-312 National Numbering System (Revised)

November 13, 2025 - The Canadian Securities Administrators today published CSA Staff Notice 11-312 National Numbering System (Revised). This Notice is a revised version of CSA Staff Notice 11-312, as published on February 6, 2009 and revised on February 19, 2010, January 29, 2015 and December 12, 2024.  This revised version adds new subcategory 6 to subject matter category 2 (26-xxx – Other Requirements) and revises the title of third digit 4 (xx-4xx – CSA Consultation Paper).

For more information contact:

Sonne Udemgba
Financial and Consumer Affairs Authority of Saskatchewan
Director, Legal, Securities Division
4th Floor, 2365 Albert Street
Regina, SK  S4P 4K1
Tel: 306-787-5879
Fax: 306-787-5899
Email: sonne.udemgba@gov.sk.ca

 

 

Securities – CSA Notice and Request for Comment, Proposed Amendments to National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure

November 13, 2025 – Today the Financial and Consumer Affairs Authority of Saskatchewan is publishing CSA Notice and Request for Comment, Proposed Amendments to National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure.

Further to a new IFRS® Accounting Standard, IFRS 18 Presentation and Disclosure in Financial Statements, that requires disclosure of management-defined performance measures in a note to the financial statements, the Proposed Amendments primarily seek to ensure that such measures, that have historically been subject to the requirements of National Instrument 52-112 remain subject to its requirements. Further details are included in the CSA Notice.

Comment Period Ends: February 11, 2026.

For more information, contact:

Heather Kuchuran, Director
Corporate Finance, Securities Division
Financial and Consumer Affairs Authority of Saskatchewan
4th Floor, 2365 Albert Street
Regina, SK S4P 4K1
Phone: 306-787-1009
E-mail: heather.kuchuran@gov.sk.ca

 

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Securities Division

4th Floor, 2365 Albert Street

Regina, Saskatchewan S4P 4K1

Tel: (306)787-5645

Fax: (306)787-5899

Email: fcaa@gov.sk.ca

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