2111. Public distribution of a Dealer Member’s securities

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    1. A Dealer Member or its holding company making a public distribution of its securities must include in the prospectus, or equivalent document, summaries of at least two separate valuations of its securities, if:
      1. the Dealer Member is underwriting more than 25% of the distribution itself, or
      2. the distribution is offered on an agency or best efforts basis.
    2. Qualified independent underwriters or chartered accountants must prepare the valuations and summaries. A qualified independent underwriter participating in the distribution may prepare a valuation.
    3. Subsection 2111(1) does not apply if securities with identical attributes have been trading on an acceptable exchange in Canada for at least six months before the new distribution begins.

    There is no history log for this rule.