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  • BR-1B.4 BR-1B.4 Report on Private Placements

    • BR-1B.4.1

      When acting as an issuer, promoter or manager of a private placement of securities (excluding CIUs), Investment firm licensees must provide on a semi-annual basis to investors and the CBB a progress report on the private placement. The semi-annual reports are to be provided as of 30th June and 31st December and must be submitted to the investors and the CBB within three months of the reporting period. This requirement is applicable to Category 1 investment firm licensees and Category 2 investment firm licensees only.

      Amended: January 2022
      Amended: January 2020
      Added: October 2018

    • BR-1B.4.2

      The reports referred to in Paragraph BR-1B.4.1 are to be issued for all PPMs issued or distributed for the purpose of solicitation of funds from investors.

      Amended: January 2020
      Added: October 2018

    • BR-1B.4.3

      The requirements for the report on private placements are in addition to any requirements outlined in Module OFS (Offering of Securities) under Volume 6 (Capital Markets).

      Added: October 2018

    • BR-1B.4.4

      Investment firm licensees may opt to issue the required report on a more frequent basis.

      Added: October 2018

    • BR-1B.4.5

      The report required under Paragraph BR-1B.4.1 must be issued for private equity purchases of existing companies, as well as for real estate and other projects under development (in coordination with the real estate developer), and must follow the requirements of Appendix BR-2 under Part B of Volume 4.

      Added: October 2018

    • BR-1B.4.6

      Investment firm licensees which do not act as issuers, promoters or managers for PPMs, and therefore are not subject to the reporting requirement under Rule BR-1B.4.1, are obligated to confirm the same to the CBB on a semi-annual basis, within the deadline stipulated in Rule BR-1B.4.1.

      Added: January 2020