The Autorité des marchés financiers (AMF) launching a consultation on a proposed draft rule on real estate prospectus and registration exemptions, the Quebec regulator announced on Friday.
The proposed rule aims to “simplify the framework governing certain real estate distributions,” the AMF said in a statement, by proposing a new prospectus exemption and disclosure requirements for real estate investment contracts that meet certain criteria.
The Quebec regulator also proposes a registration exemption and provides guidance on the factors that may trigger a registration requirement when selling real estate investment contracts.
The proposed new rules are “in response to the growing number of real estate projects in Québec, which has highlighted the need for a legal framework adapted to related distributions,” the AMF added.
Comments on the proposals are due by Dec. 24.