Articles

Practical commentary on securities law, exempt market compliance, fund formation, investor reporting, and private capital markets.

Jul 15, 2026

The Accredited Investor Exemption under NI 45-106

This article explains the accredited investor exemption under NI 45-106, one of Canada’s principal prospectus exemptions for private placements. It discusses who qualifies as an accredited investor, how issuers rely on the exemption, verification requirements, dealer registration considerations, common compliance issues, and practical guidance for conducting compliant exempt market financings.

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