Your broker must provide you with the prospectus. It is brief because it refers to financial statements or documents previously made public. A simplified prospectus may be used by mutual funds. A long-form prospectus is the form that's used most often. In this province, the Corporate Finance Branch of the Ontario Securities Commission reviews and issues receipts for prospectuses.
Staff review the prospectuses for compliance with the legislation and other official requirements.
The Commission does not assess the merits of the investment, nor does it guarantee the completeness or accuracy of the information contained in the prospectus. Read the Prospectus Be sure to read the prospectus, particularly the summary and the explanation of risk factors, before you complete a purchase of securities. Remember that under the Ontario Securities Act, you have the right to withdraw from your purchase by writing to the dealer up to two days after you receive the prospectus. If you bought the securities during a distribution under a prospectus and if the prospectus contains false or misleading information, you may cancel your purchase within a specific time frame or you may sue in civil court for damages.