Amendments to the Multijurisdictional Disclosure System for Canadian Issuers

The Securities and Exchange Commission (the ``Commission'') has adopted amendments to Form F-9 under the multijurisdictional disclosure system (``MJDS'') for Canadian issuers which will recognize investment grade ratings by securities rating organizations recognized by Canadian securities regulators for purposes of filings on Forms F-9 and 40-F. These amendments have been adopted in light of the Commission's experience with the MJDS and should further facilitate transnational capital formation. They are being made effective in light of the adoption by Canadian securities regulators of parallel amendments to the MJDS in Canada for U.S. issuers.