On October 25, 2022, the Ontario Securities Commission (OSC) announced a Self-Certified Investor Prospectus Exemption. The exemption broadens the accredited investor exemption to include individuals with relevant proficiency and a high degree of understanding of investing and capital markets that falls below the in-place requirements to be considered an accredited investor.

Ontario Instrument 45-507 is an interim class order for a Self-Certified Investor Prospectus Exemption for distributions of securities in Ontario of non-investment fund issuers to self-certified investors (subject to various conditions). The investment issuer must be headquartered in Ontario, and the self-certified investor may not purchase more than CA$30,000 in securities in a calendar year.

CFA charterholders are listed as individuals who can certify as self-certified investors to utilize the prospectus exemption and participate in investment opportunities previously reserved for accredited investors.