Regulated reporting entity

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A **Regulated Reporting Entity** is the cross-border bridge term Woodfine Management Corp. applies to each of its four [[direct-hold-solutions-structural-comparison|Direct-Hold Solutions]]. The designation describes an investment vehicle that files [[about-disclosure-obligations|continuous public disclosure]] with its sovereign securities regulator, meets mandatory ongoing reporting requirements, and makes its disclosure record publicly available — irrespective of whether its equity is exchange-listed or exchange-traded.
A **Regulated Reporting Entity** is the cross-border bridge term Woodfine Management Corp. applies to each of its four [[direct-hold-solutions-structural-comparison|Direct-Hold Solutions]].

**Correction (2026-08-02, verified against [[corporate-glossary]]):** this casts
MCorp as sponsor/owner of the four vehicles. Per the corrected governance model,
MCorp is "not the general partner, administrator, or governing body of any
Direct-Hold vehicle" — the promoter of all four is Woodfine Capital Projects Inc.
(WCP), per [[four-jurisdiction-framework]]. **Flagged, not resolved.** The designation describes an investment vehicle that files [[about-disclosure-obligations|continuous public disclosure]] with its sovereign securities regulator, meets mandatory ongoing reporting requirements, and makes its disclosure record publicly available — irrespective of whether its equity is exchange-listed or exchange-traded.

## The Jurisdictional Fracture Problem

@@ -58,6 +64,12 @@ Each Direct-Hold Solution, as a Regulated Reporting Entity in its sovereign juri

**Canada — SEDAR+.** The Professional Centres Canada LP files with the British Columbia Securities Commission and makes its disclosure publicly available on [[about-filing-systems|SEDAR+]]. Required filings include annual information forms, audited financial statements, management's discussion and analysis, and [[about-material-change-reporting|material change reports]].

**⚠️ Correction (2026-08-02) — NOT resolved:** this describes current, unproblematic
filing behavior, but [[professional-centres-canada-lp-structure]] discloses an
active BCSC cease-trade order against this same vehicle arising specifically from
delayed continuous-disclosure filings. See that article's Correction callout — same
unresolved contradiction, escalated to Command.

**United States — EDGAR.** The planned Professional Centres United States LP is intended to file with the Securities and Exchange Commission on the EDGAR platform under the applicable reporting-issuer regime.

**Spain — Sede Electrónica / CNMV.** The planned Professional Centres Spain SOCIMI is intended to be inscribed in the Registro Nacional de Valores Negociables and file through the CNMV's Sede Electrónica. The SOCIMI structure requires listing on a regulated market for tax-exempt status, making the Cotizada designation legally mandatory for Spain in a way that it is not for the Canadian and United States vehicles.