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<h1>Regulator tightens Infrastructure Investment Trust rules: redefines 'public', aligns financial and valuation timelines, lowers private placement thresholds</h1> The regulator amends the Infrastructure Investment Trusts regulations to revise the definition of 'public', align timelines for submission of quarterly and annual financials and valuation reports to times specified by the regulator, and require valuation reports to be filed to trustees and stock exchanges concurrently with periodic financial results. Minimum private placement investment thresholds are lowered, certain provisos removed, and holdco negative distributable cash flows may be offset against SPV cash flows subject to specified disclosures. If consolidated borrowings exceed 49%, quarterly asset valuations and additional quarterly reporting obligations apply for specified quarters; reporting requirements for publicly offered trusts are clarified and timing harmonized with quarterly filings.