Three members of our Toronto office who work with investment funds recently authored the Canadian chapter of Practical Law’s Global Guide 2019: Retail Investment Funds. This publication provides a concise overview of the legal and regulatory issues in this area, with particular attention to the following:

  • Structure of the Canadian retail funds market;
  • Statutes, regulations and regulatory bodies;
  • Prospectus and AIF requirements for retail funds;
  • Marketing of retail funds;
  • Requirements for fund managers and operators;
  • Foreign managers;
  • Rules governing custodians;
  • Structuring open-ended and close-ended retail funds;
  • Investment and borrowing restrictions;
  • Restrictions on issuance, redemption, transfer or assignment of interests;
  • Periodic reporting requirements;
  • Tax treatment of retail funds;
  • Quasi-retail funds in Canada (e.g. labour-sponsored funds); and
  • Proposed reforms.

We are pleased to be able to make this 12-page publication available for downloading.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.